Tetra Tech, Inc. (NASDAQ:TTEK) Stake Lowered by Cetera Investment Advisers

Cetera Investment Advisers reduced its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 2.1% during the 4th quarter, HoldingsChannel reports. The fund owned 53,297 shares of the industrial products company’s stock after selling 1,121 shares during the period. Cetera Investment Advisers’ holdings in Tetra Tech were worth $2,123,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TTEK. Merit Financial Group LLC purchased a new position in shares of Tetra Tech during the 4th quarter valued at $361,000. HB Wealth Management LLC purchased a new position in shares of Tetra Tech during the 4th quarter valued at $299,000. Crossmark Global Holdings Inc. grew its holdings in shares of Tetra Tech by 353.1% during the 4th quarter. Crossmark Global Holdings Inc. now owns 94,429 shares of the industrial products company’s stock valued at $3,762,000 after acquiring an additional 73,589 shares in the last quarter. Perpetual Ltd grew its holdings in shares of Tetra Tech by 9.6% during the 4th quarter. Perpetual Ltd now owns 215,042 shares of the industrial products company’s stock valued at $8,567,000 after acquiring an additional 18,842 shares in the last quarter. Finally, Simon Quick Advisors LLC purchased a new position in shares of Tetra Tech during the 4th quarter valued at $200,000. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on TTEK shares. KeyCorp boosted their price target on shares of Tetra Tech from $34.00 to $41.00 and gave the company an “overweight” rating in a report on Friday, May 9th. 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 shares of Tetra Tech in a research note on Friday, January 31st. Finally, Robert W. Baird lifted their price objective on shares of Tetra Tech from $31.00 to $33.00 and gave the company a “neutral” rating in a research note on Thursday, May 8th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Tetra Tech has an average rating of “Hold” and a consensus price target of $41.00.

Tetra Tech Stock Up 0.5%

TTEK stock opened at $35.37 on Monday. 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, Inc. has a 1 year low of $27.27 and a 1 year high of $51.20. The company has a fifty day simple moving average of $30.64 and a 200 day simple moving average of $35.81. The firm has a market cap of $9.32 billion, a PE ratio of 37.15 and a beta of 0.92.

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, topping analysts’ consensus estimates of $0.31 by $0.02. The firm had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.05 billion. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. The business’s revenue was up 25.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.28 EPS. Sell-side analysts anticipate that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd will be given a dividend of $0.065 per share. This is a positive change from Tetra Tech’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend is Friday, May 23rd. This represents a $0.26 dividend on an annualized basis and a yield of 0.74%. Tetra Tech’s payout ratio is currently 37.68%.

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.