Creative Planning boosted its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK – Free Report) by 2.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,387 shares of the industrial products company’s stock after purchasing an additional 288 shares during the quarter. Creative Planning’s holdings in Tetra Tech were worth $2,192,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the business. Bank Julius Baer & Co. Ltd Zurich lifted its position in shares of Tetra Tech by 98,060.6% during the 2nd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 5,398,832 shares of the industrial products company’s stock valued at $884,005,000 after buying an additional 5,393,332 shares in the last quarter. Norges Bank purchased a new position in Tetra Tech during the fourth quarter valued at $132,468,000. Sarasin & Partners LLP grew its position in shares of Tetra Tech by 269.9% in the second quarter. Sarasin & Partners LLP now owns 917,114 shares of the industrial products company’s stock valued at $150,168,000 after purchasing an additional 669,165 shares during the period. CI Private Wealth LLC purchased a new stake in shares of Tetra Tech during the fourth quarter worth about $72,092,000. Finally, FIL Ltd raised its position in shares of Tetra Tech by 54.1% during the 1st quarter. FIL Ltd now owns 876,726 shares of the industrial products company’s stock worth $128,800,000 after purchasing an additional 307,835 shares during the last quarter. 87.95% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several equities research analysts have commented on the company. William Blair initiated coverage on Tetra Tech in a research note on Wednesday, September 13th. They set an “outperform” rating for the company. StockNews.com started coverage on Tetra Tech in a research report on Thursday, October 5th. They set a “hold” rating for the company. Royal Bank of Canada initiated coverage on Tetra Tech in a report on Monday, August 28th. They issued an “outperform” rating and a $181.00 price objective on the stock. Robert W. Baird upped their target price on shares of Tetra Tech from $157.00 to $172.00 in a report on Thursday, August 10th. Finally, Maxim Group raised their price target on shares of Tetra Tech from $200.00 to $215.00 in a research note on Friday, August 11th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $192.00.
Tetra Tech Stock Up 1.8 %
Shares of NASDAQ:TTEK opened at $161.17 on Wednesday. Tetra Tech, Inc. has a 52-week low of $122.86 and a 52-week high of $173.27. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 0.62. The business has a fifty day moving average of $159.10 and a two-hundred day moving average of $154.34. The stock has a market cap of $8.54 billion, a P/E ratio of 28.61 and a beta of 0.99.
Tetra Tech (NASDAQ:TTEK – Get Free Report) last released its quarterly earnings data on Wednesday, August 9th. The industrial products company reported $1.29 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.11. Tetra Tech had a net margin of 7.27% and a return on equity of 20.41%. The firm had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $959.52 million. During the same period last year, the business earned $1.08 earnings per share. Tetra Tech’s revenue was up 67.9% compared to the same quarter last year. On average, research analysts expect that Tetra Tech, Inc. will post 5.25 earnings per share for the current year.
Tetra Tech Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 6th. Shareholders of record on Wednesday, August 23rd were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Tuesday, August 22nd. This represents a $1.04 annualized dividend and a yield of 0.65%. Tetra Tech’s dividend payout ratio (DPR) is 18.41%.
About Tetra Tech
Tetra Tech, Inc provides consulting and engineering services worldwide. 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.
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