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

Tetra Tech, Inc. (NASDAQ:TTEK) declared a quarterly dividend on Friday, November 15th,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 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date is Wednesday, November 27th.

Tetra Tech has increased its dividend payment by an average of 15.2% annually over the last three years. Tetra Tech has a dividend payout ratio of 15.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Tetra Tech to earn $1.65 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 13.9%.

Tetra Tech Price Performance

Shares of TTEK stock traded up $0.29 during trading hours on Friday, hitting $41.25. The company had a trading volume of 3,662,535 shares, compared to its average volume of 1,454,707. Tetra Tech has a 12 month low of $30.92 and a 12 month high of $51.20. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.21 and a current ratio of 1.21. The firm’s fifty day moving average is $47.82 and its 200 day moving average is $44.55. The firm has a market capitalization of $11.04 billion, a price-to-earnings ratio of 32.87 and a beta of 0.94.

Analyst Upgrades and Downgrades

TTEK has been the topic of a number of analyst reports. StockNews.com upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a research report on Tuesday, October 15th. Robert W. Baird increased their target price on shares of Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Thursday. Royal Bank of Canada reissued an “outperform” rating and set a $52.00 price target on shares of Tetra Tech in a research report on Friday. Finally, KeyCorp lowered their price objective on shares of Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company in a research report on Friday. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Tetra Tech presently has a consensus rating of “Moderate Buy” and an average target price of $49.32.

Insider Buying and Selling

In related news, EVP Leslie L. Shoemaker sold 78,420 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 296,015 shares of the company’s stock, valued at approximately $13,649,251.65. This represents a 20.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kimberly E. Ritrievi sold 6,500 shares of the business’s 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 transaction, the director now directly owns 143,200 shares in the company, valued at $6,655,936. This trade represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 121,750 shares of company stock worth $5,633,239 over the last ninety days. Company insiders own 0.61% of the company’s stock.

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.