Tetra Tech, Inc. (TTEK) Position Raised by Formula Growth Ltd.
Formula Growth Ltd. lifted its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 15.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,000 shares of the industrial products company’s stock after buying an additional 5,000 shares during the period. Formula Growth Ltd. owned approximately 0.06% of Tetra Tech worth $1,693,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in Tetra Tech by 12,066.6% in the first quarter. BlackRock Inc. now owns 8,135,829 shares of the industrial products company’s stock valued at $332,349,000 after acquiring an additional 8,068,959 shares during the period. Vanguard Group Inc. lifted its holdings in Tetra Tech by 6.2% in the first quarter. Vanguard Group Inc. now owns 5,212,870 shares of the industrial products company’s stock valued at $212,946,000 after acquiring an additional 302,821 shares during the period. Elk Creek Partners LLC bought a new position in Tetra Tech in the first quarter valued at about $10,794,000. Premier Asset Management LLC bought a new position in Tetra Tech in the second quarter valued at about $7,249,000. Finally, Rice Hall James & Associates LLC lifted its holdings in Tetra Tech by 12.0% in the second quarter. Rice Hall James & Associates LLC now owns 1,256,181 shares of the industrial products company’s stock valued at $57,470,000 after acquiring an additional 134,770 shares during the period. 84.77% of the stock is currently owned by institutional investors.
A number of research firms have weighed in on TTEK. Roth Capital set a $52.00 target price on Tetra Tech and gave the company a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research raised Tetra Tech from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Tuesday, July 4th. Canaccord Genuity reissued a “buy” rating and issued a $52.00 target price on shares of Tetra Tech in a report on Wednesday, June 7th. Stifel Nicolaus reissued a “hold” rating and issued a $50.00 target price on shares of Tetra Tech in a report on Friday, July 7th. Finally, BidaskClub downgraded Tetra Tech from a “strong-buy” rating to a “buy” rating in a report on Wednesday, June 21st. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Tetra Tech presently has an average rating of “Hold” and a consensus target price of $49.50.
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Tetra Tech, Inc. (NASDAQ TTEK) opened at 44.15 on Friday. The stock has a 50 day moving average price of $42.29 and a 200 day moving average price of $43.60. Tetra Tech, Inc. has a 1-year low of $34.78 and a 1-year high of $48.35. The company has a market cap of $2.50 billion, a P/E ratio of 22.38 and a beta of 1.05.
Tetra Tech (NASDAQ:TTEK) last issued its earnings results on Wednesday, August 2nd. The industrial products company reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.54 by ($0.01). Tetra Tech had a return on equity of 13.65% and a net margin of 4.17%. The company had revenue of $498.47 million during the quarter, compared to analysts’ expectations of $535.18 million. During the same quarter in the previous year, the company earned $0.50 EPS. The firm’s quarterly revenue was up .0% compared to the same quarter last year. On average, equities research analysts anticipate that Tetra Tech, Inc. will post $2.11 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 1st. Stockholders of record on Thursday, August 17th were paid a $0.10 dividend. The ex-dividend date was Tuesday, August 15th. This represents a $0.40 dividend on an annualized basis and a dividend yield of 0.91%. Tetra Tech’s payout ratio is 20.30%.
Tetra Tech Company Profile
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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