Tidal Investments LLC Acquires 421,209 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Tidal Investments LLC grew its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 3,593.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 432,931 shares of the industrial products company’s stock after acquiring an additional 421,209 shares during the period. Tidal Investments LLC’s holdings in Tetra Tech were worth $17,248,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in TTEK. R Squared Ltd bought a new position in Tetra Tech in the fourth quarter worth approximately $39,000. Asset Planning Inc bought a new stake in shares of Tetra Tech during the 4th quarter valued at $40,000. Jones Financial Companies Lllp raised its position in shares of Tetra Tech by 98.0% during the 4th quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company’s stock valued at $40,000 after purchasing an additional 495 shares during the period. Caption Management LLC bought a new stake in shares of Tetra Tech during the 4th quarter valued at $40,000. Finally, Blue Trust Inc. raised its position in shares of Tetra Tech by 235.8% during the 4th quarter. Blue Trust Inc. now owns 1,444 shares of the industrial products company’s stock valued at $58,000 after purchasing an additional 1,014 shares during the period. 93.89% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on TTEK shares. Royal Bank of Canada set a $49.00 price objective on shares of Tetra Tech in a research report on Friday, January 31st. Maxim Group cut shares of Tetra Tech from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Robert W. Baird lifted their price target on shares of Tetra Tech from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Finally, KeyCorp lifted their price target on shares of Tetra Tech from $34.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $41.00.

Tetra Tech Trading Up 0.5%

Shares of TTEK opened at $35.37 on Monday. Tetra Tech, Inc. has a 1-year low of $27.27 and a 1-year high of $51.20. The company has a 50-day moving average of $30.64 and a 200 day moving average of $35.81. The firm has a market capitalization of $9.32 billion, a price-to-earnings ratio of 37.15 and a beta of 0.92. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.02. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. The company had revenue of $1.10 billion during the quarter, compared to analyst estimates of $1.05 billion. During the same quarter last year, the business posted $0.28 EPS. The firm’s revenue for the quarter was up 25.9% on a year-over-year basis. On average, research analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Investors of record on Friday, May 23rd will be issued 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 is Friday, May 23rd. This represents a $0.26 dividend on an annualized basis and a yield of 0.74%. Tetra Tech’s dividend payout ratio (DPR) is presently 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.