Tetra Tech, Inc. (NASDAQ:TTEK) Shares Bought by Fiduciary Trust Co

Fiduciary Trust Co grew its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 7.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,888 shares of the industrial products company’s stock after acquiring an additional 698 shares during the period. Fiduciary Trust Co’s holdings in Tetra Tech were worth $394,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in TTEK. R Squared Ltd acquired a new position in Tetra Tech during the 4th quarter worth $39,000. Asset Planning Inc acquired a new position in Tetra Tech during the 4th quarter worth $40,000. Jones Financial Companies Lllp grew its holdings in Tetra Tech by 98.0% during the 4th quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company’s stock worth $40,000 after acquiring an additional 495 shares in the last quarter. Caption Management LLC acquired a new position in Tetra Tech during the 4th quarter worth $40,000. Finally, Blue Trust Inc. grew its holdings in Tetra Tech by 235.8% during the 4th quarter. Blue Trust Inc. now owns 1,444 shares of the industrial products company’s stock worth $58,000 after acquiring an additional 1,014 shares in the last quarter. 93.89% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Tetra Tech Trading Up 1.7%

Shares of NASDAQ:TTEK opened at $35.49 on Monday. The company has a market cap of $9.51 billion, a PE ratio of 37.28 and a beta of 0.92. The company’s 50-day moving average price is $30.07 and its 200 day moving average price is $36.31. Tetra Tech, Inc. has a fifty-two week low of $27.27 and a fifty-two week high of $51.20. 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 (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 the consensus estimate of $0.31 by $0.02. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.05 billion. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. Tetra Tech’s quarterly revenue was up 25.9% compared to the same quarter last year. During the same period last year, the firm posted $0.28 EPS. Sell-side analysts anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Increases Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Friday, May 23rd. This is an increase from Tetra Tech’s previous quarterly dividend of $0.06. This represents a $0.26 annualized dividend and a yield of 0.73%. Tetra Tech’s dividend payout ratio (DPR) is currently 24.21%.

Tetra Tech Company 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.