Trust Point Inc. Decreases Stake in Tetra Tech, Inc. (NASDAQ:TTEK)

Trust Point Inc. lowered its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 3.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 14,453 shares of the industrial products company’s stock after selling 580 shares during the period. Trust Point Inc.’s holdings in Tetra Tech were worth $423,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Exchange Traded Concepts LLC increased its stake in shares of Tetra Tech by 48.5% in the first quarter. Exchange Traded Concepts LLC now owns 73,181 shares of the industrial products company’s stock worth $2,141,000 after acquiring an additional 23,910 shares during the period. Relyea Zuckerberg Hanson LLC increased its stake in shares of Tetra Tech by 1.6% in the first quarter. Relyea Zuckerberg Hanson LLC now owns 77,665 shares of the industrial products company’s stock worth $2,272,000 after acquiring an additional 1,205 shares during the period. Osprey Private Wealth LLC increased its stake in shares of Tetra Tech by 26.6% in the first quarter. Osprey Private Wealth LLC now owns 216,250 shares of the industrial products company’s stock worth $6,325,000 after acquiring an additional 45,400 shares during the period. Fifth Third Bancorp increased its stake in shares of Tetra Tech by 9.7% in the first quarter. Fifth Third Bancorp now owns 5,351 shares of the industrial products company’s stock worth $157,000 after acquiring an additional 475 shares during the period. Finally, Sarasin & Partners LLP acquired a new stake in shares of Tetra Tech in the first quarter worth $135,386,000. Institutional investors and hedge funds own 93.89% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on TTEK. Maxim Group lowered shares of Tetra Tech from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. KeyCorp raised their price target on shares of Tetra Tech from $34.00 to $41.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Finally, Robert W. Baird raised their price target on shares of Tetra Tech from $31.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $41.00.

Tetra Tech Stock Down 0.3%

TTEK stock opened at $35.96 on Tuesday. The firm has a market cap of $9.48 billion, a PE ratio of 37.77 and a beta of 0.95. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29. The firm’s fifty day moving average is $33.25 and its 200 day moving average is $34.54. Tetra Tech, Inc. has a one year low of $27.27 and a one year high of $51.20.

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

Tetra Tech Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd were given a $0.065 dividend. This is a positive change from Tetra Tech’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $0.26 annualized dividend and a dividend yield of 0.72%. Tetra Tech’s dividend payout ratio (DPR) is 37.68%.

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.