AXQ Capital LP Acquires 3,234 Shares of Tetra Tech, Inc. (NASDAQ:TTEK)

AXQ Capital LP grew its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 21.3% during the 4th quarter, Holdings Channel reports. The fund owned 18,400 shares of the industrial products company’s stock after buying an additional 3,234 shares during the period. AXQ Capital LP’s holdings in Tetra Tech were worth $733,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. Oregon Public Employees Retirement Fund grew its stake in shares of Tetra Tech by 0.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 54,525 shares of the industrial products company’s stock valued at $2,172,000 after acquiring an additional 400 shares during the period. Nordea Investment Management AB boosted its position in shares of Tetra Tech by 0.9% in the fourth quarter. Nordea Investment Management AB now owns 45,422 shares of the industrial products company’s stock worth $1,809,000 after purchasing an additional 411 shares during the period. CIBC Asset Management Inc increased its stake in shares of Tetra Tech by 5.6% in the fourth quarter. CIBC Asset Management Inc now owns 8,318 shares of the industrial products company’s stock worth $331,000 after purchasing an additional 438 shares in the last quarter. Farther Finance Advisors LLC raised its position in shares of Tetra Tech by 13.0% during the 4th quarter. Farther Finance Advisors LLC now owns 4,009 shares of the industrial products company’s stock valued at $160,000 after purchasing an additional 461 shares during the period. Finally, Jones Financial Companies Lllp boosted its holdings in Tetra Tech by 98.0% in the 4th quarter. Jones Financial Companies Lllp now owns 1,000 shares of the industrial products company’s stock worth $40,000 after buying an additional 495 shares during the period. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Royal Bank of Canada set a $49.00 price target on Tetra Tech in a report on Friday, January 31st. Maxim Group downgraded Tetra Tech from a “buy” rating to a “hold” rating in a research note on Thursday, February 6th. Finally, KeyCorp reduced their price objective on shares of Tetra Tech from $49.00 to $45.00 and set an “overweight” rating on the stock in a research report on Friday, January 31st. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $47.92.

Insider Activity

In other Tetra Tech news, Director Kirsten M. Volpi sold 10,116 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $34.33, for a total transaction of $347,282.28. Following the transaction, the director now 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 legal filing with the SEC, which is available at this link. Corporate insiders own 0.40% of the company’s stock.

Tetra Tech Stock Performance

NASDAQ:TTEK opened at $29.04 on Friday. The company has a debt-to-equity ratio of 0.53, a current ratio of 1.29 and a quick ratio of 1.29. The company has a market cap of $7.78 billion, a price-to-earnings ratio of 30.50 and a beta of 0.93. Tetra Tech, Inc. has a 1 year low of $28.17 and a 1 year high of $51.20. The stock’s 50 day simple moving average is $33.41 and its two-hundred day simple moving average is $40.81.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings data on Wednesday, January 29th. The industrial products company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.34 by $0.01. Tetra Tech had a net margin of 4.81% and a return on equity of 22.58%. As a group, equities analysts anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Shareholders of record on Wednesday, February 12th were paid a dividend of $0.058 per share. The ex-dividend date was Wednesday, February 12th. This represents a $0.23 annualized dividend and a yield of 0.80%. Tetra Tech’s payout ratio is currently 24.21%.

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.