Tetra Tech, Inc. (NASDAQ:TTEK) Shares Bought by State of Michigan Retirement System

State of Michigan Retirement System boosted its position in shares of Tetra Tech, Inc. (NASDAQ:TTEKFree Report) by 2.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,108 shares of the industrial products company’s stock after acquiring an additional 300 shares during the period. State of Michigan Retirement System’s holdings in Tetra Tech were worth $2,421,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. purchased a new stake in shares of Tetra Tech during the 4th quarter worth approximately $26,000. Rise Advisors LLC purchased a new stake in shares of Tetra Tech during the 1st quarter worth approximately $27,000. Jones Financial Companies Lllp purchased a new stake in shares of Tetra Tech during the 4th quarter worth approximately $33,000. Principal Securities Inc. purchased a new stake in shares of Tetra Tech during the 4th quarter worth approximately $36,000. Finally, GAMMA Investing LLC purchased a new stake in shares of Tetra Tech during the 4th quarter worth approximately $38,000. Institutional investors and hedge funds own 93.89% of the company’s stock.

Tetra Tech Stock Performance

Shares of TTEK opened at $203.65 on Thursday. The company has a 50-day simple moving average of $208.96 and a 200-day simple moving average of $187.38. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $10.90 billion, a PE ratio of 41.22 and a beta of 0.93. Tetra Tech, Inc. has a 52-week low of $143.35 and a 52-week high of $221.40.

Tetra Tech (NASDAQ:TTEKGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.29 by $0.13. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate 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 was down 9.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.17 EPS. Equities research analysts predict that Tetra Tech, Inc. will post 6.2 earnings per share for the current fiscal year.

Tetra Tech Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were issued a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date was Friday, May 17th. This is an increase from Tetra Tech’s previous quarterly dividend of $0.26. Tetra Tech’s dividend payout ratio (DPR) is currently 23.48%.

Insider Activity

In other Tetra Tech news, EVP Leslie L. Shoemaker sold 11,161 shares of the firm’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $211.83, for a total transaction of $2,364,234.63. Following the completion of the transaction, the executive vice president now directly owns 74,887 shares in the company, valued at approximately $15,863,313.21. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TTEK. Robert W. Baird boosted their price objective on shares of Tetra Tech from $200.00 to $223.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 15th. StockNews.com downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Wednesday, June 19th. KeyCorp increased their price target on shares of Tetra Tech from $231.00 to $234.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Maxim Group increased their price target on shares of Tetra Tech from $234.00 to $268.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. Finally, Northcoast Research upgraded shares of Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 price target for the company in a research note on Thursday, May 2nd. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $236.60.

Check Out Our Latest Analysis on TTEK

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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