Beacon Harbor Wealth Advisors Inc. Makes New Investment in Tetra Tech, Inc. (NASDAQ:TTEK)

Financial Advisors


Beacon Harbor Wealth Advisors, Inc. purchased a new position in Tetra Tech (NASDAQ:TTEK – Valuation Obtained) in the fourth quarter, according to a recent disclosure to the Securities and Exchange Commission (SEC). The fund purchased 29,054 shares of the industrial products company, valued at approximately $4,218,000. Beacon Harbor Wealth Advisors owned approximately 0.05% of Tetra Tech at the end of the most recent quarter.

Other institutional investors have also recently changed their stakes in the company. Massmutual Trust Co. FSB ADV increased its stake in Tetra Tech shares by 1,464.3% in the fourth quarter. Massmutual Trust Co. FSB ADV acquired an additional 205 shares during the last quarter and now owns 219 shares of the industrial products company, valued at $32,000. Quantbot Technologies LP acquired a new stake in his Tetra Tech stock worth approximately $39,000 during the second quarter. Accurate Wealth Management LLC acquired new shares of Tetra Tech stock valued at approximately $41,000 during the fourth quarter. Covestor Ltd increased his Tetra Tech stock position by 90.8% during the first quarter. Covestor Ltd purchased an additional 118 shares during the period and now owns 248 shares of the industrial products company, valued at $41,000. Finally, Ellevest Inc. increased his position in Tetra Tech stock by 180.6% during the third quarter. Ellevest Inc. purchased an additional 260 shares during the period and now owns 404 shares of the industrial products company, valued at $52,000. 85.28% of the shares are held by institutional investors.

Wall Street analyst speaks out

Several equity research analysts recently commented on the stock. StockNews.com downgraded Tetratec shares from ‘buy’ to ‘hold’ in its research report on Friday, May 12. 1-800-FLOWERS.COM reiterated its ‘maintain’ rating on Tetra Tech shares in its research report on Thursday, May 11. Finally, Robert W. Baird raised his price target for Tetra’s tech shares from $164.00 to $170.00, in a report Thursday, May 11.

Tetra Tech’s share price performance

The Nasdaq TTEK fell $0.34 to $143.71 on Monday. 80,606 shares were exchanged for an average turnover of 263,741 shares. The company has a debt to equity ratio of 0.79, a current ratio of 1.25 and a quick ratio of 1.25. His 50-day moving average for this company is $141.77 and his 200-day moving average is $145.78. Tetra Tech, Inc. hit a 52-week low of $118.55 and a 52-week high of $169.67. The company has a market cap of $7.65 billion, a P/E price of 25.63x and a beta of 0.97x.

Tetra Tech (NASDAQ:TTEK – Get Rating) last reported quarterly results on Wednesday, May 10. The industrial products company reported his EPS of $1.17 for the quarter, beating consensus expectations of $0.96 by $0.21. Tetra Tech’s net margin was 7.83% and return on equity was 20.51%. The business generated $1.16 billion in revenue for the quarter, with consensus expectations of $810 million. The company posted earnings per share of $0.98 in the year-ago quarter. Research analysts expect Tetra Tech, Inc.’s EPS to reach 5.12 this fiscal year.

Tetratec raises dividend

The company also recently announced a quarterly dividend payable on Tuesday, June 6. The shareholder of record on Wednesday, May 24 will be paid a dividend of $0.26 per share. This equates to his $1.04 dividend and his 0.72% yield on an annualized basis. This is up from Tetra Tech’s previous quarterly dividend of $0.23. The ex-dividend date for this dividend will be Tuesday, May 23. Tetra Tech’s dividend payout ratio is currently 16.37%.

About Tetratec

(get rating)

Tetra Tech, Inc provides consulting and engineering services. It operates through the segments Government Services Group (GSG), Commercial and International Services Group (CIG), and Rehabilitation and Construction Management (RCM). The GSG segment provides consulting and engineering services primarily to U.S. government clients, including federal, state and local, as well as development agencies around the world.

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Want to know if other hedge funds hold TTEK? Visit HoldingsChannel.com to get Tetra Tech, Inc.’s (NASDAQ:TTEK – Get Rating) latest 13F filings and insider trading.

Tetratec Quarterly Institutional Ownership (NASDAQ:TTEK)

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