Tetra Tech, Inc. (NASDAQ:TTEK) Announces Quarterly Dividend of $0.06

Tetra Tech, Inc. (NASDAQ:TTEK) declared a quarterly dividend on Monday, November 11th,Wall Street Journal reports. Stockholders of record on Wednesday, November 27th will be given a dividend of 0.058 per share by the industrial products company on Friday, December 13th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Wednesday, November 27th.

Tetra Tech has raised its dividend by an average of 15.2% annually over the last three years. Tetra Tech has a payout ratio of 15.6% meaning its dividend is sufficiently covered by earnings. Analysts expect Tetra Tech to earn $1.67 per share next year, which means the company should continue to be able to cover its $0.23 annual dividend with an expected future payout ratio of 13.8%.

Tetra Tech Trading Up 0.4 %

Shares of TTEK opened at $40.96 on Monday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.25 and a quick ratio of 1.25. The firm has a market capitalization of $10.97 billion, a price-to-earnings ratio of 33.25 and a beta of 0.94. The company has a 50-day moving average of $47.06 and a 200 day moving average of $44.62. Tetra Tech has a 1-year low of $30.92 and a 1-year high of $51.20.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on TTEK. Robert W. Baird lifted their price target on shares of Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Royal Bank of Canada reiterated an “outperform” rating and issued a $52.00 target price on shares of Tetra Tech in a report on Friday, November 15th. StockNews.com downgraded Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, KeyCorp decreased their price objective on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company in a report on Friday, November 15th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $49.32.

Insider Activity

In other Tetra Tech news, CFO Steven M. Burdick sold 36,830 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $46.57, for a total value of $1,715,173.10. Following the completion of the sale, the chief financial officer now directly owns 112,620 shares in the company, valued at $5,244,713.40. This trade represents a 24.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Leslie L. Shoemaker sold 78,420 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $46.11, for a total value of $3,615,946.20. Following the transaction, the executive vice president now directly owns 296,015 shares in the company, valued at approximately $13,649,251.65. The trade was a 20.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 121,750 shares of company stock worth $5,633,239. 0.61% of the stock is currently 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.