Scholtz & Company LLC Reduces Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Scholtz & Company LLC cut its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 25,481 shares of the industrial products company’s stock after selling 332 shares during the period. Tetra Tech makes up 2.1% of Scholtz & Company LLC’s portfolio, making the stock its 16th largest holding. Scholtz & Company LLC’s holdings in Tetra Tech were worth $4,254,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in TTEK. Norges Bank purchased a new stake in Tetra Tech in the 4th quarter valued at about $96,655,000. AEGON ASSET MANAGEMENT UK Plc purchased a new stake in Tetra Tech in the 4th quarter valued at about $82,209,000. International Assets Investment Management LLC boosted its position in Tetra Tech by 16,621.9% in the 4th quarter. International Assets Investment Management LLC now owns 221,064 shares of the industrial products company’s stock valued at $36,902,000 after buying an additional 219,742 shares during the period. Sarasin & Partners LLP boosted its position in Tetra Tech by 18.3% in the 4th quarter. Sarasin & Partners LLP now owns 1,221,928 shares of the industrial products company’s stock valued at $203,976,000 after buying an additional 189,049 shares during the period. Finally, Bank of Nova Scotia purchased a new stake in Tetra Tech in the 3rd quarter valued at about $23,934,000. 93.89% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

TTEK has been the subject of several research reports. Northcoast Research raised shares of Tetra Tech from a “neutral” rating to a “buy” rating and set a $225.00 price objective for the company in a research report on Thursday, May 2nd. Robert W. Baird upped their price target on shares of Tetra Tech from $200.00 to $223.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 15th. KeyCorp upped their price target on shares of Tetra Tech from $231.00 to $234.00 and gave the stock an “overweight” rating in a research report on Thursday, May 23rd. StockNews.com raised shares of Tetra Tech from a “hold” rating to a “buy” rating in a research report on Tuesday, May 14th. Finally, Maxim Group boosted their price objective on shares of Tetra Tech from $234.00 to $268.00 and gave the stock a “buy” rating in a research note on Thursday, May 16th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $236.60.

Tetra Tech Stock Performance

Tetra Tech stock traded down $1.17 during mid-day trading on Friday, reaching $203.58. 264,556 shares of the company traded hands, compared to its average volume of 250,488. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.24 and a quick ratio of 1.24. Tetra Tech, Inc. has a fifty-two week low of $143.35 and a fifty-two week high of $221.40. The company has a market capitalization of $10.89 billion, a price-to-earnings ratio of 41.21 and a beta of 0.98. The firm’s fifty day moving average is $202.38 and its two-hundred day moving average is $181.82.

Tetra Tech (NASDAQ:TTEK) last announced its quarterly earnings results on Wednesday, May 1st. The industrial products company reported $1.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.13. Tetra Tech had a net margin of 5.36% and a return on equity of 21.16%. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.03 billion. During the same period in the prior year, the firm posted $1.17 earnings per share. The firm’s quarterly revenue was down 9.5% compared to the same quarter last year. On average, equities research analysts expect that Tetra Tech, Inc. will post 6.2 earnings per share for the current fiscal year.

Tetra Tech Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, May 31st. Stockholders of record on Monday, May 20th were given a $0.29 dividend. This represents a $1.16 dividend on an annualized basis and a dividend yield of 0.57%. This is a boost 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 23.48%.

Tetra Tech 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.