Tetra Tech, Inc. (NASDAQ:TTEK) Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC decreased its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 5.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,546 shares of the industrial products company’s stock after selling 471 shares during the quarter. Park Avenue Securities LLC’s holdings in Tetra Tech were worth $250,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Tetra Tech by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 25,912,103 shares of the industrial products company’s stock worth $1,032,338,000 after purchasing an additional 127,757 shares in the last quarter. Pictet Asset Management Holding SA grew its position in Tetra Tech by 2.8% during the 4th quarter. Pictet Asset Management Holding SA now owns 14,018,887 shares of the industrial products company’s stock worth $558,512,000 after purchasing an additional 381,437 shares in the last quarter. Sarasin & Partners LLP purchased a new position in Tetra Tech during the 1st quarter worth approximately $144,799,000. Amundi grew its position in Tetra Tech by 2.5% during the 4th quarter. Amundi now owns 4,873,176 shares of the industrial products company’s stock worth $194,314,000 after purchasing an additional 117,304 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Tetra Tech by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 4,729,696 shares of the industrial products company’s stock worth $188,487,000 after purchasing an additional 13,616 shares in the last quarter. Institutional investors and hedge funds own 93.89% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on TTEK. Maxim Group lowered shares of Tetra Tech from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Robert W. Baird lifted 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. Finally, KeyCorp lifted 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. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $41.00.

Tetra Tech Stock Down 0.3%

Tetra Tech stock opened at $35.96 on Tuesday. Tetra Tech, Inc. has a fifty-two week low of $27.27 and a fifty-two week high of $51.20. 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 $9.48 billion, a price-to-earnings ratio of 37.77 and a beta of 0.95. The company’s 50 day simple moving average is $33.25 and its 200 day simple moving average is $34.54.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings results on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share (EPS) 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 company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the previous year, the business earned $0.28 EPS. The firm’s revenue was up 25.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd were paid a $0.065 dividend. This is a positive change from Tetra Tech’s previous quarterly dividend of $0.06. This represents a $0.26 annualized dividend and a yield of 0.72%. The ex-dividend date of this dividend was Friday, May 23rd. Tetra Tech’s payout ratio is presently 37.68%.

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.