TimesSquare Capital Management LLC Purchases 321,151 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

TimesSquare Capital Management LLC increased its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 44.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,036,856 shares of the industrial products company’s stock after buying an additional 321,151 shares during the quarter. TimesSquare Capital Management LLC’s holdings in Tetra Tech were worth $41,308,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. New England Research & Management Inc. bought a new stake in Tetra Tech in the 4th quarter worth approximately $596,000. Harbor Capital Advisors Inc. increased its stake in Tetra Tech by 630.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 36,430 shares of the industrial products company’s stock worth $1,718,000 after purchasing an additional 31,445 shares during the period. Arkadios Wealth Advisors increased its stake in Tetra Tech by 615.8% in the 3rd quarter. Arkadios Wealth Advisors now owns 22,310 shares of the industrial products company’s stock worth $1,052,000 after purchasing an additional 19,193 shares during the period. Lecap Asset Management Ltd. increased its stake in Tetra Tech by 71.3% in the 4th quarter. Lecap Asset Management Ltd. now owns 44,769 shares of the industrial products company’s stock worth $1,784,000 after purchasing an additional 18,635 shares during the period. Finally, Perpetual Ltd increased its stake in Tetra Tech by 9.6% in the 4th quarter. Perpetual Ltd now owns 215,042 shares of the industrial products company’s stock worth $8,567,000 after purchasing an additional 18,842 shares during the period. Institutional investors own 93.89% of the company’s stock.

Tetra Tech Price Performance

TTEK opened at $30.53 on Wednesday. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.29 and a current ratio of 1.29. Tetra Tech, Inc. has a 52-week low of $30.42 and a 52-week high of $51.20. The stock has a market capitalization of $8.18 billion, a PE ratio of 32.07 and a beta of 0.89. The stock’s 50 day moving average price is $38.68 and its 200-day moving average price is $43.54.

Tetra Tech (NASDAQ:TTEK) last posted its earnings results 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, equities research analysts predict that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 26th. Investors of record on Wednesday, February 12th will be given a dividend of $0.058 per share. The ex-dividend date of this dividend is Wednesday, February 12th. This represents a $0.23 annualized dividend and a dividend yield of 0.76%. Tetra Tech’s dividend payout ratio is presently 24.16%.

Insider Activity at Tetra Tech

In related news, Director Kirsten M. Volpi sold 10,116 shares of Tetra Tech stock in a transaction that occurred on Tuesday, February 4th. The stock was sold at an average price of $34.33, for a total transaction of $347,282.28. Following the sale, the director now directly owns 60,196 shares in the company, valued at $2,066,528.68. The trade was a 14.39 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.40% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

TTEK has been the topic of a number of analyst reports. Maxim Group cut Tetra Tech from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. StockNews.com cut Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. KeyCorp decreased their price target on Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a research note on Friday, January 31st. Robert W. Baird lifted 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, Royal Bank of Canada reissued an “outperform” rating and set a $52.00 target price on shares of Tetra Tech in a research note on Friday, November 15th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.