Tetra Tech, Inc. (TTEK) To Go Ex-Dividend on February 13th

Tetra Tech, Inc. (NASDAQ:TTEKGet Free Report) announced a quarterly dividend on Monday, January 29th, RTT News reports. Shareholders of record on Wednesday, February 14th will be paid a dividend of 0.26 per share by the industrial products company on Tuesday, February 27th. This represents a $1.04 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date of this dividend is Tuesday, February 13th.

Tetra Tech has raised its dividend by an average of 15.2% per year over the last three years and has increased its dividend every year for the last 9 years. Tetra Tech has a payout ratio of 15.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect Tetra Tech to earn $7.01 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 14.8%.

Tetra Tech Price Performance

Shares of TTEK opened at $178.08 on Friday. The business’s fifty day moving average is $165.34 and its 200 day moving average is $161.17. Tetra Tech has a 12-month low of $131.19 and a 12-month high of $178.65. The company has a quick ratio of 1.12, a current ratio of 1.25 and a debt-to-equity ratio of 0.61. The stock has a market cap of $9.47 billion, a P/E ratio of 41.22 and a beta of 0.95.

Tetra Tech (NASDAQ:TTEKGet Free Report) last released its quarterly earnings data on Wednesday, January 31st. The industrial products company reported $1.40 earnings per share for the quarter, topping the consensus estimate of $1.35 by $0.05. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $974.00 million. Tetra Tech had a net margin of 4.77% and a return on equity of 21.05%. During the same quarter in the prior year, the company posted $1.34 earnings per share. Sell-side analysts anticipate that Tetra Tech will post 6.07 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the company. Robert W. Baird boosted their price objective on Tetra Tech from $172.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday, November 16th. KeyCorp started coverage on Tetra Tech in a research report on Wednesday, January 10th. They issued an “overweight” rating and a $191.00 price target for the company. Finally, Royal Bank of Canada lifted their price objective on shares of Tetra Tech from $192.00 to $203.00 and gave the stock an “outperform” rating in a report on Friday, February 2nd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $197.25.

Check Out Our Latest Stock Report on TTEK

Insider Activity

In other Tetra Tech news, SVP Brian N. Carter sold 1,474 shares of the business’s stock in a transaction on Monday, December 4th. The stock was sold at an average price of $165.58, for a total value of $244,064.92. Following the transaction, the senior vice president now owns 8,360 shares of the company’s stock, valued at $1,384,248.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Tetra Tech news, SVP Brian N. Carter sold 1,474 shares of Tetra Tech stock in a transaction dated Monday, December 4th. The shares were sold at an average price of $165.58, for a total value of $244,064.92. Following the sale, the senior vice president now owns 8,360 shares of the company’s stock, valued at $1,384,248.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Dan L. Batrack sold 22,000 shares of the stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $161.51, for a total transaction of $3,553,220.00. Following the transaction, the chief executive officer now directly owns 48,566 shares of the company’s stock, valued at $7,843,894.66. The disclosure for this sale can be found here. Insiders sold a total of 47,760 shares of company stock valued at $7,794,178 over the last three months. Corporate insiders own 0.61% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Meeder Asset Management Inc. lifted its stake in shares of Tetra Tech by 165.9% during the 4th quarter. Meeder Asset Management Inc. now owns 242 shares of the industrial products company’s stock valued at $35,000 after buying an additional 151 shares in the last quarter. Covestor Ltd boosted its holdings in shares of Tetra Tech by 90.8% in the first quarter. Covestor Ltd now owns 248 shares of the industrial products company’s stock worth $41,000 after acquiring an additional 118 shares during the period. 1832 Asset Management L.P. grew its position in shares of Tetra Tech by 88.7% in the first quarter. 1832 Asset Management L.P. now owns 268 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 126 shares in the last quarter. Quantbot Technologies LP bought a new stake in shares of Tetra Tech during the 2nd quarter valued at $39,000. Finally, Money Concepts Capital Corp lifted its holdings in Tetra Tech by 163.2% during the 4th quarter. Money Concepts Capital Corp now owns 500 shares of the industrial products company’s stock worth $73,000 after purchasing an additional 310 shares in the last quarter. Hedge funds and other institutional investors own 87.95% of the company’s stock.

Tetra Tech Company Profile

(Get Free Report)

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.

Further Reading

Dividend History for Tetra Tech (NASDAQ:TTEK)

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