GAMMA Investing LLC Grows Stake in Tetra Tech, Inc. (NASDAQ:TTEK)

GAMMA Investing LLC lifted its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 2,784.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,814 shares of the industrial products company’s stock after purchasing an additional 83,804 shares during the period. GAMMA Investing LLC’s holdings in Tetra Tech were worth $2,539,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Asset Planning Inc purchased a new stake in shares of Tetra Tech during the fourth quarter worth about $40,000. Jones Financial Companies Lllp grew its stake in Tetra Tech by 98.0% during the 4th quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 495 shares in the last quarter. Caption Management LLC purchased a new stake in Tetra Tech during the 4th quarter valued at about $40,000. MassMutual Private Wealth & Trust FSB grew its stake in Tetra Tech by 734.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,685 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 1,483 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in Tetra Tech by 235.8% during the 4th quarter. Blue Trust Inc. now owns 1,444 shares of the industrial products company’s stock valued at $58,000 after acquiring an additional 1,014 shares in the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Tetra Tech Stock Performance

NASDAQ:TTEK opened at $36.25 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market capitalization of $9.55 billion, a price-to-earnings ratio of 38.08 and a beta of 0.95. The company’s 50-day moving average is $32.93 and its two-hundred day moving average is $34.71. Tetra Tech, Inc. has a 1-year low of $27.27 and a 1-year high of $51.20.

Tetra Tech (NASDAQ:TTEK) last posted its earnings results 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. The company had revenue of $1.10 billion for 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%. Tetra Tech’s revenue was up 25.9% on a year-over-year basis. During the same period in the previous year, the business posted $0.28 EPS. Analysts forecast that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Friday, May 23rd were given a dividend of $0.065 per share. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.72%. This is a boost from Tetra Tech’s previous quarterly dividend of $0.06. Tetra Tech’s dividend payout ratio (DPR) is presently 37.68%.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Maxim Group cut shares of Tetra Tech from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. KeyCorp upped their price objective on shares of Tetra Tech from $34.00 to $41.00 and gave the company an “overweight” rating in a research note on Friday, May 9th. Finally, Robert W. Baird upped their price objective on shares of Tetra Tech from $31.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $41.00.

Tetra Tech Profile

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.