Tetra Tech, Inc. (NASDAQ:TTEK) Stake Lifted by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. increased its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 8.3% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 41,546 shares of the industrial products company’s stock after buying an additional 3,200 shares during the quarter. Bahl & Gaynor Inc. owned about 0.08% of Tetra Tech worth $7,674,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in TTEK. Pacer Advisors Inc. grew its stake in Tetra Tech by 28.5% during the 4th quarter. Pacer Advisors Inc. now owns 7,997 shares of the industrial products company’s stock worth $1,335,000 after buying an additional 1,773 shares during the last quarter. Tributary Capital Management LLC grew its stake in Tetra Tech by 1.9% during the 4th quarter. Tributary Capital Management LLC now owns 6,379 shares of the industrial products company’s stock worth $1,065,000 after buying an additional 120 shares during the last quarter. McGlone Suttner Wealth Management Inc. bought a new position in Tetra Tech during the 4th quarter worth $89,000. Relyea Zuckerberg Hanson LLC bought a new position in Tetra Tech during the 4th quarter worth $461,000. Finally, Fifth Third Bancorp grew its stake in Tetra Tech by 36.8% during the 4th quarter. Fifth Third Bancorp now owns 982 shares of the industrial products company’s stock worth $164,000 after buying an additional 264 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors.

Insider Activity

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 completion of the sale, 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 document filed with the SEC, which is available at the SEC website. 0.61% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on TTEK. Robert W. Baird increased their price target on Tetra Tech from $200.00 to $223.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 15th. Northcoast Research raised Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 price target for the company in a research note on Thursday, May 2nd. Maxim Group increased their price target on Tetra Tech from $234.00 to $268.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. StockNews.com cut Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday. Finally, KeyCorp increased their price target on Tetra Tech from $231.00 to $234.00 and gave the stock an “overweight” rating in a research note on Thursday, May 23rd. Two research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $236.60.

Tetra Tech Price Performance

TTEK stock traded up $1.42 during trading hours on Tuesday, hitting $209.76. 85,120 shares of the stock traded hands, compared to its average volume of 274,937. The stock has a 50-day simple moving average of $208.77 and a 200 day simple moving average of $190.93. Tetra Tech, Inc. has a one year low of $143.35 and a one year high of $221.40. The company has a market cap of $11.22 billion, a P/E ratio of 42.17 and a beta of 0.93. 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 announced its earnings results on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share 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 business had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.03 billion. During the same quarter last year, the business posted $1.17 earnings per share. The company’s quarterly revenue was down 9.5% on a year-over-year basis. Equities analysts forecast that Tetra Tech, Inc. will post 6.22 earnings per share for the current year.

Tetra Tech Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 0.55%. This is an increase from Tetra Tech’s previous quarterly dividend of $0.26. The ex-dividend date was Friday, May 17th. Tetra Tech’s dividend payout ratio is currently 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.