Tetra Tech (NASDAQ:TTEK) Reaches New 1-Year High at $190.52

Tetra Tech, Inc. (NASDAQ:TTEK - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $190.52 and last traded at $190.52, with a volume of 32250 shares changing hands. The stock had previously closed at $188.97.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. KeyCorp assumed coverage on Tetra Tech in a research note on Wednesday, January 10th. They issued an "overweight" rating and a $191.00 price objective for the company. Royal Bank of Canada upped their target price on Tetra Tech from $192.00 to $203.00 and gave the company an "outperform" rating in a report on Friday, February 2nd. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $197.25.

Tetra Tech Price Performance

The stock has a market capitalization of $10.21 billion, a P/E ratio of 44.34 and a beta of 0.96. The business has a fifty day simple moving average of $177.05 and a 200-day simple moving average of $166.09. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.25 and a current ratio of 1.25.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last posted its quarterly earnings results on Wednesday, January 31st. The industrial products company reported $1.40 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.35 by $0.05. The firm had revenue of $1.23 billion for the quarter, compared to analysts' expectations of $974.00 million. Tetra Tech had a return on equity of 21.05% and a net margin of 4.77%. During the same period in the prior year, the business earned $1.34 EPS. Sell-side analysts expect that Tetra Tech, Inc. will post 6.07 earnings per share for the current fiscal year.

Tetra Tech Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, February 27th. Investors of record on Wednesday, February 14th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 0.55%. The ex-dividend date of this dividend was Tuesday, February 13th. Tetra Tech's dividend payout ratio is currently 24.07%.

Insider Buying and Selling

In related news, Director J Kenneth Thompson sold 8,400 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $165.00, for a total value of $1,386,000.00. Following the transaction, the director now directly owns 14,485 shares in the company, valued at approximately $2,390,025. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director J Kenneth Thompson sold 8,400 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $165.00, for a total value of $1,386,000.00. Following the transaction, the director now directly owns 14,485 shares in the company, valued at approximately $2,390,025. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Steven M. Burdick sold 7,128 shares of the stock in a transaction on Monday, February 5th. The shares were sold at an average price of $165.01, for a total value of $1,176,191.28. Following the completion of the sale, the chief financial officer now directly owns 37,405 shares of the company's stock, valued at $6,172,199.05. The disclosure for this sale can be found here. Insiders have sold a total of 32,123 shares of company stock worth $5,487,673 in the last ninety days. Corporate insiders own 0.61% of the company's stock.

Institutional Investors Weigh In On Tetra Tech

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank purchased a new stake in shares of Tetra Tech during the 4th quarter valued at $132,468,000. CI Private Wealth LLC purchased a new stake in shares of Tetra Tech during the 4th quarter valued at $72,092,000. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in shares of Tetra Tech during the 4th quarter valued at $82,209,000. Morgan Stanley increased its position in shares of Tetra Tech by 67.7% during the 4th quarter. Morgan Stanley now owns 602,765 shares of the industrial products company's stock valued at $87,516,000 after purchasing an additional 243,312 shares during the last quarter. Finally, Rockefeller Capital Management L.P. increased its position in shares of Tetra Tech by 489.8% during the 1st quarter. Rockefeller Capital Management L.P. now owns 268,091 shares of the industrial products company's stock valued at $39,384,000 after purchasing an additional 222,634 shares during the last quarter. 93.89% of the stock is owned by hedge funds and other institutional investors.

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.