Occudo Quantitative Strategies LP Acquires New Shares in Tetra Tech, Inc. (NASDAQ:TTEK)

Occudo Quantitative Strategies LP acquired a new position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 31,362 shares of the industrial products company’s stock, valued at approximately $1,249,000.

Other large investors have also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in shares of Tetra Tech during the fourth quarter valued at $39,000. Asset Planning Inc acquired a new position in Tetra Tech during the 4th quarter valued at about $40,000. Jones Financial Companies Lllp grew its position in Tetra Tech by 98.0% in the 4th quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 495 shares during the last quarter. Caption Management LLC acquired a new stake in shares of Tetra Tech in the fourth quarter valued at approximately $40,000. Finally, Blue Trust Inc. increased its stake in shares of Tetra Tech by 235.8% in 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 during the period. 93.89% of the stock is owned by institutional investors and hedge funds.

Tetra Tech Price Performance

NASDAQ TTEK opened at $35.04 on Wednesday. Tetra Tech, Inc. has a 12 month low of $27.27 and a 12 month high of $51.20. The firm has a market capitalization of $9.39 billion, a PE ratio of 36.81 and a beta of 0.92. The company’s 50 day simple moving average is $30.32 and its 200 day simple moving average is $36.21. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.02. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. The company had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period last year, the firm earned $0.28 EPS. The firm’s revenue for the quarter was up 25.9% on a year-over-year basis. As a group, equities research analysts forecast that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Friday, May 23rd will be issued a dividend of $0.065 per share. This is a positive change from Tetra Tech’s previous quarterly dividend of $0.06. This represents a $0.26 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Friday, May 23rd. Tetra Tech’s payout ratio is presently 37.68%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Maxim Group lowered Tetra Tech from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. 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 report on Thursday, May 8th. Royal Bank of Canada set a $49.00 price target on Tetra Tech in a report on Friday, January 31st. Finally, KeyCorp upped their price objective on shares of Tetra Tech from $34.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Tetra Tech presently has a consensus rating of “Hold” and an average target price of $44.15.

Tetra Tech Company Profile

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.