Artemis Investment Management LLP Invests $3.06 Million in Tetra Tech, Inc. (NASDAQ:TTEK)

Artemis Investment Management LLP acquired a new position in Tetra Tech, Inc. (NASDAQ:TTEK) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 104,706 shares of the industrial products company’s stock, valued at approximately $3,063,000.

Other institutional investors have also recently made changes to their positions in the company. Perpetual Ltd raised its stake in Tetra Tech by 38.1% during the 1st quarter. Perpetual Ltd now owns 296,938 shares of the industrial products company’s stock valued at $8,685,000 after purchasing an additional 81,896 shares during the period. Robeco Institutional Asset Management B.V. raised its stake in Tetra Tech by 0.4% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 582,409 shares of the industrial products company’s stock valued at $17,035,000 after purchasing an additional 2,125 shares during the period. Riverbend Wealth Management LLC bought a new stake in Tetra Tech during the 1st quarter valued at approximately $298,000. GHP Investment Advisors Inc. raised its stake in Tetra Tech by 6.0% during the 1st 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 during the period. Finally, Cambridge Investment Research Advisors Inc. raised its stake in Tetra Tech by 39.9% during the 1st 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 during the period. Institutional investors own 93.89% of the company’s stock.

Analysts Set New Price Targets

TTEK has been the topic of several recent analyst reports. KeyCorp lifted their target price on Tetra Tech from $34.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Maxim Group cut Tetra Tech from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Finally, Robert W. Baird raised their price target on Tetra Tech from $31.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $41.00.

Tetra Tech Stock Performance

NASDAQ TTEK opened at $35.64 on Friday. The stock has a market capitalization of $9.39 billion, a PE ratio of 51.80 and a beta of 0.95. The business has a 50 day simple moving average of $34.27 and a two-hundred day simple moving average of $34.23. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.10 and a quick ratio of 1.10. Tetra Tech, Inc. has a 1-year low of $27.27 and a 1-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 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.02. The business 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 23.31% and a net margin of 3.44%. The firm’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.28 EPS. On average, research analysts predict that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal 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 issued a $0.065 dividend. This is a boost 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 dividend on an annualized basis and a dividend yield of 0.73%. Tetra Tech’s payout ratio is 37.68%.

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.