State of Alaska Department of Revenue Increases Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

State of Alaska Department of Revenue boosted its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 2.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 31,410 shares of the industrial products company’s stock after buying an additional 885 shares during the period. State of Alaska Department of Revenue’s holdings in Tetra Tech were worth $918,000 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. lifted its stake in shares of Tetra Tech by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 25,912,103 shares of the industrial products company’s stock valued at $1,032,338,000 after acquiring an additional 127,757 shares during the last quarter. Pictet Asset Management Holding SA boosted its stake 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 valued at $558,512,000 after purchasing an additional 381,437 shares during the last quarter. Sarasin & Partners LLP purchased a new stake in Tetra Tech during the 1st quarter valued at $144,799,000. Amundi lifted its holdings in shares of Tetra Tech by 2.5% during the 4th quarter. Amundi now owns 4,873,176 shares of the industrial products company’s stock valued at $194,314,000 after buying an additional 117,304 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of 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 valued at $188,487,000 after buying an additional 13,616 shares during the period. Institutional investors own 93.89% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Tetra Tech Stock Up 0.2%

Shares of NASDAQ:TTEK opened at $36.05 on Friday. Tetra Tech, Inc. has a 52-week low of $27.27 and a 52-week high of $51.20. The stock has a market cap of $9.50 billion, a P/E ratio of 52.40 and a beta of 0.95. The business’s 50 day moving average is $34.16 and its 200 day moving average is $34.27. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.49.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.33 EPS for the quarter, beating the consensus estimate of $0.31 by $0.02. Tetra Tech had a return on equity of 23.31% and a net margin of 3.44%. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the business posted $0.28 EPS. The business’s revenue for the quarter was up 25.9% compared to the same quarter last year. Sell-side analysts predict that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Investors 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. The ex-dividend date of this dividend was Friday, May 23rd. This represents a $0.26 dividend on an annualized basis and a yield of 0.72%. Tetra Tech’s dividend payout ratio (DPR) is 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.