Asset Management One Co. Ltd. Sells 37,760 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Asset Management One Co. Ltd. trimmed its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 12.3% during the 1st quarter, Holdings Channel reports. The firm owned 270,236 shares of the industrial products company’s stock after selling 37,760 shares during the period. Asset Management One Co. Ltd.’s holdings in Tetra Tech were worth $7,900,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of TTEK. Sarasin & Partners LLP bought a new stake in Tetra Tech during the first quarter valued at about $144,799,000. Norges Bank bought a new stake in Tetra Tech during the 4th quarter valued at approximately $121,390,000. Jacobs Levy Equity Management Inc. raised its stake in Tetra Tech by 814.2% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,267,296 shares of the industrial products company’s stock valued at $90,329,000 after purchasing an additional 2,019,295 shares during the period. Bain Capital Public Equity Management II LLC raised its stake in Tetra Tech by 149.5% during the 4th quarter. Bain Capital Public Equity Management II LLC now owns 2,409,928 shares of the industrial products company’s stock valued at $96,012,000 after purchasing an additional 1,443,939 shares during the period. Finally, Capital International Investors bought a new stake in shares of Tetra Tech during the fourth quarter valued at approximately $43,895,000. 93.89% of the stock is owned by institutional investors.

Tetra Tech Stock Performance

NASDAQ:TTEK opened at $35.64 on Friday. The stock’s 50 day simple moving average is $34.27 and its two-hundred day simple moving average is $34.23. Tetra Tech, Inc. has a 1 year low of $27.27 and a 1 year high of $51.20. The company has a market cap of $9.39 billion, a price-to-earnings ratio of 51.80 and a beta of 0.95. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.10 and a quick ratio of 1.10.

Tetra Tech (NASDAQ:TTEK) last posted 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. Tetra Tech had a net margin of 3.44% and a return on equity of 23.31%. The firm had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the firm posted $0.28 EPS. The business’s quarterly revenue was up 25.9% on a year-over-year basis. As a group, equities analysts anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Increases Dividend

The business 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 was Friday, May 23rd. This represents a $0.26 annualized dividend and a dividend yield of 0.73%. This is an increase from Tetra Tech’s previous quarterly dividend of $0.06. Tetra Tech’s payout ratio is currently 37.68%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on TTEK shares. Maxim Group cut shares of Tetra Tech from a “strong-buy” rating to a “hold” rating in a research report on Friday, April 4th. KeyCorp lifted 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. Finally, Robert W. Baird lifted their target price on Tetra Tech from $31.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, May 8th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Tetra Tech currently has an average rating of “Hold” and an average price target of $41.00.

About Tetra Tech

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.