Fiduciary Trust Co Increases Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Fiduciary Trust Co lifted its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 7.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 9,888 shares of the industrial products company’s stock after buying an additional 698 shares during the period. Fiduciary Trust Co’s holdings in Tetra Tech were worth $394,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. New England Research & Management Inc. purchased a new position in Tetra Tech during the fourth quarter worth approximately $596,000. Nicola Wealth Management LTD. raised its stake in Tetra Tech by 36.8% during the fourth quarter. Nicola Wealth Management LTD. now owns 65,000 shares of the industrial products company’s stock worth $2,590,000 after purchasing an additional 17,500 shares during the period. Lecap Asset Management Ltd. raised its stake in Tetra Tech by 71.3% during the fourth quarter. Lecap Asset Management Ltd. now owns 44,769 shares of the industrial products company’s stock worth $1,784,000 after purchasing an additional 18,635 shares during the period. Y Intercept Hong Kong Ltd raised its stake in Tetra Tech by 53.3% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 39,150 shares of the industrial products company’s stock worth $1,560,000 after purchasing an additional 13,606 shares during the period. Finally, Perpetual Ltd raised its stake in Tetra Tech by 9.6% during the fourth quarter. Perpetual Ltd now owns 215,042 shares of the industrial products company’s stock worth $8,567,000 after purchasing an additional 18,842 shares during the period. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on TTEK shares. Royal Bank of Canada set a $49.00 price target on shares of Tetra Tech in a research note on Friday, January 31st. KeyCorp raised 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. Maxim Group downgraded shares of Tetra Tech from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Finally, Robert W. Baird raised 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. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Tetra Tech currently has a consensus rating of “Hold” and a consensus price target of $44.15.

Tetra Tech Stock Performance

Shares of TTEK stock opened at $35.49 on Monday. The company’s fifty day simple moving average is $30.07 and its 200-day simple moving average is $36.31. Tetra Tech, Inc. has a 52 week low of $27.27 and a 52 week high of $51.20. 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 has a market cap of $9.51 billion, a PE ratio of 37.28 and a beta of 0.92.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. The business had revenue of $1.10 billion during the quarter, compared to analyst estimates 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 was up 25.9% on a year-over-year basis. During the same period last year, the business earned $0.28 EPS. As a group, equities research analysts anticipate that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Increases Dividend

The company also recently declared 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 represents a $0.26 dividend on an annualized basis and a yield of 0.73%. This is a positive change from Tetra Tech’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Friday, May 23rd. Tetra Tech’s dividend payout ratio (DPR) is presently 24.21%.

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.