Graham Capital Management L.P. Raises Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Graham Capital Management L.P. grew its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 126.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 20,167 shares of the industrial products company's stock after acquiring an additional 11,244 shares during the quarter. Graham Capital Management L.P.'s holdings in Tetra Tech were worth $803,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of 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 valued at $1,032,338,000 after acquiring an additional 127,757 shares in the last quarter. Pictet Asset Management Holding SA increased its holdings in shares of Tetra Tech by 2.8% during the fourth quarter. Pictet Asset Management Holding SA now owns 14,018,887 shares of the industrial products company's stock valued at $558,512,000 after acquiring an additional 381,437 shares in the last quarter. Amundi increased its holdings in shares of Tetra Tech by 2.5% during the fourth 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 in the last quarter. Geode Capital Management LLC increased its holdings in shares of Tetra Tech by 0.3% during the fourth 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 bought a new stake in shares of Tetra Tech during the fourth quarter valued at approximately $121,390,000. Institutional investors own 93.89% of the company's stock.

Tetra Tech Stock Performance

TTEK stock traded up $0.19 during midday trading on Friday, hitting $35.37. The company's stock had a trading volume of 1,709,154 shares, compared to its average volume of 2,062,394. The stock's 50-day moving average price is $30.64 and its 200 day moving average price is $36.00. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. Tetra Tech, Inc. has a 1 year low of $27.27 and a 1 year high of $51.20. The stock has a market cap of $9.32 billion, a price-to-earnings ratio of 37.15 and a beta of 0.92.

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

Tetra Tech Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd will be given a $0.065 dividend. The ex-dividend date is Friday, May 23rd. This represents a $0.26 annualized dividend and a yield of 0.74%. This is a boost from Tetra Tech's previous quarterly dividend of $0.06. Tetra Tech's payout ratio is currently 37.68%.

Wall Street Analysts Forecast Growth

TTEK has been the topic of several analyst reports. Royal Bank of Canada set a $49.00 target price on Tetra Tech in a research report on Friday, January 31st. Maxim Group cut Tetra Tech from a "strong-buy" rating to a "hold" rating in a research report on Friday, April 4th. Robert W. Baird lifted their target price on Tetra Tech from $31.00 to $33.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. Finally, KeyCorp lifted their target price on Tetra Tech from $34.00 to $41.00 and gave the company an "overweight" rating in a research report on Friday, May 9th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $41.00.

Tetra Tech Profile

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.