Tetra Tech, Inc. (NASDAQ:TTEK) to Issue Quarterly Dividend of $0.07

Tetra Tech, Inc. (NASDAQ:TTEK) announced a quarterly dividend on Wednesday, November 11th. Stockholders of record on Wednesday, December 2nd will be given a dividend of $0.0720 per share by the industrial products company on Friday, December 11th. This represents a $0.29 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Wednesday, December 2nd.

Tetra Tech has increased its dividend by an average of 0.1% annually over the last three years and has raised its dividend every year for the last 11 years. Tetra Tech has a payout ratio of 18.2% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Tetra Tech to earn $1.74 per share next year, which means the company should continue to be able to cover its $0.28 annual dividend with an expected future payout ratio of 16.1%.

Tetra Tech Stock Down 7.5%

NASDAQ:TTEK opened at $37.61 on Thursday. Tetra Tech has a 1-year low of $25.81 and a 1-year high of $43.14. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $9.63 billion, a price-to-earnings ratio of 22.66 and a beta of 0.86. The business’s fifty day moving average price is $35.94 and its 200 day moving average price is $33.25.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings results on Thursday, November 12th. The industrial products company reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.02. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.15 billion. Tetra Tech had a return on equity of 22.32% and a net margin of 8.60%. The firm’s revenue was up 15.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.45 EPS. On average, sell-side analysts forecast that Tetra Tech will post 1.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Tetra Tech

Hedge funds and other institutional investors have recently bought and sold shares of the business. Evelyn Partners Investment Management Services Ltd bought a new stake in shares of Tetra Tech during the first quarter worth $35,000. Mather Group LLC. boosted its holdings in Tetra Tech by 562.0% in the third quarter. Mather Group LLC. now owns 1,377 shares of the industrial products company’s stock valued at $45,000 after acquiring an additional 1,169 shares during the last quarter. Clal Insurance Enterprises Holdings Ltd boosted its holdings in Tetra Tech by 531.1% in the third quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,502 shares of the industrial products company’s stock valued at $49,000 after acquiring an additional 1,264 shares during the last quarter. Root Financial Partners LLC bought a new position in Tetra Tech in the third quarter valued at about $64,000. Finally, Signaturefd LLC increased its position in Tetra Tech by 65.0% in the third quarter. Signaturefd LLC now owns 1,990 shares of the industrial products company’s stock worth $66,000 after purchasing an additional 784 shares during the period. 93.89% of the stock is owned by institutional investors and hedge funds.

Tetra Tech Company Profile

Tetra Tech, Inc. is a consulting and engineering services company founded in 1966. It works with government and commercial clients on projects involving water, the environment, infrastructure, energy, and resource management. The company provides services across the project lifecycle, including planning, consulting, engineering, design, and program and construction management. Its work includes water supply and wastewater systems, environmental assessment and remediation, infrastructure development, and climate resilience.