Tetra Tech, Inc. (NASDAQ:TTEK) Shares Bought by Focus Partners Wealth

Focus Partners Wealth lifted its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 164.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,802 shares of the industrial products company’s stock after acquiring an additional 15,421 shares during the quarter. Focus Partners Wealth’s holdings in Tetra Tech were worth $988,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Ethic Inc. increased its holdings in Tetra Tech by 1,198.5% during the 4th quarter. Ethic Inc. now owns 28,411 shares of the industrial products company’s stock worth $1,132,000 after purchasing an additional 26,223 shares during the period. Fiduciary Trust Co grew its position in shares of Tetra Tech by 7.6% during the fourth quarter. Fiduciary Trust Co now owns 9,888 shares of the industrial products company’s stock worth $394,000 after buying an additional 698 shares in the last quarter. Crestline Management LP purchased a new stake in shares of Tetra Tech during the fourth quarter worth approximately $1,070,000. Cubist Systematic Strategies LLC raised its holdings in Tetra Tech by 10.7% in the fourth quarter. Cubist Systematic Strategies LLC now owns 332,487 shares of the industrial products company’s stock valued at $13,246,000 after acquiring an additional 32,202 shares in the last quarter. Finally, Caption Management LLC purchased a new position in Tetra Tech in the fourth quarter worth approximately $40,000. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Tetra Tech Price Performance

Shares of TTEK opened at $35.37 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29. Tetra Tech, Inc. has a fifty-two week low of $27.27 and a fifty-two week high of $51.20. The firm has a 50-day simple moving average of $30.64 and a 200-day simple moving average of $35.90. The company has a market capitalization of $9.32 billion, a price-to-earnings ratio of 37.15 and a beta of 0.92.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period last year, the firm earned $0.28 EPS. The firm’s revenue for the quarter was up 25.9% on a year-over-year basis. On average, equities research 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. Shareholders of record on Friday, May 23rd will be given a dividend of $0.065 per share. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $0.26 dividend on an annualized basis and a yield of 0.74%. This is an increase from Tetra Tech’s previous quarterly dividend of $0.06. Tetra Tech’s dividend payout ratio is presently 37.68%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on TTEK shares. Royal Bank of Canada set a $49.00 target price on shares of Tetra Tech in a research note on Friday, January 31st. Maxim Group cut shares of Tetra Tech from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. KeyCorp raised their price target on Tetra Tech from $34.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Finally, Robert W. Baird boosted their price objective 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 analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $41.00.

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.