Lazard Asset Management LLC Has $1.03 Million Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Lazard Asset Management LLC decreased its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 10.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,898 shares of the industrial products company’s stock after selling 3,002 shares during the quarter. Lazard Asset Management LLC’s holdings in Tetra Tech were worth $1,031,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of TTEK. Merit Financial Group LLC bought a new stake in shares of Tetra Tech in the fourth quarter worth $361,000. HB Wealth Management LLC bought a new stake in shares of Tetra Tech in the fourth quarter worth $299,000. Crossmark Global Holdings Inc. grew its stake in shares of Tetra Tech by 353.1% in the fourth quarter. Crossmark Global Holdings Inc. now owns 94,429 shares of the industrial products company’s stock worth $3,762,000 after purchasing an additional 73,589 shares during the last quarter. Perpetual Ltd grew its stake in shares of Tetra Tech by 9.6% in the fourth quarter. Perpetual Ltd now owns 215,042 shares of the industrial products company’s stock worth $8,567,000 after purchasing an additional 18,842 shares during the last quarter. Finally, Simon Quick Advisors LLC bought a new stake in shares of Tetra Tech in the fourth quarter worth $200,000. Institutional investors own 93.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on TTEK shares. KeyCorp boosted their price objective 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. Royal Bank of Canada set a $49.00 price target on shares of Tetra Tech in a research report on Friday, January 31st. 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 report on Thursday, May 8th. Finally, Maxim Group downgraded Tetra Tech from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $41.00.

Tetra Tech Stock Performance

Shares of Tetra Tech stock opened at $35.27 on Tuesday. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53. The business has a 50-day moving average price of $30.77 and a two-hundred day moving average price of $35.72. 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 $9.29 billion, a P/E ratio of 37.05 and a beta of 0.92.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly 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 return on equity of 22.58% and a net margin of 4.81%. The firm had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period last year, the business posted $0.28 EPS. The business’s revenue was up 25.9% compared to the same quarter last year. As a group, analysts anticipate 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. Stockholders of record on Friday, May 23rd will be given a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.74%. The ex-dividend date is Friday, May 23rd. This is a boost from Tetra Tech’s previous quarterly dividend of $0.06. Tetra Tech’s dividend payout ratio is 37.68%.

Tetra Tech 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.