MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Boosts Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 5.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,832,109 shares of the industrial products company's stock after buying an additional 100,380 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.68% of Tetra Tech worth $72,991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of Tetra Tech by 0.5% in 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 purchasing an additional 127,757 shares in the last quarter. Pictet Asset Management Holding SA grew its position in shares of Tetra Tech by 2.8% in 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 purchasing an additional 381,437 shares in the last quarter. Amundi grew its position in shares of Tetra Tech by 2.5% in the fourth quarter. Amundi now owns 4,873,176 shares of the industrial products company's stock valued at $194,314,000 after purchasing an additional 117,304 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Tetra Tech by 0.3% in 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 purchasing an additional 13,616 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of Tetra Tech in the fourth quarter valued at $121,390,000. 93.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

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

Tetra Tech Price Performance

NASDAQ:TTEK traded up $0.19 during trading hours on Friday, hitting $35.37. 1,709,154 shares of the company's stock traded hands, compared to its average volume of 2,066,319. The firm has a market cap of $9.32 billion, a P/E ratio of 37.15 and a beta of 0.92. Tetra Tech, Inc. has a 52 week low of $27.27 and a 52 week high of $51.20. The business's fifty day simple moving average is $30.64 and its two-hundred day simple moving average is $35.90. 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 (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 (EPS) for the quarter, beating 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 company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the company earned $0.28 earnings per share. The firm's quarterly revenue was up 25.9% on a year-over-year basis. On average, research analysts anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd will be paid 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 positive change from Tetra Tech's previous quarterly dividend of $0.06. Tetra Tech's dividend payout ratio is currently 37.68%.

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.