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

Tetra Tech, Inc. (NASDAQ:TTEK) declared a quarterly dividend on Monday, November 11th,Wall Street Journal reports. Shareholders of record on Wednesday, November 27th will be given a dividend of 0.058 per share by the industrial products company on Friday, December 13th. This represents a $0.23 annualized dividend and a yield of 0.56%. The ex-dividend date is Wednesday, November 27th.

Tetra Tech has increased its dividend by an average of 15.2% annually over the last three years. Tetra Tech has a payout ratio of 15.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Tetra Tech to earn $1.67 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 13.8%.

Tetra Tech Stock Performance

TTEK stock opened at $41.22 on Tuesday. The firm has a 50 day simple moving average of $47.06 and a 200 day simple moving average of $44.62. Tetra Tech has a 52 week low of $30.92 and a 52 week high of $51.20. The stock has a market cap of $11.04 billion, a P/E ratio of 33.46 and a beta of 0.94. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.25 and a current ratio of 1.25.

Insider Buying and Selling at Tetra Tech

In other news, Director Kimberly E. Ritrievi sold 6,500 shares of the company’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 transaction of $302,120.00. Following the completion of the transaction, the director now directly owns 143,200 shares in the company, valued at $6,655,936. The trade was a 4.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Leslie L. Shoemaker sold 78,420 shares of the firm’s stock in a transaction 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 sale, the executive vice president now owns 296,015 shares in the company, valued at approximately $13,649,251.65. The trade was a 20.94 % 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 90 days. Insiders own 0.61% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on TTEK. Royal Bank of Canada restated an “outperform” rating and set a $52.00 price target on shares of Tetra Tech in a report on Friday, November 15th. Robert W. Baird boosted their target price on Tetra Tech from $46.00 to $47.00 and gave the company a “neutral” rating in a research note on Thursday, November 14th. StockNews.com downgraded Tetra Tech from a “buy” rating to a “hold” rating in a research note on Friday, November 15th. Finally, KeyCorp lowered their price target on Tetra Tech from $56.00 to $49.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $49.32.

Tetra Tech Company Profile

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.