Tetra Tech, Inc. (NASDAQ:TTEK) Shares Bought by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 4.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,393 shares of the industrial products company’s stock after purchasing an additional 98 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in Tetra Tech were worth $399,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TTEK. Private Advisor Group LLC acquired a new position in Tetra Tech during the 3rd quarter worth approximately $220,000. Victory Capital Management Inc. grew its holdings in Tetra Tech by 2.9% during the 3rd quarter. Victory Capital Management Inc. now owns 9,464 shares of the industrial products company’s stock valued at $1,439,000 after buying an additional 267 shares during the last quarter. Cornerstone Wealth Management LLC acquired a new stake in Tetra Tech during the 3rd quarter valued at $313,000. Arizona State Retirement System lifted its stake in shares of Tetra Tech by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 15,156 shares of the industrial products company’s stock worth $2,304,000 after purchasing an additional 206 shares during the period. Finally, Zions Bancorporation N.A. lifted its stake in shares of Tetra Tech by 38.2% during the 3rd quarter. Zions Bancorporation N.A. now owns 11,971 shares of the industrial products company’s stock worth $1,820,000 after purchasing an additional 3,310 shares during the period. Institutional investors and hedge funds own 93.89% of the company’s stock.

Tetra Tech Stock Up 0.8 %

NASDAQ:TTEK opened at $217.88 on Friday. The company has a market capitalization of $11.66 billion, a price-to-earnings ratio of 44.11 and a beta of 0.93. Tetra Tech, Inc. has a one year low of $132.29 and a one year high of $221.40. The stock has a 50-day simple moving average of $197.04 and a 200 day simple moving average of $178.17. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.24 and a current ratio of 1.24.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.13. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $1.03 billion. Tetra Tech had a return on equity of 21.16% and a net margin of 5.36%. The company’s revenue for the quarter was down 9.5% compared to the same quarter last year. During the same period last year, the firm earned $1.17 earnings per share. Sell-side analysts predict that Tetra Tech, Inc. will post 6.2 EPS for the current fiscal year.

Tetra Tech Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, May 31st. Shareholders of record on Monday, May 20th will be issued a $0.29 dividend. The ex-dividend date is Friday, May 17th. This represents a $1.16 dividend on an annualized basis and a yield of 0.53%. This is a boost from Tetra Tech’s previous quarterly dividend of $0.26. Tetra Tech’s dividend payout ratio (DPR) is currently 23.48%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on TTEK shares. Royal Bank of Canada increased their price target on Tetra Tech from $203.00 to $233.00 and gave the stock an “outperform” rating in a research note on Friday, May 3rd. Robert W. Baird increased their target price on Tetra Tech from $200.00 to $223.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 15th. StockNews.com raised Tetra Tech from a “hold” rating to a “buy” rating in a research report on Tuesday, May 14th. Northcoast Research raised Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 target price on the stock in a research report on Thursday, May 2nd. Finally, Maxim Group increased their price target on Tetra Tech from $234.00 to $268.00 and gave the company a “buy” rating in a report on Thursday, May 16th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $236.60.

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.