Moran Wealth Management LLC Has $5.82 Million Stock Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Moran Wealth Management LLC trimmed its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 7.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 198,893 shares of the industrial products company’s stock after selling 16,365 shares during the quarter. Moran Wealth Management LLC owned approximately 0.07% of Tetra Tech worth $5,818,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. GHP Investment Advisors Inc. boosted its stake in shares of Tetra Tech by 6.0% during the first quarter. GHP Investment Advisors Inc. now owns 207,351 shares of the industrial products company’s stock valued at $6,065,000 after purchasing an additional 11,670 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in shares of Tetra Tech by 39.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 18,496 shares of the industrial products company’s stock valued at $541,000 after purchasing an additional 5,275 shares in the last quarter. TT International Asset Management LTD boosted its stake in shares of Tetra Tech by 3.1% during the first quarter. TT International Asset Management LTD now owns 16,993 shares of the industrial products company’s stock valued at $497,000 after purchasing an additional 515 shares in the last quarter. Praxis Investment Management Inc. acquired a new stake in shares of Tetra Tech during the first quarter valued at about $348,000. Finally, State of Alaska Department of Revenue boosted its stake in shares of Tetra Tech by 2.9% during the first quarter. State of Alaska Department of Revenue now owns 31,410 shares of the industrial products company’s stock valued at $918,000 after purchasing an additional 885 shares in the last quarter. 93.89% of the stock is owned by institutional investors and hedge funds.

Tetra Tech Price Performance

Tetra Tech stock opened at $35.73 on Wednesday. The stock’s 50 day moving average is $33.92 and its 200 day moving average is $34.31. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market cap of $9.41 billion, a P/E ratio of 51.93 and a beta of 0.95. Tetra Tech, Inc. has a one year low of $27.27 and a one year high of $51.20.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.05 billion. Tetra Tech had a return on equity of 23.31% and a net margin of 3.44%. The firm’s quarterly revenue was up 25.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.28 earnings per share. As a group, research analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd were paid a $0.065 dividend. The ex-dividend date was Friday, May 23rd. This is a positive change 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 payout ratio is 37.68%.

Analysts Set New Price Targets

A number of brokerages have recently commented on TTEK. Maxim Group lowered Tetra Tech from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Robert W. Baird lifted their price objective on Tetra Tech from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Finally, KeyCorp lifted their price objective on Tetra Tech from $34.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $41.00.

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.