Wealth Enhancement Advisory Services LLC Lowers Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Wealth Enhancement Advisory Services LLC cut its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 8.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,913 shares of the industrial products company’s stock after selling 1,831 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Tetra Tech were worth $793,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Asset Planning Inc purchased a new position in shares of Tetra Tech during the fourth quarter valued at approximately $40,000. Jones Financial Companies Lllp lifted its holdings in shares of Tetra Tech by 98.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 495 shares during the last quarter. Caption Management LLC purchased a new position in shares of Tetra Tech during the fourth quarter valued at approximately $40,000. Blue Trust Inc. lifted its holdings in shares of Tetra Tech by 235.8% during the fourth quarter. Blue Trust Inc. now owns 1,444 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 1,014 shares during the last quarter. Finally, Johnson Financial Group Inc. purchased a new position in shares of Tetra Tech during the fourth quarter valued at approximately $61,000. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TTEK. Maxim Group downgraded shares of Tetra Tech from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. KeyCorp raised their price target on shares of Tetra Tech from $34.00 to $41.00 and gave the company an “overweight” rating in a research report on Friday, May 9th. Finally, Robert W. Baird raised their price target on shares of Tetra Tech from $31.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $41.00.

Tetra Tech Stock Down 0.9%

TTEK opened at $35.27 on Tuesday. 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 firm has a 50 day moving average price of $32.53 and a 200-day moving average price of $34.74. Tetra Tech, Inc. has a twelve month low of $27.27 and a twelve month high of $51.20. The stock has a market capitalization of $9.29 billion, a price-to-earnings ratio of 37.05 and a beta of 0.95.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.02. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. 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 previous year, the company earned $0.28 earnings per share. The firm’s quarterly revenue was up 25.9% on a year-over-year basis. Equities research analysts forecast that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd were issued a dividend of $0.065 per share. This is a boost from Tetra Tech’s previous quarterly dividend of $0.06. This represents a $0.26 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date was Friday, May 23rd. Tetra Tech’s dividend payout ratio is currently 37.68%.

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.