Tetra Tech, Inc. (TTEK) to Issue Quarterly Dividend of $0.07 on June 5th

Tetra Tech, Inc. (NASDAQ:TTEK) announced a quarterly dividend on Monday, May 5th, Wall Street Journal reports. Stockholders of record on Friday, May 23rd will be given a dividend of 0.065 per share by the industrial products company on Thursday, June 5th. This represents a $0.26 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend is Friday, May 23rd. This is a 12.1% increase from Tetra Tech’s previous quarterly dividend of $0.06.

Tetra Tech has increased its dividend payment by an average of 13.6% annually over the last three years and has raised its dividend annually for the last 11 consecutive years. Tetra Tech has a dividend payout ratio of 16.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Tetra Tech to earn $1.55 per share next year, which means the company should continue to be able to cover its $0.26 annual dividend with an expected future payout ratio of 16.8%.

Tetra Tech Price Performance

TTEK opened at $35.45 on Wednesday. The business has a fifty day moving average of $30.90 and a 200 day moving average of $35.72. Tetra Tech has a 52-week low of $27.27 and a 52-week high of $51.20. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 0.53. The stock has a market cap of $9.34 billion, a P/E ratio of 37.24 and a beta of 0.92.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. The firm had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the prior year, the business posted $0.28 EPS. The firm’s quarterly revenue was up 25.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Tetra Tech will post 1.37 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently commented on TTEK shares. KeyCorp raised their target price on Tetra Tech from $34.00 to $41.00 and gave the stock an “overweight” rating in a report on Friday, May 9th. Robert W. Baird lifted 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. Royal Bank of Canada set a $49.00 price objective on Tetra Tech in a research note on Friday, January 31st. Finally, Maxim Group lowered Tetra Tech from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $41.00.

Institutional Investors Weigh In On Tetra Tech

Large investors have recently bought and sold shares of the stock. Brighton Jones LLC purchased a new position in shares of Tetra Tech in the 4th quarter valued at about $225,000. AQR Capital Management LLC increased its holdings in shares of Tetra Tech by 451.6% in the 1st quarter. AQR Capital Management LLC now owns 145,077 shares of the industrial products company’s stock valued at $4,204,000 after acquiring an additional 118,774 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Tetra Tech by 136.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,658,349 shares of the industrial products company’s stock valued at $48,507,000 after acquiring an additional 957,050 shares during the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

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.