Tetra Tech, Inc. (NASDAQ:TTEK) Position Cut by Cerity Partners LLC

Cerity Partners LLC trimmed its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 93.6% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 55,079 shares of the industrial products company’s stock after selling 801,684 shares during the quarter. Cerity Partners LLC’s holdings in Tetra Tech were worth $1,611,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in TTEK. Brighton Jones LLC bought a new stake in shares of Tetra Tech during the fourth quarter valued at about $225,000. Commonwealth Equity Services LLC raised its stake in shares of Tetra Tech by 10.2% during the fourth quarter. Commonwealth Equity Services LLC now owns 31,887 shares of the industrial products company’s stock valued at $1,270,000 after purchasing an additional 2,957 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Tetra Tech during the fourth quarter valued at about $1,619,000. KLP Kapitalforvaltning AS acquired a new position in Tetra Tech during the fourth quarter worth about $2,207,000. Finally, Stevens Capital Management LP acquired a new position in Tetra Tech during the fourth quarter worth about $300,000. 93.89% of the stock is currently owned by institutional investors.

Tetra Tech Price Performance

Shares of TTEK stock opened at $37.91 on Tuesday. The stock’s fifty day moving average is $35.81 and its 200-day moving average is $33.73. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.10 and a current ratio of 1.10. The stock has a market capitalization of $9.99 billion, a PE ratio of 55.10 and a beta of 0.94. Tetra Tech, Inc. has a 52 week low of $27.27 and a 52 week high of $51.20.

Tetra Tech (NASDAQ:TTEK) last released 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. 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 for the quarter, compared to analyst estimates of $1.05 billion. During the same quarter in the prior year, the firm posted $0.28 earnings per share. The company’s quarterly revenue was up 25.9% on a year-over-year basis. Equities research analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 5th. Investors of record on Friday, May 23rd were issued a dividend of $0.065 per share. The ex-dividend date was Friday, May 23rd. This is an increase from Tetra Tech’s previous quarterly dividend of $0.06. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.69%. Tetra Tech’s dividend payout ratio (DPR) is presently 37.68%.

Wall Street Analysts Forecast Growth

TTEK has been the topic of a number of analyst reports. KeyCorp lifted their price target on Tetra Tech from $34.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Robert W. Baird lifted their price target on Tetra Tech from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Finally, Maxim Group cut Tetra Tech from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Three 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 currently has an average rating of “Hold” and a consensus target price 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.