Royce & Associates LP Has $1,047,000 Stake in Tetra Tech, Inc. (TTEK)
Royce & Associates LP continued to hold its stake in Tetra Tech, Inc. (NASDAQ:TTEK) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,895 shares of the industrial products company’s stock at the end of the second quarter. Royce & Associates LP’s holdings in Tetra Tech were worth $1,047,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. acquired a new stake in shares of Tetra Tech during the first quarter worth $185,000. LS Investment Advisors LLC raised its holdings in shares of Tetra Tech by 117.6% during the first quarter. LS Investment Advisors LLC now owns 4,872 shares of the industrial products company’s stock worth $199,000 after acquiring an additional 2,633 shares during the period. Strs Ohio raised its holdings in shares of Tetra Tech by 45.2% during the second quarter. Strs Ohio now owns 4,500 shares of the industrial products company’s stock worth $205,000 after acquiring an additional 1,400 shares during the period. Tocqueville Asset Management L.P. acquired a new stake in shares of Tetra Tech during the second quarter worth $206,000. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Tetra Tech during the second quarter worth $210,000. 84.78% of the stock is currently owned by institutional investors.
A number of equities research analysts recently commented on the stock. Stifel Nicolaus restated a “hold” rating and set a $47.00 price objective on shares of Tetra Tech in a report on Thursday, September 7th. Robert W. Baird reiterated a “hold” rating and issued a $47.00 price target on shares of Tetra Tech in a research note on Tuesday, September 5th. Boenning Scattergood reiterated an “outperform” rating on shares of Tetra Tech in a research note on Tuesday, September 5th. Canaccord Genuity reiterated a “buy” rating and issued a $52.00 price target on shares of Tetra Tech in a research note on Friday, August 4th. Finally, BidaskClub lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a research note on Saturday, August 5th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $49.50.
Shares of Tetra Tech, Inc. (TTEK) opened at 42.95 on Friday. Tetra Tech, Inc. has a 52 week low of $34.78 and a 52 week high of $48.35. The firm has a market capitalization of $2.43 billion, a price-to-earnings ratio of 21.77 and a beta of 1.05. The firm has a 50-day moving average of $42.52 and a 200 day moving average of $43.53.
Tetra Tech (NASDAQ:TTEK) last announced its earnings results on Wednesday, August 2nd. The industrial products company reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.54 by ($0.01). Tetra Tech had a net margin of 4.17% and a return on equity of 13.65%. The company had revenue of $498.47 million for the quarter, compared to the consensus estimate of $535.18 million. During the same quarter in the previous year, the firm earned $0.50 earnings per share. The company’s revenue for the quarter was up .0% compared to the same quarter last year. On average, equities analysts predict that Tetra Tech, Inc. will post $2.11 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Shareholders of record on Thursday, August 17th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Tuesday, August 15th. This represents a $0.40 annualized dividend and a yield of 0.93%. Tetra Tech’s payout ratio is presently 20.30%.
About Tetra Tech
Tetra Tech, Inc is a provider of consulting, engineering, program management, construction management, and technical services. The Company’s segments include Water, Environment and Infrastructure (WEI), Resource Management and Energy (RME), and Remediation and Construction Management (RCM). The WEI segment provides consulting and engineering services.
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