Squarepoint Ops LLC Purchases New Shares in Tetra Tech, Inc. (NASDAQ:TTEK)

Squarepoint Ops LLC purchased a new stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 189,447 shares of the industrial products company’s stock, valued at approximately $7,548,000.

Other hedge funds also recently bought and sold shares of the company. R Squared Ltd purchased a new stake in Tetra Tech during the fourth quarter valued at $39,000. Asset Planning Inc purchased a new stake in Tetra Tech during the fourth quarter valued at $40,000. Jones Financial Companies Lllp raised its stake in Tetra Tech by 98.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 495 shares in the last quarter. Caption Management LLC purchased a new stake in Tetra Tech during the fourth quarter valued at $40,000. Finally, Blue Trust Inc. raised its stake in Tetra Tech by 235.8% during the fourth quarter. Blue Trust Inc. now owns 1,444 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 1,014 shares in the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the stock. Maxim Group downgraded shares of Tetra Tech from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. KeyCorp increased their target price on shares of Tetra Tech from $34.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Robert W. Baird increased their target price on shares of Tetra Tech from $31.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Finally, Royal Bank of Canada set a $49.00 target price on shares of Tetra Tech in a research note on Friday, January 31st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $41.00.

Tetra Tech Trading Down 0.1%

Shares of TTEK opened at $35.42 on Friday. Tetra Tech, Inc. has a twelve month low of $27.27 and a twelve month high of $51.20. The company has a market cap of $9.33 billion, a P/E ratio of 37.21 and a beta of 0.92. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53. The company’s fifty day simple moving average is $31.27 and its 200-day simple moving average is $35.52.

Tetra Tech (NASDAQ:TTEK) last announced its 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 for the quarter, compared to the consensus estimate of $1.05 billion. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. The business’s revenue for the quarter was up 25.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.28 earnings per share. As a group, analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Friday, May 23rd will be paid a $0.065 dividend. This represents a $0.26 annualized dividend and a yield of 0.73%. The ex-dividend date of this dividend is Friday, May 23rd. This is an increase from Tetra Tech’s previous quarterly dividend of $0.06. Tetra Tech’s dividend payout ratio (DPR) is currently 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.