Zurich Insurance Group Ltd FI Makes New Investment in Tetra Tech, Inc. (NASDAQ:TTEK)

Zurich Insurance Group Ltd FI acquired a new stake in Tetra Tech, Inc. (NASDAQ:TTEK) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 28,900 shares of the industrial products company’s stock, valued at approximately $1,151,000.

A number of other hedge funds have also modified their holdings of TTEK. R Squared Ltd acquired a new stake in Tetra Tech in the 4th quarter valued at $39,000. Asset Planning Inc acquired a new stake in shares of Tetra Tech in the 4th quarter valued at $40,000. Jones Financial Companies Lllp grew its holdings in shares of Tetra Tech by 98.0% in the 4th quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company’s stock worth $40,000 after purchasing an additional 495 shares during the last quarter. Caption Management LLC acquired a new stake in shares of Tetra Tech during the 4th quarter worth about $40,000. Finally, Blue Trust Inc. increased its position in shares of Tetra Tech by 235.8% during the 4th quarter. Blue Trust Inc. now owns 1,444 shares of the industrial products company’s stock worth $58,000 after purchasing an additional 1,014 shares in the last quarter. 93.89% of the stock is owned by institutional investors and hedge funds.

Tetra Tech Trading Up 0.5%

TTEK opened at $35.45 on Wednesday. Tetra Tech, Inc. has a 1-year low of $27.27 and a 1-year high of $51.20. The stock has a market capitalization of $9.34 billion, a PE ratio of 37.24 and a beta of 0.92. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 0.53. The firm has a 50-day moving average price of $30.90 and a two-hundred day moving average price of $35.72.

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

Tetra Tech Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd will be paid a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a dividend yield of 0.73%. 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. Tetra Tech’s dividend payout ratio is 37.68%.

Analysts Set New Price Targets

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

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.