OneDigital Investment Advisors LLC Increases Stake in Tetra Tech, Inc. (NASDAQ:TTEK)

OneDigital Investment Advisors LLC lifted its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 40.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,266 shares of the industrial products company’s stock after acquiring an additional 2,670 shares during the period. OneDigital Investment Advisors LLC’s holdings in Tetra Tech were worth $271,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in shares of 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 acquiring an additional 127,757 shares during the period. Pictet Asset Management Holding SA lifted its holdings in shares of 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 acquiring an additional 381,437 shares during the period. Sarasin & Partners LLP purchased a new position in shares of Tetra Tech during the 1st quarter worth about $144,799,000. Geode Capital Management LLC increased 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. Finally, Norges Bank acquired a new stake in Tetra Tech during the 4th quarter worth approximately $121,390,000. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Tetra Tech Stock Up 0.2%

Shares of NASDAQ:TTEK opened at $36.59 on Friday. 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, Inc. has a 52-week low of $27.27 and a 52-week high of $51.20. The company has a 50 day moving average of $35.31 and a two-hundred day moving average of $33.86. The company has a market capitalization of $9.64 billion, a price-to-earnings ratio of 53.18 and a beta of 0.94.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings data 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 3.44% and a return on equity of 23.31%. The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the company earned $0.28 earnings per share. Tetra Tech’s revenue for the quarter was up 25.9% on a year-over-year basis. As a group, analysts forecast that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Stockholders 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 0.71%. This is an increase from Tetra Tech’s previous quarterly dividend of $0.06. Tetra Tech’s dividend payout ratio (DPR) is presently 37.68%.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. KeyCorp increased their target price on shares of Tetra Tech from $34.00 to $41.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Maxim Group downgraded shares of Tetra Tech from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Finally, Robert W. Baird increased their target price on shares of Tetra Tech from $31.00 to $33.00 and gave the stock 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $41.00.

Tetra Tech Company 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.