Zurich Insurance Group Ltd FI Buys New Stake in Tetra Tech, Inc. (NASDAQ:TTEK)

Zurich Insurance Group Ltd FI acquired a new position in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 28,900 shares of the industrial products company's stock, valued at approximately $1,151,000.

Several other institutional investors have also recently added to or reduced their stakes in TTEK. Vanguard Group Inc. lifted its stake in Tetra Tech by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 25,912,103 shares of the industrial products company's stock worth $1,032,338,000 after purchasing an additional 127,757 shares in the last quarter. Pictet Asset Management Holding SA lifted its stake in Tetra Tech by 2.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 14,018,887 shares of the industrial products company's stock worth $558,512,000 after acquiring an additional 381,437 shares in the last quarter. Amundi boosted its holdings in Tetra Tech by 2.5% during the 4th quarter. Amundi now owns 4,873,176 shares of the industrial products company's stock valued at $194,314,000 after acquiring an additional 117,304 shares during the period. Geode Capital Management LLC grew its position in Tetra Tech by 0.3% in the 4th quarter. Geode Capital Management LLC now owns 4,729,696 shares of the industrial products company's stock valued at $188,487,000 after acquiring an additional 13,616 shares in the last quarter. Finally, Norges Bank acquired a new position in Tetra Tech in the 4th quarter valued at about $121,390,000. Institutional investors and hedge funds own 93.89% of the company's stock.

Analyst Ratings Changes

Several analysts have recently issued reports on TTEK shares. KeyCorp raised their price objective on shares of Tetra Tech from $34.00 to $41.00 and gave the company an "overweight" rating in a research note on Friday, May 9th. Robert W. Baird increased their target price on shares of Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a report on Thursday, May 8th. Maxim Group cut shares of Tetra Tech from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Finally, Royal Bank of Canada set a $49.00 price target on shares of Tetra Tech in a research note on Friday, January 31st. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $41.00.

Tetra Tech Stock Down 0.1%

Shares of Tetra Tech stock traded down $0.03 on Monday, reaching $35.42. 2,024,442 shares of the company were exchanged, compared to its average volume of 2,083,532. The stock's 50 day moving average price is $31.27 and its 200-day moving average price is $35.36. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29. Tetra Tech, Inc. has a 1-year low of $27.27 and a 1-year high of $51.20. The company has a market cap of $9.33 billion, a P/E ratio of 37.21 and a beta of 0.92.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.02. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the previous year, the firm earned $0.28 earnings per share. The firm's quarterly revenue was up 25.9% on a year-over-year basis. As a group, equities analysts forecast that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Friday, May 23rd will be issued a $0.065 dividend. This represents a $0.26 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Friday, May 23rd. This is a positive change from Tetra Tech's previous quarterly dividend of $0.06. Tetra Tech's dividend payout ratio is 37.68%.

About Tetra Tech

Tetra Tech, Inc provides consulting and engineering services in the United States and internationally. The company operates through two segments, Government Services Group (GSG) and Commercial/International Services Group (CIG). The GSG segment offers early data collection and monitoring, data analysis and information management, science and engineering applied research, engineering design, project management, and operations and maintenance services; and climate change and energy management consulting, as well as greenhouse gas inventory assessment, certification, reduction, and management services.