Los Angeles Capital Management LLC Buys 18,794 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

Los Angeles Capital Management LLC raised its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by 39.3% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 66,585 shares of the industrial products company’s stock after purchasing an additional 18,794 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.12% of Tetra Tech worth $12,299,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Contravisory Investment Management Inc. bought a new position in Tetra Tech in the fourth quarter valued at approximately $26,000. Jones Financial Companies Lllp acquired a new stake in shares of Tetra Tech in the fourth quarter valued at approximately $33,000. Principal Securities Inc. acquired a new stake in shares of Tetra Tech in the fourth quarter valued at approximately $36,000. Creekmur Asset Management LLC acquired a new stake in shares of Tetra Tech in the fourth quarter valued at approximately $38,000. Finally, SRS Capital Advisors Inc. lifted its position in shares of Tetra Tech by 305.2% in the fourth quarter. SRS Capital Advisors Inc. now owns 235 shares of the industrial products company’s stock valued at $39,000 after buying an additional 177 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Tetra Tech news, EVP Leslie L. Shoemaker sold 11,161 shares of the firm’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 transaction, the executive vice president now owns 74,887 shares in the company, valued at approximately $15,863,313.21. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Tetra Tech Stock Performance

NASDAQ:TTEK opened at $207.69 on Thursday. The stock has a market cap of $11.11 billion, a P/E ratio of 42.04 and a beta of 0.98. The stock has a 50 day simple moving average of $205.10 and a 200 day simple moving average of $184.38. 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, Inc. has a 1-year low of $143.35 and a 1-year high of $221.40.

Tetra Tech (NASDAQ:TTEK) last posted its quarterly earnings data on Wednesday, May 1st. The industrial products company reported $1.42 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.13. Tetra Tech had a return on equity of 21.16% and a net margin of 5.36%. The firm had revenue of $1.05 billion for the quarter, compared to analyst estimates of $1.03 billion. During the same quarter last year, the company earned $1.17 EPS. The company’s revenue was down 9.5% on a year-over-year basis. Research analysts anticipate that Tetra Tech, Inc. will post 6.2 earnings per share for the current year.

Tetra Tech Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Shareholders of record on Monday, May 20th were paid a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Friday, May 17th. This is a positive change from Tetra Tech’s previous quarterly dividend of $0.26. Tetra Tech’s dividend payout ratio (DPR) is 23.48%.

Analyst Upgrades and Downgrades

TTEK has been the subject of a number of recent analyst reports. KeyCorp raised their price objective on Tetra Tech from $231.00 to $234.00 and gave the company an “overweight” rating in a research report on Thursday, May 23rd. Northcoast Research raised 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. Maxim Group raised their price objective on Tetra Tech from $234.00 to $268.00 and gave the company a “buy” rating in a research report on Thursday, May 16th. Royal Bank of Canada lifted their price target on Tetra Tech from $203.00 to $233.00 and gave the stock an “outperform” rating in a report on Friday, May 3rd. Finally, StockNews.com cut Tetra Tech from a “buy” rating to a “hold” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $236.60.

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.