Tetra Tech, Inc. (NASDAQ:TTEK) Shares Bought by State of Michigan Retirement System

State of Michigan Retirement System grew its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 2.3% in the 1st quarter, HoldingsChannel.com reports. The fund owned 13,108 shares of the industrial products company’s stock after purchasing an additional 300 shares during the quarter. State of Michigan Retirement System’s holdings in Tetra Tech were worth $2,421,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Retirement Systems of Alabama boosted its holdings in shares of Tetra Tech by 0.3% during the fourth quarter. Retirement Systems of Alabama now owns 77,406 shares of the industrial products company’s stock valued at $12,921,000 after acquiring an additional 205 shares during the period. WCM Investment Management LLC lifted its holdings in Tetra Tech by 2.5% in the fourth quarter. WCM Investment Management LLC now owns 339,938 shares of the industrial products company’s stock worth $57,127,000 after purchasing an additional 8,394 shares during the period. Jump Financial LLC lifted its holdings in Tetra Tech by 743.1% in the fourth quarter. Jump Financial LLC now owns 22,232 shares of the industrial products company’s stock worth $3,711,000 after purchasing an additional 19,595 shares during the period. Spire Wealth Management lifted its holdings in Tetra Tech by 1,054.4% in the fourth quarter. Spire Wealth Management now owns 22,650 shares of the industrial products company’s stock worth $3,706,000 after purchasing an additional 20,688 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its holdings in Tetra Tech by 95.7% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 17,977 shares of the industrial products company’s stock worth $2,733,000 after purchasing an additional 8,791 shares during the period. Institutional investors and hedge funds own 93.89% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on TTEK shares. Royal Bank of Canada upped their price objective on shares of Tetra Tech from $203.00 to $233.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Robert W. Baird upped their price objective on shares of Tetra Tech from $200.00 to $223.00 and gave the stock a “neutral” rating in a report on Wednesday, May 15th. KeyCorp upped their price objective on shares of Tetra Tech from $231.00 to $234.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. StockNews.com downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Wednesday, June 19th. Finally, Northcoast Research raised shares of Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 price target for the company in a report on Thursday, May 2nd. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $236.60.

Insiders Place Their Bets

In other Tetra Tech news, EVP Leslie L. Shoemaker sold 11,161 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $211.83, for a total transaction of $2,364,234.63. Following the sale, the executive vice president now owns 74,887 shares in the company, valued at approximately $15,863,313.21. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.61% of the company’s stock.

Tetra Tech Price Performance

Shares of NASDAQ TTEK opened at $203.65 on Thursday. Tetra Tech, Inc. has a twelve month low of $143.35 and a twelve month high of $221.40. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $10.90 billion, a price-to-earnings ratio of 41.22 and a beta of 0.93. The firm has a 50-day moving average of $208.96 and a two-hundred day moving average of $187.38.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.29 by $0.13. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. Tetra Tech had a return on equity of 21.16% and a net margin of 5.36%. The business’s revenue for the quarter was down 9.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.17 EPS. As a group, analysts expect that Tetra Tech, Inc. will post 6.2 earnings per share for the current fiscal year.

Tetra Tech Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend was Friday, May 17th. This is an increase from Tetra Tech’s previous quarterly dividend of $0.26. Tetra Tech’s payout ratio is presently 23.48%.

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.