Lido Advisors LLC Acquires New Shares in Tetra Tech, Inc. (NASDAQ:TTEK)

Lido Advisors LLC acquired a new stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK) during the second quarter, according to its most recent filing with the SEC. The fund acquired 2,372 shares of the industrial products company’s stock, valued at approximately $388,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Raymond James & Associates increased its stake in Tetra Tech by 6.7% in the 1st quarter. Raymond James & Associates now owns 22,259 shares of the industrial products company’s stock worth $3,671,000 after acquiring an additional 1,395 shares during the last quarter. American Century Companies Inc. increased its stake in Tetra Tech by 20.0% in the 1st quarter. American Century Companies Inc. now owns 3,178 shares of the industrial products company’s stock worth $524,000 after acquiring an additional 529 shares during the last quarter. US Bancorp DE increased its stake in Tetra Tech by 4.2% in the 1st quarter. US Bancorp DE now owns 2,170 shares of the industrial products company’s stock worth $358,000 after acquiring an additional 87 shares during the last quarter. Cetera Advisor Networks LLC bought a new position in Tetra Tech in the 1st quarter worth about $421,000. Finally, Bank of Montreal Can increased its stake in Tetra Tech by 8.2% in the 1st quarter. Bank of Montreal Can now owns 6,868 shares of the industrial products company’s stock worth $1,163,000 after acquiring an additional 522 shares during the last quarter. 87.95% of the stock is currently owned by institutional investors.

Tetra Tech Trading Up 0.8 %

Shares of TTEK stock opened at $165.10 on Monday. The stock has a market capitalization of $8.75 billion, a PE ratio of 32.37 and a beta of 1.00. Tetra Tech, Inc. has a 1-year low of $131.19 and a 1-year high of $173.27. The business has a 50-day moving average of $155.50 and a 200 day moving average of $157.09. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.13 and a quick ratio of 1.17.

Tetra Tech (NASDAQ:TTEK) last issued its earnings results on Wednesday, November 15th. The industrial products company reported $1.78 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.34. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Tetra Tech had a return on equity of 21.63% and a net margin of 6.05%. Tetra Tech’s quarterly revenue was up 43.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.26 EPS. As a group, sell-side analysts anticipate that Tetra Tech, Inc. will post 5.94 earnings per share for the current year.

Tetra Tech Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 13th. Investors of record on Thursday, November 30th will be issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 0.63%. The ex-dividend date of this dividend is Wednesday, November 29th. Tetra Tech’s dividend payout ratio is presently 20.39%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. William Blair assumed coverage on Tetra Tech in a research note on Wednesday, September 13th. They issued an “outperform” rating on the stock. Maxim Group upped their price objective on Tetra Tech from $200.00 to $215.00 in a report on Friday, August 11th. KeyCorp upped their price objective on Tetra Tech from $185.00 to $200.00 and gave the stock an “overweight” rating in a report on Friday, August 11th. StockNews.com assumed coverage on Tetra Tech in a report on Thursday, October 5th. They issued a “hold” rating for the company. Finally, Robert W. Baird upped their price objective on Tetra Tech from $172.00 to $180.00 and gave the stock a “neutral” rating in a report on Thursday. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $194.00.

Tetra Tech Company Profile

Tetra Tech, Inc provides consulting and engineering services worldwide. 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.