Smithfield Trust Co. raised its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 70.1% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,280 shares of the industrial products company’s stock after buying an additional 940 shares during the period. Smithfield Trust Co.’s holdings in Tetra Tech were worth $156,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. LPL Financial LLC acquired a new stake in Tetra Tech in the 1st quarter valued at approximately $494,000. Fisher Asset Management LLC increased its position in shares of Tetra Tech by 23.7% during the 2nd quarter. Fisher Asset Management LLC now owns 7,315 shares of the industrial products company’s stock valued at $428,000 after purchasing an additional 1,400 shares during the period. Campbell & CO Investment Adviser LLC acquired a new position in shares of Tetra Tech during the 2nd quarter valued at $952,000. Amalgamated Bank increased its position in shares of Tetra Tech by 11.8% during the 2nd quarter. Amalgamated Bank now owns 8,992 shares of the industrial products company’s stock valued at $526,000 after purchasing an additional 951 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. increased its position in shares of Tetra Tech by 80.0% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 4,500 shares of the industrial products company’s stock valued at $124,000 after purchasing an additional 2,000 shares during the period. 84.85% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ TTEK opened at $68.79 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.01 and a current ratio of 2.01. The firm has a market capitalization of $3.81 billion, a P/E ratio of 25.97, a P/E/G ratio of 1.70 and a beta of 0.98. Tetra Tech, Inc. has a 52-week low of $44.65 and a 52-week high of $72.56.
Tetra Tech (NASDAQ:TTEK) last issued its earnings results on Wednesday, November 7th. The industrial products company reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.74 by $0.01. The business had revenue of $563.67 million for the quarter, compared to analysts’ expectations of $571.33 million. Tetra Tech had a return on equity of 15.91% and a net margin of 4.62%. The company’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.63 EPS. As a group, research analysts expect that Tetra Tech, Inc. will post 2.87 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 14th. Investors of record on Friday, November 30th will be issued a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date is Thursday, November 29th. Tetra Tech’s payout ratio is 18.18%.
Several equities analysts have recently issued reports on TTEK shares. Maxim Group set a $87.00 price target on Tetra Tech and gave the company a “buy” rating in a research report on Thursday. BidaskClub upgraded Tetra Tech from a “buy” rating to a “strong-buy” rating in a research report on Saturday, September 8th. Roth Capital lifted their price target on Tetra Tech from $59.00 to $73.00 and gave the company a “buy” rating in a research report on Monday, August 6th. Robert W. Baird lifted their price target on Tetra Tech from $63.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday. Finally, Canaccord Genuity reiterated a “buy” rating and set a $73.00 price target (up from $60.00) on shares of Tetra Tech in a research report on Thursday, August 2nd. Two equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $70.71.
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Tetra Tech Company Profile
Tetra Tech, Inc provides consulting and engineering services worldwide. It operates through two segments, Water, Environment and Infrastructure (WEI); and Resource Management and Energy (RME). The WEI segment offers early data collection and monitoring, data analysis and information technology, science and engineering applied research, engineering design, construction 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.
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