Schonfeld Strategic Advisors LLC Makes New $940,000 Investment in Tetra Tech, Inc. (NASDAQ:TTEK)

Schonfeld Strategic Advisors LLC acquired a new position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 23,602 shares of the industrial products company’s stock, valued at approximately $940,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in TTEK. Tidal Investments LLC increased its position in shares of Tetra Tech by 226.7% during the third quarter. Tidal Investments LLC now owns 11,722 shares of the industrial products company’s stock valued at $553,000 after acquiring an additional 8,134 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of Tetra Tech by 279.4% during the 3rd quarter. Principal Financial Group Inc. now owns 754,702 shares of the industrial products company’s stock valued at $35,592,000 after acquiring an additional 555,789 shares during the period. Nordea Investment Management AB increased its stake in shares of Tetra Tech by 0.9% in the fourth quarter. Nordea Investment Management AB now owns 45,422 shares of the industrial products company’s stock worth $1,809,000 after purchasing an additional 411 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in Tetra Tech by 1.8% in the 4th quarter. Harbor Capital Advisors Inc. now owns 37,078 shares of the industrial products company’s stock worth $1,477,000 after buying an additional 648 shares in the last quarter. Finally, Define Financial LLC bought a new stake in Tetra Tech during the 4th quarter valued at approximately $412,000. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Tetra Tech Stock Up 13.1 %

Shares of NASDAQ TTEK opened at $34.92 on Friday. Tetra Tech, Inc. has a 12-month low of $27.27 and a 12-month high of $51.20. The stock’s fifty day simple moving average is $29.94 and its two-hundred day simple moving average is $36.56. The stock has a market capitalization of $9.36 billion, a PE ratio of 36.68 and a beta of 0.92. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. The company had revenue of $1.10 billion for 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 revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.28 earnings per share. As a group, 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. Investors of record on Friday, May 23rd will be given a dividend of $0.065 per share. This is a boost from Tetra Tech’s previous quarterly dividend of $0.06. The ex-dividend date is Friday, May 23rd. This represents a $0.26 dividend on an annualized basis and a yield of 0.74%. Tetra Tech’s dividend payout ratio is presently 24.21%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. KeyCorp dropped their price target on Tetra Tech from $45.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Maxim Group lowered Tetra Tech from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Royal Bank of Canada set a $49.00 price objective on shares of Tetra Tech in a research report on Friday, January 31st. Finally, Robert W. Baird raised 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. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Tetra Tech currently has an average rating of “Hold” and an average target price of $42.40.

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.