Northern Trust Corp Acquires 482,101 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Northern Trust Corp increased its position in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 21.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,745,434 shares of the industrial products company's stock after buying an additional 482,101 shares during the quarter. Northern Trust Corp owned 1.02% of Tetra Tech worth $109,378,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in Tetra Tech during the 4th quarter worth $121,390,000. Capital International Investors bought a new stake in Tetra Tech in the fourth quarter valued at approximately $43,895,000. King Luther Capital Management Corp raised its holdings in Tetra Tech by 324.0% during the 4th quarter. King Luther Capital Management Corp now owns 1,278,295 shares of the industrial products company's stock worth $50,927,000 after purchasing an additional 976,810 shares during the last quarter. Teacher Retirement System of Texas lifted its position in shares of Tetra Tech by 130.8% in the 4th quarter. Teacher Retirement System of Texas now owns 1,383,025 shares of the industrial products company's stock worth $55,100,000 after purchasing an additional 783,736 shares during the period. Finally, Bessemer Group Inc. increased its position in shares of Tetra Tech by 924.3% during the fourth quarter. Bessemer Group Inc. now owns 815,939 shares of the industrial products company's stock worth $32,508,000 after buying an additional 736,279 shares during the period. Institutional investors own 93.89% of the company's stock.

Tetra Tech Stock Performance

TTEK traded up $0.40 during trading on Friday, hitting $35.28. 2,122,104 shares of the company traded hands, compared to its average volume of 2,021,898. The firm has a market cap of $9.46 billion, a P/E ratio of 37.06 and a beta of 0.92. 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 one year low of $27.27 and a one year high of $51.20. The stock's fifty day moving average is $29.94 and its 200 day moving average is $36.56.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last posted its quarterly earnings results 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. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.05 billion. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. The firm's quarterly revenue was up 25.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.28 EPS. As a group, equities analysts predict that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal 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 given a dividend of $0.065 per share. 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. The ex-dividend date is Friday, May 23rd. Tetra Tech's payout ratio is presently 24.21%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on TTEK shares. Royal Bank of Canada set a $49.00 price target on Tetra Tech in a report on Friday, January 31st. Maxim Group downgraded Tetra Tech from a "strong-buy" rating to a "hold" rating in a report on Friday, April 4th. Robert W. Baird increased their price target on Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a report on Thursday. Finally, KeyCorp boosted their target price on shares of Tetra Tech from $34.00 to $41.00 and gave the company an "overweight" rating in a research report on Friday. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Tetra Tech has a consensus rating of "Hold" and an average price target of $44.15.

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.