Tetra Tech, Inc. (NASDAQ:TTEK) Stake Cut by Laird Norton Wetherby Wealth Management LLC

Laird Norton Wetherby Wealth Management LLC reduced its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 7.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,910 shares of the industrial products company’s stock after selling 495 shares during the period. Laird Norton Wetherby Wealth Management LLC’s holdings in Tetra Tech were worth $235,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Oregon Public Employees Retirement Fund raised its holdings in shares of Tetra Tech by 0.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 54,525 shares of the industrial products company’s stock worth $2,172,000 after acquiring an additional 400 shares in the last quarter. CIBC Asset Management Inc raised its holdings in shares of Tetra Tech by 5.6% during the fourth quarter. CIBC Asset Management Inc now owns 8,318 shares of the industrial products company’s stock worth $331,000 after acquiring an additional 438 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Tetra Tech by 13.0% during the fourth quarter. Farther Finance Advisors LLC now owns 4,009 shares of the industrial products company’s stock worth $160,000 after acquiring an additional 461 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in Tetra Tech by 98.0% during the fourth quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company’s stock valued at $40,000 after buying an additional 495 shares in the last quarter. Finally, Osprey Private Wealth LLC raised its holdings in Tetra Tech by 0.3% during the fourth quarter. Osprey Private Wealth LLC now owns 170,850 shares of the industrial products company’s stock valued at $6,807,000 after buying an additional 525 shares in the last quarter. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TTEK has been the topic of several recent research reports. Royal Bank of Canada set a $49.00 target price on Tetra Tech in a report on Friday, January 31st. Maxim Group lowered Tetra Tech from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. KeyCorp raised their target price on Tetra Tech from $34.00 to $41.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Finally, Robert W. Baird raised their target price on Tetra Tech from $31.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Tetra Tech presently has a consensus rating of “Hold” and a consensus target price of $41.00.

Tetra Tech Trading Up 0.5%

Tetra Tech stock opened at $35.37 on Friday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29. The business’s 50-day simple moving average is $30.64 and its 200-day simple moving average is $35.90. The firm has a market capitalization of $9.32 billion, a PE ratio of 37.15 and a beta of 0.92. Tetra Tech, Inc. has a 52 week low of $27.27 and a 52 week high of $51.20.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.33 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.02. The business had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.05 billion. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. The firm’s revenue for the quarter was up 25.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.28 earnings per share. Equities research analysts forecast that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd will be paid a $0.065 dividend. The ex-dividend date of this dividend is Friday, May 23rd. This is a positive change from Tetra Tech’s previous quarterly dividend of $0.06. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.74%. Tetra Tech’s payout ratio is presently 37.68%.

Tetra Tech 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.