Baird Financial Group Inc. Sells 5,714 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Baird Financial Group Inc. cut its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 16.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 29,215 shares of the industrial products company’s stock after selling 5,714 shares during the period. Baird Financial Group Inc.’s holdings in Tetra Tech were worth $1,164,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Balyasny Asset Management L.P. bought a new position in Tetra Tech in the fourth quarter worth approximately $3,231,000. Ameriprise Financial Inc. raised its position in Tetra Tech by 16.0% in the fourth quarter. Ameriprise Financial Inc. now owns 866,937 shares of the industrial products company’s stock worth $34,539,000 after acquiring an additional 119,804 shares during the period. Algert Global LLC increased its stake in shares of Tetra Tech by 23.9% in the fourth quarter. Algert Global LLC now owns 179,399 shares of the industrial products company’s stock worth $7,147,000 after purchasing an additional 34,614 shares in the last quarter. Aptus Capital Advisors LLC increased its stake in shares of Tetra Tech by 20.9% in the fourth quarter. Aptus Capital Advisors LLC now owns 261,695 shares of the industrial products company’s stock worth $10,426,000 after purchasing an additional 45,257 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV increased its stake in shares of Tetra Tech by 6.2% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 240,960 shares of the industrial products company’s stock worth $9,600,000 after purchasing an additional 14,112 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors.

Tetra Tech Stock Performance

TTEK opened at $35.04 on Wednesday. The stock has a market capitalization of $9.39 billion, a price-to-earnings ratio of 36.81 and a beta of 0.92. The company has a fifty day moving average of $30.32 and a 200 day moving average of $36.21. Tetra Tech, Inc. has a fifty-two week low of $27.27 and a fifty-two week high of $51.20. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29.

Tetra Tech (NASDAQ:TTEK) last posted its earnings results on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.02. The company had revenue of $1.10 billion during the quarter, compared to analysts’ expectations of $1.05 billion. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. Tetra Tech’s quarterly revenue was up 25.9% on a year-over-year basis. During the same period last year, the company posted $0.28 earnings per share. As a group, sell-side analysts forecast that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Increases Dividend

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

Analysts Set New Price Targets

TTEK has been the subject of a number of analyst reports. Maxim Group cut shares of Tetra Tech from a “strong-buy” rating to a “hold” rating in a research note on Friday, April 4th. Robert W. Baird increased their price objective on shares of Tetra Tech from $31.00 to $33.00 and gave the stock a “neutral” rating in a research note on Thursday, May 8th. Royal Bank of Canada set a $49.00 price objective on shares of Tetra Tech in a research note on Friday, January 31st. Finally, KeyCorp increased their price objective on shares of Tetra Tech from $34.00 to $41.00 and gave the stock an “overweight” rating in a research note on Friday, May 9th. 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, the company currently has an average rating of “Hold” and an average target price of $44.15.

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.