Oppenheimer & Co. Inc. Acquires 369 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Oppenheimer & Co. Inc. raised its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 4.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,547 shares of the industrial products company’s stock after purchasing an additional 369 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Tetra Tech were worth $1,579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Sarasin & Partners LLP grew its stake in Tetra Tech by 2.6% in the 1st quarter. Sarasin & Partners LLP now owns 1,253,981 shares of the industrial products company’s stock valued at $231,623,000 after purchasing an additional 32,053 shares during the period. Norges Bank purchased a new stake in Tetra Tech in the 4th quarter worth about $96,655,000. Vontobel Holding Ltd. increased its holdings in Tetra Tech by 2.8% in the 4th quarter. Vontobel Holding Ltd. now owns 533,587 shares of the industrial products company’s stock worth $89,072,000 after acquiring an additional 14,334 shares during the last quarter. First Trust Advisors LP increased its holdings in Tetra Tech by 8.8% in the 4th quarter. First Trust Advisors LP now owns 515,711 shares of the industrial products company’s stock worth $86,088,000 after acquiring an additional 41,860 shares during the last quarter. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new stake in Tetra Tech in the 4th quarter worth about $82,209,000. Institutional investors own 93.89% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. KeyCorp lifted their price objective on Tetra Tech from $231.00 to $234.00 and gave the stock an “overweight” rating in a report on Thursday, May 23rd. Maxim Group lifted their price objective on Tetra Tech from $234.00 to $268.00 and gave the stock a “buy” rating in a report on Thursday, May 16th. StockNews.com raised Tetra Tech from a “hold” rating to a “buy” rating in a report on Thursday. Royal Bank of Canada restated an “outperform” rating and issued a $233.00 target price on shares of Tetra Tech in a research note on Tuesday, July 9th. Finally, Northcoast Research upgraded Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 target price for the company in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $236.60.

Tetra Tech Stock Performance

NASDAQ:TTEK opened at $203.51 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.24 and a quick ratio of 1.24. The business has a 50 day moving average of $209.71 and a 200 day moving average of $189.32. The company has a market capitalization of $10.89 billion, a price-to-earnings ratio of 41.20 and a beta of 0.94. Tetra Tech, Inc. has a 1-year low of $143.35 and a 1-year high of $221.40.

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

Tetra Tech Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 20th were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Friday, May 17th. This is a positive change from Tetra Tech’s previous quarterly dividend of $0.26. This represents a $1.16 annualized dividend and a dividend yield of 0.57%. Tetra Tech’s payout ratio is currently 23.48%.

Insiders Place Their Bets

In other news, EVP Leslie L. Shoemaker sold 11,161 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now directly owns 74,887 shares of the company’s stock, valued at $15,863,313.21. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.61% of the company’s stock.

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.