Denali Advisors LLC Boosts Stock Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Denali Advisors LLC increased its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 97.1% in the 1st quarter, HoldingsChannel reports. The fund owned 406 shares of the industrial products company’s stock after acquiring an additional 200 shares during the period. Denali Advisors LLC’s holdings in Tetra Tech were worth $75,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of TTEK. Norges Bank purchased a new stake in Tetra Tech during the 4th quarter valued at about $96,655,000. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in shares of Tetra Tech in the 4th quarter valued at $82,209,000. International Assets Investment Management LLC increased its stake in shares of Tetra Tech by 16,621.9% in the fourth quarter. International Assets Investment Management LLC now owns 221,064 shares of the industrial products company’s stock worth $36,902,000 after acquiring an additional 219,742 shares during the period. Sarasin & Partners LLP raised its holdings in shares of Tetra Tech by 18.3% during the fourth quarter. Sarasin & Partners LLP now owns 1,221,928 shares of the industrial products company’s stock worth $203,976,000 after purchasing an additional 189,049 shares during the last quarter. Finally, Schroder Investment Management Group lifted its position in Tetra Tech by 320.6% during the fourth quarter. Schroder Investment Management Group now owns 164,503 shares of the industrial products company’s stock valued at $27,460,000 after purchasing an additional 125,390 shares during the period. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Tetra Tech Price Performance

Shares of TTEK traded up $3.53 during trading hours on Wednesday, hitting $203.65. 162,866 shares of the stock were exchanged, compared to its average volume of 278,441. The stock’s 50-day moving average price is $208.67 and its two-hundred day moving average price is $187.27. Tetra Tech, Inc. has a 12-month low of $143.35 and a 12-month high of $221.40. The company has a debt-to-equity ratio of 0.60, a quick ratio of 1.24 and a current ratio of 1.24. The company has a market cap of $10.90 billion, a price-to-earnings ratio of 40.24 and a beta of 0.94.

Tetra Tech (NASDAQ:TTEK) last released its earnings results on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share (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 analyst estimates of $1.03 billion. Tetra Tech had a net margin of 5.36% and a return on equity of 21.16%. The company’s revenue for the quarter was down 9.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.17 earnings per share. Research analysts expect that Tetra Tech, Inc. will post 6.2 earnings per share for the current year.

Tetra Tech Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were paid a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a yield of 0.57%. This is a positive change from Tetra Tech’s previous quarterly dividend of $0.26. The ex-dividend date was Friday, May 17th. Tetra Tech’s dividend payout ratio (DPR) is 23.48%.

Insider Transactions at Tetra Tech

In other news, EVP Leslie L. Shoemaker sold 11,161 shares of Tetra Tech stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $211.83, for a total transaction of $2,364,234.63. Following the transaction, the executive vice president now owns 74,887 shares in the company, valued at approximately $15,863,313.21. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.61% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on TTEK shares. KeyCorp lifted their price objective on Tetra Tech from $231.00 to $234.00 and gave the company an “overweight” rating in a research note on Thursday, May 23rd. Northcoast Research upgraded Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 price objective on the stock in a research report on Thursday, May 2nd. Robert W. Baird increased their price target on shares of Tetra Tech from $200.00 to $223.00 and gave the stock a “neutral” rating in a report on Wednesday, May 15th. Royal Bank of Canada lifted their price objective on shares of Tetra Tech from $203.00 to $233.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Finally, Maxim Group increased their target price on shares of Tetra Tech from $234.00 to $268.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tetra Tech presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.60.

About Tetra Tech

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.