Avantax Advisory Services Inc. Raises Stock Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Avantax Advisory Services Inc. boosted its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 21.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,895 shares of the industrial products company’s stock after purchasing an additional 2,468 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Tetra Tech were worth $406,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. SFE Investment Counsel boosted its position in Tetra Tech by 190.7% during the first quarter. SFE Investment Counsel now owns 84,441 shares of the industrial products company’s stock worth $2,470,000 after purchasing an additional 55,393 shares in the last quarter. AE Wealth Management LLC purchased a new position in Tetra Tech during the first quarter worth approximately $292,000. KLP Kapitalforvaltning AS boosted its position in Tetra Tech by 3.2% during the first quarter. KLP Kapitalforvaltning AS now owns 57,200 shares of the industrial products company’s stock worth $1,673,000 after purchasing an additional 1,800 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its position in Tetra Tech by 46.9% during the first quarter. Y Intercept Hong Kong Ltd now owns 57,528 shares of the industrial products company’s stock worth $1,683,000 after purchasing an additional 18,378 shares in the last quarter. Finally, Allianz Asset Management GmbH raised its holdings in shares of Tetra Tech by 7.6% during the first quarter. Allianz Asset Management GmbH now owns 2,248,668 shares of the industrial products company’s stock valued at $65,774,000 after acquiring an additional 158,205 shares during the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Tetra Tech Price Performance

NASDAQ:TTEK opened at $37.27 on Thursday. Tetra Tech, Inc. has a one year low of $27.27 and a one year high of $51.20. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.10 and a current ratio of 1.18. The stock has a market cap of $9.79 billion, a PE ratio of 46.59 and a beta of 0.92. The stock has a 50 day moving average price of $36.35 and a 200 day moving average price of $33.51.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.37 by $0.06. Tetra Tech had a return on equity of 24.70% and a net margin of 3.94%. The firm had revenue of $1.15 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the firm earned $1.59 earnings per share. The business’s revenue for the quarter was up 1.9% 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 Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be issued a $0.065 dividend. This represents a $0.26 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, August 15th. Tetra Tech’s dividend payout ratio (DPR) is currently 32.50%.

Wall Street Analyst Weigh In

TTEK has been the subject of a number of research analyst reports. Wall Street Zen raised Tetra Tech from a “hold” rating to a “buy” rating in a report on Saturday, August 2nd. Robert W. Baird increased their target price on Tetra Tech from $31.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Finally, KeyCorp increased their target price on Tetra Tech from $41.00 to $43.00 and gave the company an “overweight” rating in a report on Friday, August 1st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $41.67.

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.