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

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

Tetra Tech has increased its dividend payment by an average of 15.2% per year over the last three years. Tetra Tech has a payout ratio of 15.6% indicating that its dividend is sufficiently covered by earnings. Equities research 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 %

NASDAQ:TTEK opened at $40.96 on Monday. The company has a market capitalization of $10.97 billion, a P/E ratio of 33.25 and a beta of 0.94. The stock’s 50 day moving average price is $47.06 and its 200 day moving average price is $44.62. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.25 and a current ratio of 1.25. Tetra Tech has a 52 week low of $30.92 and a 52 week high of $51.20.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on TTEK. StockNews.com downgraded shares of Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday, November 15th. Royal Bank of Canada restated an “outperform” rating and set a $52.00 target price on shares of Tetra Tech in a report on Friday, November 15th. Robert W. Baird upped their price target on Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research note on Thursday, November 14th. Finally, KeyCorp cut their price objective on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating on the stock in a research note on Friday, November 15th. Two equities 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, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $49.32.

Insider Activity

In other news, Director Kimberly E. Ritrievi sold 6,500 shares of the stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $46.48, for a total value of $302,120.00. Following the completion of the sale, the director now directly owns 143,200 shares of the company’s stock, valued at approximately $6,655,936. This represents a 4.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Leslie L. Shoemaker sold 78,420 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $46.11, for a total transaction of $3,615,946.20. Following the transaction, the executive vice president now directly owns 296,015 shares in the company, valued at $13,649,251.65. This trade represents a 20.94 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 121,750 shares of company stock valued at $5,633,239. 0.61% of the stock is owned by insiders.

Tetra Tech Company 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.