Jacobs Levy Equity Management Inc. Boosts Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Jacobs Levy Equity Management Inc. increased its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 814.2% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 2,267,296 shares of the industrial products company’s stock after purchasing an additional 2,019,295 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Tetra Tech were worth $90,329,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Tetra Tech by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 25,912,103 shares of the industrial products company’s stock valued at $1,032,338,000 after acquiring an additional 127,757 shares in the last quarter. Pictet Asset Management Holding SA raised its position in Tetra Tech by 2.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 14,018,887 shares of the industrial products company’s stock valued at $558,512,000 after purchasing an additional 381,437 shares in the last quarter. Amundi boosted its stake in shares of Tetra Tech by 2.5% in the 4th quarter. Amundi now owns 4,873,176 shares of the industrial products company’s stock valued at $194,314,000 after buying an additional 117,304 shares during the period. Geode Capital Management LLC grew its position in shares of Tetra Tech by 0.3% during the fourth quarter. Geode Capital Management LLC now owns 4,729,696 shares of the industrial products company’s stock worth $188,487,000 after buying an additional 13,616 shares in the last quarter. Finally, Norges Bank acquired a new stake in Tetra Tech in the fourth quarter valued at approximately $121,390,000. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TTEK. Maxim Group downgraded shares of Tetra Tech from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Royal Bank of Canada set a $49.00 price target on Tetra Tech in a research note on Friday, January 31st. Robert W. Baird upped their price objective on Tetra Tech from $31.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday. Finally, KeyCorp raised their target price on Tetra Tech from $34.00 to $41.00 and gave the stock an “overweight” rating in a research report on Friday. Three investment 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, Tetra Tech has an average rating of “Hold” and an average price target of $44.15.

Tetra Tech Stock Performance

NASDAQ TTEK opened at $35.49 on Friday. The company has a fifty day moving average of $30.07 and a two-hundred day moving average of $36.39. The company has a market capitalization of $9.51 billion, a PE ratio of 37.28 and a beta of 0.92. Tetra Tech, Inc. has a 1 year low of $27.27 and a 1 year high of $51.20. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29.

Tetra Tech (NASDAQ:TTEK) last announced its earnings results on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. The business’s revenue was up 25.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.28 EPS. As a group, analysts expect that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Friday, May 23rd will be given a $0.065 dividend. This is an increase from Tetra Tech’s previous quarterly dividend of $0.06. The ex-dividend date is Friday, May 23rd. This represents a $0.26 annualized dividend and a yield of 0.73%. Tetra Tech’s dividend payout ratio is 24.21%.

Tetra Tech Profile

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.