Raymond James Financial Inc. Makes New $8.61 Million Investment in Tetra Tech, Inc. (NASDAQ:TTEK)

Raymond James Financial Inc. purchased a new stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 216,134 shares of the industrial products company’s stock, valued at approximately $8,611,000.

Several other institutional investors and hedge funds have also modified their holdings of TTEK. New England Research & Management Inc. acquired a new stake in shares of Tetra Tech in the fourth quarter worth about $596,000. Nicola Wealth Management LTD. lifted its holdings in Tetra Tech by 36.8% in the 4th quarter. Nicola Wealth Management LTD. now owns 65,000 shares of the industrial products company’s stock worth $2,590,000 after purchasing an additional 17,500 shares during the last quarter. Lecap Asset Management Ltd. boosted its position in Tetra Tech by 71.3% during the fourth quarter. Lecap Asset Management Ltd. now owns 44,769 shares of the industrial products company’s stock worth $1,784,000 after purchasing an additional 18,635 shares during the period. Y Intercept Hong Kong Ltd grew its holdings in Tetra Tech by 53.3% during the fourth quarter. Y Intercept Hong Kong Ltd now owns 39,150 shares of the industrial products company’s stock valued at $1,560,000 after purchasing an additional 13,606 shares during the last quarter. Finally, Perpetual Ltd raised its position in shares of Tetra Tech by 9.6% in the fourth quarter. Perpetual Ltd now owns 215,042 shares of the industrial products company’s stock valued at $8,567,000 after purchasing an additional 18,842 shares during the period. Institutional investors and hedge funds own 93.89% of the company’s stock.

Insider Activity

In related news, Director Kirsten M. Volpi sold 10,116 shares of the company’s stock in a transaction dated Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total value of $347,282.28. Following the sale, the director now owns 60,196 shares of the company’s stock, valued at $2,066,528.68. The trade was a 14.39 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 recently issued reports on TTEK. Maxim Group lowered shares of Tetra Tech from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Royal Bank of Canada set a $49.00 price objective on Tetra Tech in a research note on Friday, January 31st. Finally, KeyCorp decreased their target price on Tetra Tech from $45.00 to $34.00 and set an “overweight” rating for the company in a research note on Wednesday, April 16th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $45.72.

Tetra Tech Stock Performance

NASDAQ:TTEK opened at $30.65 on Wednesday. The firm’s 50-day moving average is $29.60 and its 200-day moving average is $38.00. The company has a market cap of $8.22 billion, a price-to-earnings ratio of 32.20 and a beta of 0.89. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29. Tetra Tech, Inc. has a 52-week low of $27.27 and a 52-week high of $51.20.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. Equities research analysts anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were issued a $0.058 dividend. This represents a $0.23 annualized dividend and a yield of 0.76%. The ex-dividend date of this dividend was Wednesday, February 12th. Tetra Tech’s dividend payout ratio (DPR) is presently 24.21%.

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.