Pacad Investment Ltd. grew its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 333.3% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,200 shares of the industrial products company’s stock after acquiring an additional 4,000 shares during the quarter. Pacad Investment Ltd.’s holdings in Tetra Tech were worth $238,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. boosted its holdings 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 valued at $332,349,000 after acquiring an additional 8,068,959 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Tetra Tech by 6.2% during the first quarter. Vanguard Group Inc. now owns 5,212,870 shares of the industrial products company’s stock worth $212,946,000 after purchasing an additional 302,821 shares during the period. State Street Corp lifted its holdings in shares of Tetra Tech by 6.8% during the first quarter. State Street Corp now owns 1,428,061 shares of the industrial products company’s stock worth $58,339,000 after purchasing an additional 90,381 shares during the period. RidgeWorth Capital Management LLC lifted its holdings in shares of Tetra Tech by 32.5% during 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 purchasing an additional 343,222 shares during the period. Finally, Rice Hall James & Associates LLC lifted its holdings in shares of Tetra Tech by 12.0% during the second quarter. Rice Hall James & Associates LLC now owns 1,256,181 shares of the industrial products company’s stock worth $57,470,000 after purchasing an additional 134,770 shares during the period. 84.78% of the stock is owned by institutional investors and hedge funds.
Several brokerages recently weighed in on TTEK. Roth Capital set a $52.00 price target on Tetra Tech and gave the stock a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research raised Tetra Tech from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a report on Tuesday, July 4th. Canaccord Genuity reaffirmed a “buy” rating and set a $52.00 price target on shares of Tetra Tech in a report on Wednesday, June 7th. Stifel Nicolaus reaffirmed a “hold” rating and set a $50.00 price target on shares of Tetra Tech in a report on Friday, July 7th. Finally, BidaskClub downgraded Tetra Tech from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 21st. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $49.50.
Shares of Tetra Tech, Inc. (TTEK) opened at 43.95 on Tuesday. Tetra Tech, Inc. has a one year low of $34.76 and a one year high of $48.35. The firm has a market capitalization of $2.49 billion, a P/E ratio of 22.28 and a beta of 1.05. The company’s 50 day moving average price is $42.93 and its 200 day moving average price is $43.50.
Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.54 by $0.01. Tetra Tech had a net margin of 4.17% and a return on equity of 13.65%. The company had revenue of $498.47 million for the quarter, compared to analyst estimates of $535.18 million. During the same quarter in the prior year, the firm earned $0.50 EPS. The company’s revenue for the quarter was up .0% compared to the same quarter last year. On average, analysts expect that Tetra Tech, Inc. will post $2.11 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 1st. Investors of record on Thursday, August 17th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, August 15th. This represents a $0.40 dividend on an annualized basis and a yield of 0.91%. Tetra Tech’s dividend payout ratio is currently 20.30%.
About Tetra Tech
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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