Occudo Quantitative Strategies LP acquired a new position in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund acquired 31,362 shares of the industrial products company's stock, valued at approximately $1,249,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Principal Financial Group Inc. lifted its holdings in shares of Tetra Tech by 279.4% in the third quarter. Principal Financial Group Inc. now owns 754,702 shares of the industrial products company's stock valued at $35,592,000 after buying an additional 555,789 shares during the period. Define Financial LLC purchased a new position in shares of Tetra Tech during the fourth quarter valued at $412,000. Radnor Capital Management LLC grew its holdings in shares of Tetra Tech by 11.8% during the fourth quarter. Radnor Capital Management LLC now owns 8,025 shares of the industrial products company's stock valued at $320,000 after buying an additional 850 shares in the last quarter. Argent Capital Management LLC grew its stake in Tetra Tech by 9.5% in the fourth quarter. Argent Capital Management LLC now owns 62,758 shares of the industrial products company's stock valued at $2,500,000 after purchasing an additional 5,452 shares in the last quarter. Finally, Relyea Zuckerberg Hanson LLC grew its stake in Tetra Tech by 367.4% in the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 76,460 shares of the industrial products company's stock valued at $3,046,000 after purchasing an additional 60,103 shares in the last quarter. 93.89% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on TTEK shares. Royal Bank of Canada set a $49.00 price target on Tetra Tech in a research note on Friday, January 31st. Maxim Group cut Tetra Tech from a "strong-buy" rating to a "hold" rating in a research note on Friday, April 4th. KeyCorp lifted their target price on Tetra Tech from $34.00 to $41.00 and gave the stock an "overweight" rating in a report on Friday, May 9th. Finally, 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 note on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $41.00.
View Our Latest Research Report on TTEK
Tetra Tech Stock Performance
Shares of NASDAQ:TTEK traded down $0.22 during midday trading on Monday, hitting $35.15. The company had a trading volume of 310,691 shares, compared to its average volume of 2,059,457. The company has a market cap of $9.26 billion, a price-to-earnings ratio of 36.96 and a beta of 0.92. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29. The company has a fifty day moving average of $30.64 and a two-hundred day moving average of $35.81. Tetra Tech, Inc. has a 12-month low of $27.27 and a 12-month high of $51.20.
Tetra Tech (NASDAQ:TTEK - Get Free Report) last issued its earnings results on Wednesday, May 7th. The industrial products company reported $0.33 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.02. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. The business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the prior year, the firm earned $0.28 EPS. The company's revenue for the quarter was up 25.9% compared to the same quarter last year. On average, equities research analysts expect that Tetra Tech, Inc. will post 1.37 EPS 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. This represents a $0.26 annualized dividend and a yield of 0.74%. This is an increase from Tetra Tech's previous quarterly dividend of $0.06. The ex-dividend date is Friday, May 23rd. Tetra Tech's dividend payout ratio (DPR) is 37.68%.
Tetra Tech Company Profile
(
Free Report)
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.
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