Legacy Wealth Asset Management LLC Grows Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Legacy Wealth Asset Management LLC raised its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 8.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,314 shares of the industrial products company’s stock after purchasing an additional 512 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in Tetra Tech were worth $1,166,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Stifel Financial Corp grew its stake in Tetra Tech by 10.7% during the 3rd quarter. Stifel Financial Corp now owns 26,817 shares of the industrial products company’s stock valued at $4,077,000 after purchasing an additional 2,593 shares during the last quarter. Retirement Systems of Alabama increased its holdings in Tetra Tech by 0.3% in the 4th quarter. Retirement Systems of Alabama now owns 77,406 shares of the industrial products company’s stock worth $12,921,000 after buying an additional 205 shares during the period. WCM Investment Management LLC raised its position in Tetra Tech by 2.5% during the 4th quarter. WCM Investment Management LLC now owns 339,938 shares of the industrial products company’s stock worth $57,127,000 after buying an additional 8,394 shares during the last quarter. Jump Financial LLC lifted its stake in Tetra Tech by 743.1% during the 4th quarter. Jump Financial LLC now owns 22,232 shares of the industrial products company’s stock valued at $3,711,000 after acquiring an additional 19,595 shares during the period. Finally, Spire Wealth Management boosted its holdings in shares of Tetra Tech by 1,054.4% in the 4th quarter. Spire Wealth Management now owns 22,650 shares of the industrial products company’s stock valued at $3,706,000 after acquiring an additional 20,688 shares during the last quarter. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Tetra Tech Price Performance

TTEK traded up $3.53 during trading on Thursday, hitting $203.65. The company’s stock had a trading volume of 162,866 shares, compared to its average volume of 305,579. The firm has a market capitalization of $10.90 billion, a price-to-earnings ratio of 41.22 and a beta of 0.93. Tetra Tech, Inc. has a twelve month low of $143.35 and a twelve month high of $221.40. The business’s fifty day simple moving average is $208.96 and its 200 day simple moving average is $187.38. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.60.

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

Tetra Tech Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Monday, May 20th were paid a $0.29 dividend. 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 dividend on an annualized basis and a yield of 0.57%. Tetra Tech’s dividend payout ratio (DPR) is currently 23.48%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on TTEK. Robert W. Baird boosted their target price on shares of Tetra Tech from $200.00 to $223.00 and gave the company a “neutral” rating in a research report on Wednesday, May 15th. Northcoast Research upgraded Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 target price on the stock in a research note on Thursday, May 2nd. Maxim Group lifted their price target on Tetra Tech from $234.00 to $268.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. KeyCorp upped their price objective on Tetra Tech from $231.00 to $234.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. Finally, Royal Bank of Canada lifted their target price on shares of Tetra Tech from $203.00 to $233.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $236.60.

Insiders Place Their Bets

In other news, EVP Leslie L. Shoemaker sold 11,161 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $211.83, for a total value of $2,364,234.63. Following the transaction, the executive vice president now owns 74,887 shares in the company, valued at $15,863,313.21. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.61% of the stock is owned by company insiders.

About Tetra Tech

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.