Trillium Asset Management LLC purchased a new stake in Tetra Tech, Inc. (NASDAQ:TTEK – Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 647,910 shares of the industrial products company’s stock, valued at approximately $18,718,000. Trillium Asset Management LLC owned approximately 0.25% of Tetra Tech as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Tetra Tech during the fourth quarter worth $115,162,000. Impax Asset Management Group plc acquired a new position in Tetra Tech in the 4th quarter worth $107,603,000. Energy Income Partners LLC bought a new position in Tetra Tech during the 2nd quarter worth about $68,512,000. AQR Capital Management LLC increased its holdings in Tetra Tech by 351.6% during the 4th quarter. AQR Capital Management LLC now owns 2,875,372 shares of the industrial products company’s stock worth $96,440,000 after purchasing an additional 2,238,721 shares in the last quarter. Finally, Capital International Investors raised its stake in shares of Tetra Tech by 27.4% in the 4th quarter. Capital International Investors now owns 9,016,577 shares of the industrial products company’s stock valued at $302,416,000 after purchasing an additional 1,936,902 shares during the period. Institutional investors and hedge funds own 93.89% of the company’s stock.
Tetra Tech Stock Performance
TTEK opened at $36.57 on Friday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.43. Tetra Tech, Inc. has a 12-month low of $25.81 and a 12-month high of $43.14. The business has a 50 day moving average of $31.68 and a 200-day moving average of $31.88. The stock has a market cap of $9.36 billion, a price-to-earnings ratio of 22.03 and a beta of 0.90.
Tetra Tech Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Thursday, August 13th will be given a $0.072 dividend. The ex-dividend date is Thursday, August 13th. This represents a $0.29 dividend on an annualized basis and a dividend yield of 0.8%. Tetra Tech’s dividend payout ratio (DPR) is presently 17.47%.
Analysts Set New Price Targets
TTEK has been the subject of several recent research reports. National Bank Financial reduced their price objective on Tetra Tech from $38.00 to $35.00 and set an “outperform” rating for the company in a research report on Monday, July 13th. Robert W. Baird set a $37.00 target price on Tetra Tech in a research report on Thursday, July 30th. Weiss Ratings upgraded Tetra Tech from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, August 7th. Royal Bank Of Canada reduced their price target on Tetra Tech from $48.00 to $43.00 and set an “outperform” rating for the company in a research report on Wednesday, July 22nd. Finally, Wall Street Zen raised shares of Tetra Tech from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $38.25.
Read Our Latest Stock Analysis on TTEK
Tetra Tech Company Profile
Tetra Tech, Inc is a leading provider of consulting and engineering services with a focus on water, environment, infrastructure, resource management and energy sectors. Headquartered in Pasadena, California, the company delivers end-to-end solutions that encompass planning, design, engineering, program management and construction management. Tetra Tech’s multidisciplinary teams integrate science, technology and advisory services to address complex challenges in areas such as water resources, environmental remediation, sustainable infrastructure and renewable energy.
The company’s core offerings include environmental assessments and cleanup, water treatment and reuse, coastal and marine engineering, climate resilience planning, and engineering design for transportation and built environments.
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