GAMMA Investing LLC Raises Stock Position in Tetra Tech, Inc. (NASDAQ:TTEK)

GAMMA Investing LLC lifted its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 2,784.2% during the 1st quarter, Holdings Channel reports. The firm owned 86,814 shares of the industrial products company’s stock after buying an additional 83,804 shares during the period. GAMMA Investing LLC’s holdings in Tetra Tech were worth $2,539,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Norges Bank acquired a new stake in Tetra Tech during the 4th quarter worth approximately $121,390,000. Jacobs Levy Equity Management Inc. increased its position in shares of Tetra Tech by 814.2% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 2,267,296 shares of the industrial products company’s stock worth $90,329,000 after acquiring an additional 2,019,295 shares during the period. Bain Capital Public Equity Management II LLC raised its stake in shares of Tetra Tech by 149.5% in the fourth quarter. Bain Capital Public Equity Management II LLC now owns 2,409,928 shares of the industrial products company’s stock valued at $96,012,000 after acquiring an additional 1,443,939 shares in the last quarter. Capital International Investors purchased a new position in Tetra Tech in the fourth quarter valued at $43,895,000. Finally, King Luther Capital Management Corp grew its stake in Tetra Tech by 324.0% during the 4th quarter. King Luther Capital Management Corp now owns 1,278,295 shares of the industrial products company’s stock worth $50,927,000 after purchasing an additional 976,810 shares in the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on TTEK shares. Robert W. Baird increased their price target on Tetra Tech from $31.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, May 8th. Maxim Group lowered shares of Tetra Tech from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Finally, KeyCorp lifted their price target 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. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, Tetra Tech presently has a consensus rating of “Hold” and an average price target of $41.00.

Tetra Tech Stock Performance

NASDAQ:TTEK opened at $36.25 on Friday. Tetra Tech, Inc. has a 12 month low of $27.27 and a 12 month high of $51.20. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a market capitalization of $9.55 billion, a PE ratio of 38.08 and a beta of 0.95. The business’s fifty day moving average price is $32.93 and its 200 day moving average price is $34.71.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.33 EPS for the quarter, beating 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 business had revenue of $1.10 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter in the prior year, the business posted $0.28 EPS. The business’s revenue for the quarter was up 25.9% on a year-over-year basis. On average, sell-side analysts anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, June 5th. Shareholders of record on Friday, May 23rd were paid a $0.065 dividend. This is a positive change from Tetra Tech’s previous quarterly dividend of $0.06. This represents a $0.26 annualized dividend and a yield of 0.72%. The ex-dividend date was Friday, May 23rd. Tetra Tech’s dividend payout ratio is currently 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.