Schroder Investment Management Group Purchases 125,390 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Schroder Investment Management Group raised its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEKFree Report) by 320.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 164,503 shares of the industrial products company’s stock after purchasing an additional 125,390 shares during the quarter. Schroder Investment Management Group owned 0.31% of Tetra Tech worth $27,460,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in TTEK. Norges Bank acquired a new stake in Tetra Tech during the fourth quarter valued at approximately $96,655,000. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in Tetra Tech during the fourth quarter valued at approximately $82,209,000. International Assets Investment Management LLC boosted its holdings in Tetra Tech by 16,621.9% during the fourth quarter. International Assets Investment Management LLC now owns 221,064 shares of the industrial products company’s stock valued at $36,902,000 after purchasing an additional 219,742 shares in the last quarter. Sarasin & Partners LLP boosted its holdings in Tetra Tech by 18.3% during the fourth quarter. Sarasin & Partners LLP now owns 1,221,928 shares of the industrial products company’s stock valued at $203,976,000 after purchasing an additional 189,049 shares in the last quarter. Finally, Bank of Nova Scotia acquired a new stake in Tetra Tech during the third quarter valued at approximately $23,934,000. 93.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on TTEK. KeyCorp boosted their target price on Tetra Tech from $231.00 to $234.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Robert W. Baird boosted their target price on Tetra Tech from $200.00 to $223.00 and gave the stock a “neutral” rating in a report on Wednesday, May 15th. Royal Bank of Canada boosted their target price on Tetra Tech from $203.00 to $233.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. StockNews.com raised Tetra Tech from a “hold” rating to a “buy” rating in a report on Tuesday, May 14th. Finally, Maxim Group boosted their target price on Tetra Tech from $234.00 to $268.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.60.

Get Our Latest Stock Report on Tetra Tech

Tetra Tech Stock Performance

TTEK stock opened at $205.01 on Tuesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.24 and a quick ratio of 1.24. The company has a 50 day moving average price of $202.70 and a 200 day moving average price of $182.23. Tetra Tech, Inc. has a fifty-two week low of $143.35 and a fifty-two week high of $221.40. The stock has a market capitalization of $10.97 billion, a PE ratio of 41.50 and a beta of 0.98.

Tetra Tech (NASDAQ:TTEKGet Free Report) last issued its earnings results on Wednesday, May 1st. The industrial products company reported $1.42 EPS for the quarter, beating the consensus estimate of $1.29 by $0.13. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. Tetra Tech had a net margin of 5.36% and a return on equity of 21.16%. The business’s revenue for the quarter was down 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.17 EPS. Analysts forecast that Tetra Tech, Inc. will post 6.2 EPS for the current year.

Tetra Tech Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were given a dividend of $0.29 per share. This is a boost from Tetra Tech’s previous quarterly dividend of $0.26. The ex-dividend date was Friday, May 17th. This represents a $1.16 annualized dividend and a dividend yield of 0.57%. Tetra Tech’s payout ratio is presently 23.48%.

About Tetra Tech

(Free Report)

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.

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Institutional Ownership by Quarter for Tetra Tech (NASDAQ:TTEK)

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