Raymond James Financial Inc. Buys New Shares in Tetra Tech, Inc. (NASDAQ:TTEK)

Raymond James Financial Inc. bought a new stake in Tetra Tech, Inc. (NASDAQ:TTEK) during the 4th quarter, HoldingsChannel.com reports. The fund bought 216,134 shares of the industrial products company’s stock, valued at approximately $8,611,000.

Other hedge funds have also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund grew its position in shares of Tetra Tech by 0.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 54,525 shares of the industrial products company’s stock valued at $2,172,000 after acquiring an additional 400 shares during the period. Nordea Investment Management AB grew its position in shares of Tetra Tech by 0.9% during the 4th quarter. Nordea Investment Management AB now owns 45,422 shares of the industrial products company’s stock valued at $1,809,000 after acquiring an additional 411 shares during the period. CIBC Asset Management Inc grew its position in shares of Tetra Tech by 5.6% during the 4th quarter. CIBC Asset Management Inc now owns 8,318 shares of the industrial products company’s stock valued at $331,000 after acquiring an additional 438 shares during the period. Jones Financial Companies Lllp grew its position in shares of Tetra Tech by 98.0% during the 4th quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company’s stock valued at $40,000 after acquiring an additional 495 shares during the period. Finally, Canton Hathaway LLC grew its position in shares of Tetra Tech by 400.0% during the 3rd quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company’s stock valued at $30,000 after acquiring an additional 516 shares during the period. 93.89% of the stock is owned by institutional investors and hedge funds.

Tetra Tech Trading Down 0.8 %

Shares of Tetra Tech stock opened at $29.04 on Friday. The firm has a market capitalization of $7.78 billion, a PE ratio of 30.50 and a beta of 0.93. Tetra Tech, Inc. has a twelve month low of $28.17 and a twelve month high of $51.20. The firm’s 50-day moving average price is $33.41 and its 200 day moving average price is $40.81. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53.

Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.01. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. On average, sell-side analysts predict that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were paid a $0.058 dividend. This represents a $0.23 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date of this dividend was Wednesday, February 12th. Tetra Tech’s dividend payout ratio (DPR) is 24.21%.

Insiders Place Their Bets

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the firm’s stock in a transaction that occurred on Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total value of $347,282.28. Following the transaction, the director now directly owns 60,196 shares of the company’s stock, valued at $2,066,528.68. This trade represents a 14.39 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.40% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on TTEK. KeyCorp dropped their target price on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Royal Bank of Canada set a $49.00 price target on shares of Tetra Tech in a research note on Friday, January 31st. Finally, Maxim Group lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $47.92.

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.