State Street Corp raised its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 6.8% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,428,061 shares of the industrial products company’s stock after buying an additional 90,381 shares during the period. State Street Corp owned about 2.50% of Tetra Tech worth $58,339,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. BlackRock Inc. boosted its stake in shares of Tetra Tech by 12,066.6% in the first quarter. BlackRock Inc. now owns 8,135,829 shares of the industrial products company’s stock worth $332,349,000 after buying an additional 8,068,959 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Tetra Tech by 6.2% in the first quarter. Vanguard Group Inc. now owns 5,212,870 shares of the industrial products company’s stock worth $212,946,000 after buying an additional 302,821 shares during the last quarter. RidgeWorth Capital Management LLC boosted its stake in shares of Tetra Tech by 32.5% in the first quarter. RidgeWorth Capital Management LLC now owns 1,398,176 shares of the industrial products company’s stock worth $57,115,000 after buying an additional 343,222 shares during the last quarter. Macquarie Group Ltd. boosted its stake in shares of Tetra Tech by 17.0% in the fourth quarter. Macquarie Group Ltd. now owns 1,198,396 shares of the industrial products company’s stock worth $51,711,000 after buying an additional 174,539 shares during the last quarter. Finally, KAMES CAPITAL plc boosted its stake in shares of Tetra Tech by 1,862.0% in the first quarter. KAMES CAPITAL plc now owns 1,049,075 shares of the industrial products company’s stock worth $42,855,000 after buying an additional 995,604 shares during the last quarter. 84.96% of the stock is currently owned by institutional investors and hedge funds.
Tetra Tech, Inc. (NASDAQ:TTEK) opened at 42.95 on Wednesday. Tetra Tech, Inc. has a 12 month low of $33.34 and a 12 month high of $48.35. The stock has a market capitalization of $2.45 billion, a price-to-earnings ratio of 22.66 and a beta of 1.03. The company has a 50-day moving average of $46.02 and a 200 day moving average of $43.57.
Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings results on Wednesday, August 2nd. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.54 by $0.01. The company had revenue of $498.47 million during the quarter, compared to the consensus estimate of $535.18 million. Tetra Tech had a net margin of 4.17% and a return on equity of 13.65%. The business’s revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.50 earnings per share. On average, equities research analysts anticipate that Tetra Tech, Inc. will post $2.17 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 1st. Shareholders of record on Thursday, August 17th will be paid a $0.10 dividend. The ex-dividend date is Tuesday, August 15th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.93%. Tetra Tech’s payout ratio is currently 20.30%.
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A number of research analysts have recently commented on the stock. Zacks Investment Research lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Monday, July 10th. Sidoti restated a “buy” rating and set a $58.00 price target (up from $55.00) on shares of Tetra Tech in a research report on Sunday, May 14th. BidaskClub lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Saturday. Roth Capital set a $52.00 price target on shares of Tetra Tech and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Finally, Canaccord Genuity restated a “buy” rating and set a $52.00 price target on shares of Tetra Tech in a research report on Wednesday, June 7th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $49.75.
In other Tetra Tech news, CFO Steven M. Burdick sold 16,750 shares of Tetra Tech stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $44.87, for a total value of $751,572.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.00% of the company’s stock.
Tetra Tech Company Profile
Tetra Tech, Inc is a provider of consulting, engineering, program management, construction management, and technical services. The Company’s segments include Water, Environment and Infrastructure (WEI), Resource Management and Energy (RME), and Remediation and Construction Management (RCM). The WEI segment provides consulting and engineering services.
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