Tetra Tech (NASDAQ:TTEK – Get Free Report) released its quarterly earnings data on Wednesday. The industrial products company reported $1.78 EPS for the quarter, topping the consensus estimate of $1.44 by $0.34, Briefing.com reports. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.01 billion. Tetra Tech had a return on equity of 21.73% and a net margin of 6.05%. The company’s quarterly revenue was up 43.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.26 earnings per share.
Tetra Tech Stock Up 3.5 %
Shares of Tetra Tech stock opened at $163.73 on Friday. Tetra Tech has a 1 year low of $131.19 and a 1 year high of $173.27. The company has a 50-day moving average of $155.31 and a 200 day moving average of $156.78. The firm has a market cap of $8.67 billion, a price-to-earnings ratio of 32.10 and a beta of 1.00. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.17 and a quick ratio of 1.17.
Tetra Tech Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Thursday, November 30th will be paid a $0.26 dividend. The ex-dividend date is Wednesday, November 29th. This represents a $1.04 annualized dividend and a yield of 0.64%. Tetra Tech’s payout ratio is 20.39%.
Wall Street Analysts Forecast Growth
Institutional Trading of Tetra Tech
A number of hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new position in Tetra Tech during the 4th quarter valued at approximately $132,468,000. CI Private Wealth LLC bought a new position in shares of Tetra Tech during the fourth quarter valued at $72,092,000. Morgan Stanley increased its holdings in shares of Tetra Tech by 67.7% during the fourth quarter. Morgan Stanley now owns 602,765 shares of the industrial products company’s stock valued at $87,516,000 after acquiring an additional 243,312 shares in the last quarter. Rockefeller Capital Management L.P. raised its position in shares of Tetra Tech by 489.8% in the 1st quarter. Rockefeller Capital Management L.P. now owns 268,091 shares of the industrial products company’s stock worth $39,384,000 after purchasing an additional 222,634 shares during the last quarter. Finally, Royal Bank of Canada raised its holdings in Tetra Tech by 448.7% in the third quarter. Royal Bank of Canada now owns 180,114 shares of the industrial products company’s stock worth $27,382,000 after buying an additional 147,288 shares during the last quarter. 87.95% of the stock is owned by institutional investors.
Tetra Tech Company Profile
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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