14,950 Shares in Tetra Tech, Inc. (NASDAQ:TTEK) Acquired by New England Research & Management Inc.

New England Research & Management Inc. bought a new position in Tetra Tech, Inc. (NASDAQ:TTEK) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 14,950 shares of the industrial products company’s stock, valued at approximately $596,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Sarasin & Partners LLP lifted its holdings in shares of Tetra Tech by 330.9% during the third quarter. Sarasin & Partners LLP now owns 4,950,383 shares of the industrial products company’s stock worth $233,460,000 after buying an additional 3,801,435 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Tetra Tech by 406.6% during the third quarter. Geode Capital Management LLC now owns 4,716,080 shares of the industrial products company’s stock worth $222,466,000 after buying an additional 3,785,189 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Tetra Tech by 387.3% during the third quarter. Allspring Global Investments Holdings LLC now owns 3,299,418 shares of the industrial products company’s stock worth $155,601,000 after buying an additional 2,622,288 shares during the last quarter. abrdn plc lifted its holdings in shares of Tetra Tech by 353.0% during the third quarter. abrdn plc now owns 2,110,076 shares of the industrial products company’s stock worth $98,477,000 after buying an additional 1,644,267 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Tetra Tech by 357.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,070,483 shares of the industrial products company’s stock worth $97,644,000 after buying an additional 1,618,211 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Tetra Tech Stock Performance

Shares of NASDAQ:TTEK opened at $37.67 on Thursday. The business’s fifty day moving average price is $40.91 and its two-hundred day moving average price is $44.26. Tetra Tech, Inc. has a fifty-two week low of $31.61 and a fifty-two week high of $51.20. The stock has a market capitalization of $10.10 billion, a price-to-earnings ratio of 30.58 and a beta of 0.90. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.25 and a quick ratio of 1.25.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings results on Wednesday, January 29th. The industrial products company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.01. Tetra Tech had a return on equity of 20.64% and a net margin of 6.41%. As a group, analysts predict that Tetra Tech, Inc. will post 1.45 EPS for the current fiscal year.

Tetra Tech Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Wednesday, November 27th were issued a dividend of $0.058 per share. The ex-dividend date of this dividend was Wednesday, November 27th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.62%. Tetra Tech’s payout ratio is presently 18.67%.

Wall Street Analyst Weigh In

TTEK has been the subject of a number of research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and set a $52.00 price target on shares of Tetra Tech in a report on Friday, November 15th. StockNews.com lowered Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. KeyCorp cut their target price on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. Finally, Robert W. Baird upped their target price on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $49.32.

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.