State of Tennessee Treasury Department held its position in Tetra Tech, Inc. (NASDAQ:TTEK) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 53,780 shares of the industrial products company’s stock at the close of the second quarter. State of Tennessee Treasury Department owned about 0.09% of Tetra Tech worth $2,460,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Swiss National Bank lifted its holdings in Tetra Tech by 1.9% in the second quarter. Swiss National Bank now owns 96,200 shares of the industrial products company’s stock valued at $4,401,000 after acquiring an additional 1,800 shares during the last quarter. Pacad Investment Ltd. lifted its holdings in Tetra Tech by 333.3% in the second quarter. Pacad Investment Ltd. now owns 5,200 shares of the industrial products company’s stock valued at $238,000 after acquiring an additional 4,000 shares during the last quarter. Chicago Equity Partners LLC acquired a new position in Tetra Tech in the second quarter valued at approximately $1,003,000. Principal Financial Group Inc. lifted its holdings in Tetra Tech by 5.5% in the second quarter. Principal Financial Group Inc. now owns 557,669 shares of the industrial products company’s stock valued at $25,514,000 after acquiring an additional 29,200 shares during the last quarter. Finally, GHP Investment Advisors Inc. lifted its holdings in Tetra Tech by 11.6% in the second quarter. GHP Investment Advisors Inc. now owns 60,180 shares of the industrial products company’s stock valued at $2,753,000 after acquiring an additional 6,265 shares during the last quarter. Hedge funds and other institutional investors own 84.78% of the company’s stock.
Tetra Tech, Inc. (NASDAQ TTEK) opened at 42.95 on Friday. The company has a 50-day moving average price of $42.52 and a 200 day moving average price of $43.53. The stock has a market cap of $2.43 billion, a price-to-earnings ratio of 21.77 and a beta of 1.05. Tetra Tech, Inc. has a 12-month low of $34.78 and a 12-month high of $48.35.
Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings data on Wednesday, August 2nd. The industrial products company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.01). Tetra Tech had a return on equity of 13.65% and a net margin of 4.17%. The firm had revenue of $498.47 million during the quarter, compared to analyst estimates of $535.18 million. During the same quarter in the prior year, the firm earned $0.50 EPS. The business’s quarterly revenue was up .0% compared to the same quarter last year. On average, equities research analysts predict that Tetra Tech, Inc. will post $2.11 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Thursday, August 17th were given a $0.10 dividend. This represents a $0.40 annualized dividend and a dividend yield of 0.93%. The ex-dividend date was Tuesday, August 15th. Tetra Tech’s payout ratio is currently 20.30%.
A number of research analysts recently commented on TTEK shares. Zacks Investment Research upgraded Tetra Tech from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a report on Tuesday, July 4th. Canaccord Genuity restated a “buy” rating and set a $52.00 price target on shares of Tetra Tech in a research note on Friday, August 4th. Stifel Nicolaus restated a “hold” rating and set a $50.00 price target on shares of Tetra Tech in a research note on Friday, July 7th. BidaskClub cut Tetra Tech from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 21st. Finally, Robert W. Baird restated a “hold” rating and set a $47.00 price target on shares of Tetra Tech in a research note on Tuesday, September 5th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $49.50.
About Tetra Tech
Tetra Tech, Inc is a provider of consulting, engineering, program management, construction management, and technical services. The Company’s segments include Water, Environment and Infrastructure (WEI), Resource Management and Energy (RME), and Remediation and Construction Management (RCM). The WEI segment provides consulting and engineering services.
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