Graham Capital Management L.P. Raises Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)

Graham Capital Management L.P. lifted its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 126.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,167 shares of the industrial products company’s stock after buying an additional 11,244 shares during the period. Graham Capital Management L.P.’s holdings in Tetra Tech were worth $803,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. New England Research & Management Inc. purchased a new position in Tetra Tech in the 4th quarter valued at approximately $596,000. Nicola Wealth Management LTD. increased its stake in Tetra Tech by 36.8% in the 4th quarter. Nicola Wealth Management LTD. now owns 65,000 shares of the industrial products company’s stock valued at $2,590,000 after purchasing an additional 17,500 shares in the last quarter. Lecap Asset Management Ltd. increased its stake in Tetra Tech by 71.3% in the 4th quarter. Lecap Asset Management Ltd. now owns 44,769 shares of the industrial products company’s stock valued at $1,784,000 after purchasing an additional 18,635 shares in the last quarter. Y Intercept Hong Kong Ltd increased its stake in Tetra Tech by 53.3% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 39,150 shares of the industrial products company’s stock valued at $1,560,000 after purchasing an additional 13,606 shares in the last quarter. Finally, Perpetual Ltd increased its stake in Tetra Tech by 9.6% in the 4th quarter. Perpetual Ltd now owns 215,042 shares of the industrial products company’s stock valued at $8,567,000 after purchasing an additional 18,842 shares in the last quarter. 93.89% of the stock is owned by hedge funds and other institutional investors.

Tetra Tech Price Performance

Shares of NASDAQ:TTEK opened at $35.04 on Wednesday. Tetra Tech, Inc. has a one year low of $27.27 and a one year high of $51.20. The business’s fifty day moving average price is $30.32 and its two-hundred day moving average price is $36.21. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29. The stock has a market cap of $9.39 billion, a PE ratio of 36.81 and a beta of 0.92.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings data on Wednesday, May 7th. The industrial products company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.02. Tetra Tech had a return on equity of 22.58% and a net margin of 4.81%. The business had revenue of $1.10 billion for the quarter, compared to analysts’ expectations of $1.05 billion. During the same quarter last year, the firm earned $0.28 earnings per share. The business’s revenue was up 25.9% on a year-over-year basis. On average, analysts forecast that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 5th. Stockholders of record on Friday, May 23rd will be issued a dividend of $0.065 per share. This is a boost from Tetra Tech’s previous quarterly dividend of $0.06. The ex-dividend date is Friday, May 23rd. This represents a $0.26 annualized dividend and a dividend yield of 0.74%. Tetra Tech’s dividend payout ratio (DPR) is 37.68%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on TTEK. Royal Bank of Canada set a $49.00 price objective on Tetra Tech in a research note on Friday, January 31st. Maxim Group cut Tetra Tech from a “strong-buy” rating to a “hold” rating in a report on Friday, April 4th. Robert W. Baird increased their target price on Tetra Tech from $31.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, May 8th. Finally, KeyCorp increased their target price on Tetra Tech from $34.00 to $41.00 and gave the company an “overweight” rating in a report on Friday, May 9th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $44.15.

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.