Tetra Tech, Inc. (NASDAQ:TTEK) Raises Dividend to $0.29 Per Share

Tetra Tech, Inc. (NASDAQ:TTEK - Get Free Report) announced a quarterly dividend on Monday, April 29th, Zacks reports. Shareholders of record on Monday, May 20th will be paid a dividend of 0.29 per share by the industrial products company on Friday, May 31st. This represents a $1.16 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend is Friday, May 17th. This is an increase from Tetra Tech's previous quarterly dividend of $0.26.

Tetra Tech has increased its dividend by an average of 15.2% annually over the last three years and has raised its dividend every year for the last 9 years. Tetra Tech has a dividend payout ratio of 15.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Tetra Tech to earn $7.01 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 14.8%.

Tetra Tech Stock Performance

Shares of TTEK stock traded up $3.49 on Friday, reaching $207.75. The stock had a trading volume of 402,949 shares, compared to its average volume of 270,248. Tetra Tech has a 12 month low of $132.29 and a 12 month high of $208.76. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $11.11 billion, a price-to-earnings ratio of 42.05 and a beta of 0.93. The firm's 50-day moving average is $186.04 and its two-hundred day moving average is $171.32.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.29 by $0.13. Tetra Tech had a return on equity of 21.60% and a net margin of 5.36%. The company had revenue of $1.05 billion during the quarter, compared to analysts' expectations of $1.03 billion. During the same period last year, the firm posted $1.17 earnings per share. The business's revenue was down 9.5% on a year-over-year basis. On average, research analysts expect that Tetra Tech will post 6.07 EPS for the current fiscal year.

Insider Buying and Selling at Tetra Tech

In other Tetra Tech news, CFO Steven M. Burdick sold 7,128 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer now directly owns 37,405 shares of the company's stock, valued at approximately $6,172,199.05. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Tetra Tech news, CFO Steven M. Burdick sold 7,515 shares of the business's stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $175.67, for a total transaction of $1,320,160.05. Following the completion of the transaction, the chief financial officer now owns 29,890 shares of the company's stock, valued at $5,250,776.30. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Steven M. Burdick sold 7,128 shares of Tetra Tech stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $165.01, for a total transaction of $1,176,191.28. Following the sale, the chief financial officer now directly owns 37,405 shares in the company, valued at $6,172,199.05. The disclosure for this sale can be found here. Insiders sold 32,123 shares of company stock valued at $5,487,673 in the last three months. Corporate insiders own 0.61% of the company's stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Robert W. Baird increased their price target on shares of Tetra Tech from $180.00 to $200.00 and gave the company a "neutral" rating in a report on Thursday. Royal Bank of Canada lifted their price target on Tetra Tech from $203.00 to $233.00 and gave the stock an "outperform" rating in a report on Friday. Maxim Group upped their price objective on Tetra Tech from $220.00 to $230.00 and gave the company a "buy" rating in a report on Tuesday. Northcoast Research raised Tetra Tech from a "neutral" rating to a "buy" rating and set a $225.00 target price for the company in a report on Thursday. Finally, KeyCorp boosted their target price on shares of Tetra Tech from $209.00 to $219.00 and gave the company an "overweight" rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $221.40.

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.