Jennison Associates LLC Makes New $22.65 Million Investment in Tetra Tech, Inc. (NASDAQ:TTEK)

Jennison Associates LLC bought a new stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) during the fourth quarter, Holdings Channel.com reports. The fund bought 568,589 shares of the industrial products company’s stock, valued at approximately $22,653,000.

Other institutional investors also recently bought and sold shares of the company. Allworth Financial LP boosted its position in Tetra Tech by 629.3% during the 3rd quarter. Allworth Financial LP now owns 547 shares of the industrial products company’s stock valued at $26,000 after acquiring an additional 472 shares in the last quarter. LGT Financial Advisors LLC grew its stake in Tetra Tech by 400.0% in the third quarter. LGT Financial Advisors LLC now owns 555 shares of the industrial products company’s stock worth $26,000 after purchasing an additional 444 shares during the period. Venturi Wealth Management LLC raised its holdings in Tetra Tech by 3,261.1% in the third quarter. Venturi Wealth Management LLC now owns 605 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 587 shares in the last quarter. Canton Hathaway LLC lifted its position in Tetra Tech by 400.0% during the third quarter. Canton Hathaway LLC now owns 645 shares of the industrial products company’s stock valued at $30,000 after buying an additional 516 shares during the period. Finally, USA Financial Formulas boosted its holdings in shares of Tetra Tech by 332.3% during the 3rd quarter. USA Financial Formulas now owns 709 shares of the industrial products company’s stock valued at $33,000 after buying an additional 545 shares in the last quarter. 93.89% of the stock is owned by institutional investors.

Tetra Tech Stock Down 1.3 %

Shares of Tetra Tech stock opened at $34.09 on Thursday. The company has a 50-day simple moving average of $40.32 and a two-hundred day simple moving average of $44.07. Tetra Tech, Inc. has a 52-week low of $31.09 and a 52-week high of $51.20. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.25 and a current ratio of 1.29. The stock has a market capitalization of $9.14 billion, a PE ratio of 35.81 and a beta of 0.89.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings data 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 22.58% and a net margin of 4.81%. On average, analysts anticipate that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be issued a $0.058 dividend. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $0.23 annualized dividend and a yield of 0.68%. Tetra Tech’s payout ratio is 24.16%.

Analyst Ratings Changes

Several brokerages recently issued reports on TTEK. Royal Bank of Canada reiterated an “outperform” rating and issued a $52.00 price target on shares of Tetra Tech in a research note on Friday, November 15th. Robert W. Baird raised their target price on shares of Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. KeyCorp dropped their price target on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Finally, StockNews.com lowered Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $48.52.

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.