Novem Group Grows Stake in Tetra Tech, Inc. (NASDAQ:TTEK)

Novem Group grew its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 6.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 14,673 shares of the industrial products company’s stock after purchasing an additional 910 shares during the quarter. Novem Group’s holdings in Tetra Tech were worth $429,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Praxis Investment Management Inc. acquired a new position in Tetra Tech during the 1st quarter worth approximately $348,000. SG Americas Securities LLC raised its stake in shares of Tetra Tech by 259.3% during the first quarter. SG Americas Securities LLC now owns 46,406 shares of the industrial products company’s stock valued at $1,357,000 after purchasing an additional 33,491 shares during the period. Quantbot Technologies LP acquired a new position in shares of Tetra Tech during the fourth quarter worth $1,619,000. Treasurer of the State of North Carolina boosted its stake in shares of Tetra Tech by 8.7% in the fourth quarter. Treasurer of the State of North Carolina now owns 144,595 shares of the industrial products company’s stock valued at $5,761,000 after purchasing an additional 11,530 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Tetra Tech by 11.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 342,637 shares of the industrial products company’s stock valued at $13,651,000 after purchasing an additional 34,375 shares in the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.

Analysts Set New Price Targets

TTEK has been the topic of a number of recent analyst reports. Maxim Group lowered shares of Tetra Tech from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. KeyCorp lifted their target price on Tetra Tech from $34.00 to $41.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Finally, Robert W. Baird boosted their price target on Tetra Tech from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note 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’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $41.00.

Tetra Tech Stock Down 2.4%

Shares of NASDAQ:TTEK opened at $35.72 on Friday. The firm has a market cap of $9.41 billion, a PE ratio of 51.91 and a beta of 0.94. The company has a fifty day simple moving average of $34.70 and a 200 day simple moving average of $34.07. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.49. Tetra Tech, Inc. has a 12-month low of $27.27 and a 12-month high of $51.20.

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

Tetra Tech Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd were paid a dividend of $0.065 per share. The ex-dividend date was Friday, May 23rd. This represents a $0.26 annualized dividend and a yield of 0.73%. This is a boost from Tetra Tech’s previous quarterly dividend of $0.06. Tetra Tech’s dividend payout ratio is presently 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.