Private Advisor Group LLC Reduces Stock Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Private Advisor Group LLC decreased its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 7.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,332 shares of the industrial products company’s stock after selling 115 shares during the quarter. Private Advisor Group LLC’s holdings in Tetra Tech were worth $222,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Contravisory Investment Management Inc. purchased a new stake in shares of Tetra Tech during the 4th quarter worth approximately $26,000. SRS Capital Advisors Inc. increased its stake in Tetra Tech by 305.2% in the 4th quarter. SRS Capital Advisors Inc. now owns 235 shares of the industrial products company’s stock worth $39,000 after buying an additional 177 shares during the period. GAMMA Investing LLC bought a new stake in Tetra Tech during the 4th quarter valued at about $38,000. McGlone Suttner Wealth Management Inc. bought a new position in Tetra Tech in the fourth quarter worth approximately $89,000. Finally, Fifth Third Bancorp lifted its stake in Tetra Tech by 36.8% in the fourth quarter. Fifth Third Bancorp now owns 982 shares of the industrial products company’s stock worth $164,000 after acquiring an additional 264 shares during the period. Institutional investors own 93.89% of the company’s stock.

Analysts Set New Price Targets

TTEK has been the subject of a number of analyst reports. StockNews.com upgraded Tetra Tech from a “hold” rating to a “buy” rating in a report on Tuesday, May 14th. Robert W. Baird increased their price objective on shares of Tetra Tech from $200.00 to $223.00 and gave the company a “neutral” rating in a research report on Wednesday, May 15th. Maxim Group lifted their price target on Tetra Tech from $234.00 to $268.00 and gave the stock a “buy” rating in a research report on Thursday, May 16th. Royal Bank of Canada lifted their target price on Tetra Tech from $203.00 to $233.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Finally, KeyCorp increased their price target on shares of Tetra Tech from $231.00 to $234.00 and gave the stock an “overweight” rating in a report on Thursday. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $236.60.

Tetra Tech Stock Performance

Shares of TTEK stock opened at $217.88 on Friday. Tetra Tech, Inc. has a 12-month low of $132.29 and a 12-month high of $221.40. The company has a market capitalization of $11.66 billion, a P/E ratio of 44.11 and a beta of 0.93. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.60. The business’s 50 day moving average is $197.04 and its two-hundred day moving average is $178.17.

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

Tetra Tech Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 31st. Investors of record on Monday, May 20th will be given a dividend of $0.29 per share. The ex-dividend date is Friday, May 17th. This is a positive change from Tetra Tech’s previous quarterly dividend of $0.26. This represents a $1.16 dividend on an annualized basis and a yield of 0.53%. Tetra Tech’s payout ratio is presently 23.48%.

Tetra Tech Company 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.