Truist Financial Corp raised its stake in Tetra Tech, Inc. (NASDAQ:TTEK – Get Rating) by 108.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,430 shares of the industrial products company’s stock after purchasing an additional 2,822 shares during the period. Truist Financial Corp’s holdings in Tetra Tech were worth $896,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in TTEK. AdvisorNet Financial Inc acquired a new stake in shares of Tetra Tech in the 1st quarter valued at about $35,000. CWM LLC acquired a new stake in shares of Tetra Tech in the fourth quarter valued at approximately $44,000. UMB Bank N A MO purchased a new position in shares of Tetra Tech during the fourth quarter worth approximately $60,000. USA Financial Portformulas Corp increased its holdings in shares of Tetra Tech by 3,553.8% in the 4th quarter. USA Financial Portformulas Corp now owns 475 shares of the industrial products company’s stock valued at $81,000 after acquiring an additional 462 shares during the period. Finally, National Bank of Canada FI purchased a new stake in Tetra Tech in the 4th quarter valued at $85,000. Institutional investors and hedge funds own 87.75% of the company’s stock.
Tetra Tech Trading Down 0.1 %
Shares of Tetra Tech stock opened at $144.88 on Friday. The firm has a market cap of $7.78 billion, a price-to-earnings ratio of 30.83 and a beta of 0.88. Tetra Tech, Inc. has a 52-week low of $118.55 and a 52-week high of $192.91. The company’s 50-day simple moving average is $132.72 and its 200-day simple moving average is $144.28. The company has a quick ratio of 1.26, a current ratio of 1.26 and a debt-to-equity ratio of 0.19.
Tetra Tech (NASDAQ:TTEK – Get Rating) last announced its quarterly earnings data on Wednesday, May 4th. The industrial products company reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.90 by $0.08. The company had revenue of $699.64 million for the quarter, compared to analyst estimates of $653.85 million. Tetra Tech had a return on equity of 18.53% and a net margin of 7.53%. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.83 EPS. As a group, equities research analysts anticipate that Tetra Tech, Inc. will post 4.37 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 27th. Shareholders of record on Friday, May 13th were issued a $0.23 dividend. The ex-dividend date was Thursday, May 12th. This represents a $0.92 dividend on an annualized basis and a yield of 0.64%. This is an increase from Tetra Tech’s previous quarterly dividend of $0.20. Tetra Tech’s dividend payout ratio (DPR) is 19.57%.
Wall Street Analysts Forecast Growth
TTEK has been the topic of a number of recent research reports. Boenning Scattergood restated a “neutral” rating on shares of Tetra Tech in a research note on Thursday, May 5th. Northcoast Research started coverage on Tetra Tech in a research note on Friday, July 15th. They set a “neutral” rating for the company. StockNews.com upgraded Tetra Tech from a “hold” rating to a “buy” rating in a research note on Wednesday, July 13th. Finally, Maxim Group cut their price target on Tetra Tech from $215.00 to $190.00 in a research note on Friday, May 6th.
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.
See Also
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Source: defenseworld.net
