PNC Financial Services Group Inc. grew its holdings in Tetra Tech, Inc. (NASDAQ:TTEK – Get Rating) by 4.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 4,476 shares of the industrial products company’s stock after buying an additional 197 shares during the period. PNC Financial Services Group Inc.’s holdings in Tetra Tech were worth $650,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Massmutual Trust Co. FSB ADV raised its holdings in Tetra Tech by 1,464.3% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 219 shares of the industrial products company’s stock worth $32,000 after purchasing an additional 205 shares in the last quarter. Quantbot Technologies LP purchased a new position in Tetra Tech during the second quarter worth about $39,000. Accurate Wealth Management LLC purchased a new position in Tetra Tech during the fourth quarter worth about $41,000. Covestor Ltd grew its position in Tetra Tech by 90.8% during the first quarter. Covestor Ltd now owns 248 shares of the industrial products company’s stock worth $41,000 after buying an additional 118 shares during the period. Finally, Quadrant Capital Group LLC grew its position in Tetra Tech by 184.5% during the third quarter. Quadrant Capital Group LLC now owns 404 shares of the industrial products company’s stock worth $52,000 after buying an additional 262 shares during the period. 85.28% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several brokerages have weighed in on TTEK. Robert W. Baird upped their target price on shares of Tetra Tech from $164.00 to $170.00 in a research report on Thursday, May 11th. StockNews.com lowered shares of Tetra Tech from a “buy” rating to a “hold” rating in a research report on Tuesday, May 23rd. Finally, 1-800-FLOWERS.COM restated a “maintains” rating on shares of Tetra Tech in a research report on Thursday, May 11th.
Tetra Tech Stock Up 5.0 %
Tetra Tech (NASDAQ:TTEK – Get Rating) last released its quarterly earnings results on Wednesday, May 10th. The industrial products company reported $1.17 EPS for the quarter, beating the consensus estimate of $0.96 by $0.21. The business had revenue of $1.16 billion for the quarter, compared to analyst estimates of $810.00 million. Tetra Tech had a net margin of 7.83% and a return on equity of 20.51%. During the same period in the prior year, the business earned $0.98 earnings per share. Equities analysts expect that Tetra Tech, Inc. will post 5.12 earnings per share for the current fiscal year.
Tetra Tech Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 6th. Stockholders of record on Wednesday, May 24th will be given a $0.26 dividend. The ex-dividend date is Tuesday, May 23rd. This is a positive change from Tetra Tech’s previous quarterly dividend of $0.23. This represents a $1.04 annualized dividend and a dividend yield of 0.68%. Tetra Tech’s dividend payout ratio is currently 18.51%.
About Tetra Tech
Tetra Tech, Inc engages in the provision of consulting and engineering services. It operates through the following segments: Government Services Group (GSG), Commercial and International Services Group (CIG), and Remediation and Construction Management (RCM). The GSG segment offers consulting and engineering services primarily to United States government clients such as federal, state and local, and development agencies worldwide.
Featured Stories
- Get a free copy of the StockNews.com research report on Tetra Tech (TTEK)
- Trading Channel Breakout in Lululemon Brought by Earnings
- What Should Investors Make of These 3 Dividend Cuts?
- Constellation Brands Taps into Growth: Analysts Bullish on Stock
- CrowdStrike: Another Tech Stock to Buy on the Dip
- Salesforce: Time to Snap it Up as the Market Buys the Dip?
Want to see what other hedge funds are holding TTEK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tetra Tech, Inc. (NASDAQ:TTEK – Get Rating).
Receive News & Ratings for Tetra Tech Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Tetra Tech and related companies with MarketBeat.com's FREE daily email newsletter.
