Tetra Tech, Inc. (NASDAQ:TTEK – Get Free Report) announced a quarterly dividend on Wednesday, November 15th, Zacks reports. Stockholders of record on Thursday, November 30th will be given a dividend of 0.26 per share by the industrial products company on Wednesday, December 13th. This represents a $1.04 annualized dividend and a dividend yield of 0.64%. The ex-dividend date of this dividend is Wednesday, November 29th.
Tetra Tech has raised its dividend payment by an average of 16.0% annually over the last three years and has raised its dividend annually for the last 9 consecutive years. Tetra Tech has a payout ratio of 18.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect Tetra Tech to earn $7.00 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 14.9%.
Tetra Tech Stock Performance
Shares of TTEK opened at $163.73 on Friday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 0.62. The firm’s fifty day simple moving average is $155.31 and its two-hundred day simple moving average is $156.78. Tetra Tech has a 12 month low of $131.19 and a 12 month high of $173.27. The stock has a market capitalization of $8.67 billion, a P/E ratio of 32.10 and a beta of 1.00.
Institutional Investors Weigh In On Tetra Tech
Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in Tetra Tech by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 5,303,607 shares of the industrial products company’s stock worth $874,777,000 after purchasing an additional 61,906 shares in the last quarter. State Street Corp grew its holdings in Tetra Tech by 1.9% during the first quarter. State Street Corp now owns 1,707,196 shares of the industrial products company’s stock worth $281,585,000 after buying an additional 31,942 shares in the last quarter. Invesco Ltd. lifted its stake in Tetra Tech by 7.5% during the 1st quarter. Invesco Ltd. now owns 917,617 shares of the industrial products company’s stock valued at $151,353,000 after acquiring an additional 64,168 shares in the last quarter. Norges Bank purchased a new position in Tetra Tech during the 4th quarter worth $132,468,000. Finally, Macquarie Group Ltd. grew its stake in shares of Tetra Tech by 3.5% in the 2nd quarter. Macquarie Group Ltd. now owns 767,471 shares of the industrial products company’s stock worth $104,798,000 after acquiring an additional 26,144 shares in the last quarter. 87.95% of the stock is owned by institutional investors.
Analyst Ratings Changes
Several analysts have recently weighed in on the stock. Royal Bank of Canada assumed coverage on shares of Tetra Tech in a research note on Monday, August 28th. They issued an “outperform” rating and a $181.00 price objective for the company. Robert W. Baird lifted their price target on shares of Tetra Tech from $172.00 to $180.00 and gave the company a “neutral” rating in a research note on Thursday. StockNews.com assumed coverage on shares of Tetra Tech in a research report on Thursday, October 5th. They set a “hold” rating on the stock. William Blair initiated coverage on Tetra Tech in a research report on Wednesday, September 13th. They issued an “outperform” rating for the company. Finally, KeyCorp increased their price target on Tetra Tech from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, August 11th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $194.00.
About Tetra Tech
Tetra Tech, Inc provides consulting and engineering services worldwide. 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.
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