Jennison Associates LLC purchased a new stake in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 568,589 shares of the industrial products company's stock, valued at approximately $22,653,000. Jennison Associates LLC owned approximately 0.21% of Tetra Tech at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the company. AQR Capital Management LLC increased its holdings in Tetra Tech by 14.1% during the second quarter. AQR Capital Management LLC now owns 4,056 shares of the industrial products company's stock worth $829,000 after buying an additional 502 shares during the last quarter. Cetera Investment Advisers boosted its stake in shares of Tetra Tech by 17.8% during the second quarter. Cetera Investment Advisers now owns 10,137 shares of the industrial products company's stock valued at $2,073,000 after purchasing an additional 1,532 shares in the last quarter. Sanctuary Advisors LLC bought a new stake in shares of Tetra Tech in the 2nd quarter valued at about $995,000. SG Americas Securities LLC grew its holdings in Tetra Tech by 14.5% during the 3rd quarter. SG Americas Securities LLC now owns 8,886 shares of the industrial products company's stock worth $419,000 after acquiring an additional 1,127 shares during the period. Finally, Park Avenue Securities LLC lifted its position in shares of Tetra Tech by 270.0% during the 3rd quarter. Park Avenue Securities LLC now owns 9,032 shares of the industrial products company's stock valued at $426,000 after acquiring an additional 6,591 shares during the period. Institutional investors own 93.89% of the company's stock.
Tetra Tech Stock Performance
Shares of NASDAQ:TTEK traded down $0.31 during midday trading on Thursday, hitting $33.78. The company's stock had a trading volume of 2,716,864 shares, compared to its average volume of 3,636,544. Tetra Tech, Inc. has a fifty-two week low of $31.09 and a fifty-two week high of $51.20. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.25 and a current ratio of 1.29. The stock has a market capitalization of $9.05 billion, a price-to-earnings ratio of 35.48 and a beta of 0.89. The stock's 50 day simple moving average is $40.32 and its 200 day simple moving average is $44.07.
Tetra Tech (NASDAQ:TTEK - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.34 by $0.01. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. As a group, research analysts anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.
Tetra Tech Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be issued a dividend of $0.058 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $0.23 dividend on an annualized basis and a yield of 0.69%. Tetra Tech's dividend payout ratio (DPR) is currently 24.21%.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on TTEK shares. StockNews.com downgraded Tetra Tech from a "buy" rating to a "hold" rating in a research note on Friday, November 15th. Royal Bank of Canada restated an "outperform" rating and issued a $52.00 price objective on shares of Tetra Tech in a research report on Friday, November 15th. Robert W. Baird raised their price objective on shares of Tetra Tech from $46.00 to $47.00 and gave the stock a "neutral" rating in a report on Thursday, November 14th. KeyCorp dropped their target price on Tetra Tech from $49.00 to $45.00 and set an "overweight" rating on the stock in a research report on Friday, January 31st. Finally, Maxim Group downgraded shares of Tetra Tech from a "buy" rating to a "hold" rating in a research report on Thursday. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Tetra Tech has an average rating of "Moderate Buy" and a consensus price target of $48.52.
View Our Latest Stock Analysis on Tetra Tech
Tetra Tech Company Profile
(
Free Report)
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.
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