Tetra Tech, Inc. Declares Quarterly Dividend of $0.06 (NASDAQ:TTEK)

Tetra Tech, Inc. (NASDAQ:TTEK) declared a quarterly dividend on Friday, November 15th,Wall Street Journal reports. Shareholders of record on Wednesday, November 27th will be paid a dividend of 0.058 per share by the industrial products company on Friday, December 13th. This represents a $0.23 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend is Wednesday, November 27th.

Tetra Tech has raised its dividend payment by an average of 15.2% annually over the last three years. Tetra Tech has a payout ratio of 15.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Tetra Tech to earn $1.65 per share next year, which means the company should continue to be able to cover its $0.23 annual dividend with an expected future payout ratio of 13.9%.

Tetra Tech Stock Up 0.7 %

Shares of NASDAQ:TTEK traded up $0.29 on Friday, hitting $41.25. 3,662,535 shares of the company’s stock were exchanged, compared to its average volume of 1,454,707. Tetra Tech has a 1-year low of $30.92 and a 1-year high of $51.20. The company has a market capitalization of $11.04 billion, a PE ratio of 32.87 and a beta of 0.94. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.21 and a current ratio of 1.21. The firm’s 50-day moving average is $47.82 and its 200 day moving average is $44.55.

Insider Activity at Tetra Tech

In other news, EVP Leslie L. Shoemaker sold 78,420 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total value of $3,615,946.20. Following the completion of the transaction, the executive vice president now directly owns 296,015 shares in the company, valued at approximately $13,649,251.65. This represents a 20.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Steven M. Burdick sold 36,830 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $46.57, for a total value of $1,715,173.10. Following the sale, the chief financial officer now owns 112,620 shares of the company’s stock, valued at $5,244,713.40. This represents a 24.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 121,750 shares of company stock valued at $5,633,239. 0.61% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Robert W. Baird increased their price objective on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a report on Thursday. KeyCorp lowered their price objective on shares of Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a research report on Friday. StockNews.com raised shares of Tetra Tech from a “hold” rating to a “buy” rating in a report on Tuesday, October 15th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $52.00 price target on shares of Tetra Tech in a report on Friday. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $49.32.

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.