State of Alaska Department of Revenue Raises Stock Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

State of Alaska Department of Revenue increased its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 2.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,410 shares of the industrial products company’s stock after acquiring an additional 885 shares during the period. State of Alaska Department of Revenue’s holdings in Tetra Tech were worth $918,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nicola Wealth Management LTD. raised its stake 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 acquiring an additional 17,500 shares during the last quarter. SG Americas Securities LLC raised its stake in Tetra Tech by 259.3% in the 1st quarter. SG Americas Securities LLC now owns 46,406 shares of the industrial products company’s stock worth $1,357,000 after acquiring an additional 33,491 shares during the last quarter. Robeco Schweiz AG grew its position in Tetra Tech by 26.5% during the 4th quarter. Robeco Schweiz AG now owns 2,449,875 shares of the industrial products company’s stock worth $97,603,000 after purchasing an additional 512,931 shares during the period. Patten Group Inc. acquired a new stake in Tetra Tech during the 4th quarter worth about $851,000. Finally, Quantbot Technologies LP acquired a new stake in Tetra Tech during the 4th quarter worth about $1,619,000. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Tetra Tech Price Performance

Shares of TTEK opened at $36.05 on Friday. The business’s 50-day moving average is $34.16 and its two-hundred day moving average is $34.27. The company has a market capitalization of $9.50 billion, a P/E ratio of 52.40 and a beta of 0.95. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.10 and a current ratio of 1.10. Tetra Tech, Inc. has a fifty-two week low of $27.27 and a fifty-two week high of $51.20.

Tetra Tech (NASDAQ:TTEK) last posted its earnings results on Wednesday, May 7th. The industrial products company reported $0.33 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. Tetra Tech had a return on equity of 23.31% and a net margin of 3.44%. The firm had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same period last year, the firm earned $0.28 EPS. The company’s quarterly revenue was up 25.9% on a year-over-year basis. Research analysts predict that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd were given a dividend of $0.065 per share. The ex-dividend date of this dividend was Friday, May 23rd. This is a boost from Tetra Tech’s previous quarterly dividend of $0.06. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.72%. Tetra Tech’s dividend payout ratio (DPR) is 37.68%.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. KeyCorp increased their price target on Tetra Tech from $34.00 to $41.00 and gave the stock an “overweight” rating in a research report on Friday, May 9th. Maxim Group downgraded Tetra Tech from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. Finally, Robert W. Baird increased their price target on Tetra Tech from $31.00 to $33.00 and gave the stock a “neutral” rating in a research report on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $41.00.

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.