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. Stockholders 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 dividend yield of 0.56%. The ex-dividend date of this dividend is Wednesday, November 27th.

Tetra Tech has raised its dividend payment by an average of 15.2% annually over the last three years. Tetra Tech has a payout ratio of 15.6% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Trading Up 0.6 %

NASDAQ:TTEK opened at $41.22 on Tuesday. The firm has a market capitalization of $11.04 billion, a P/E ratio of 33.46 and a beta of 0.94. The business has a 50 day simple moving average of $47.06 and a 200 day simple moving average of $44.62. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.25 and a quick ratio of 1.25. Tetra Tech has a 12-month low of $30.92 and a 12-month high of $51.20.

Analysts Set New Price Targets

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

Insider Activity at Tetra Tech

In related news, CFO Steven M. Burdick sold 36,830 shares of Tetra Tech stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $46.57, for a total value of $1,715,173.10. Following the transaction, the chief financial officer now directly owns 112,620 shares in the company, valued at $5,244,713.40. The trade was a 24.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Leslie L. Shoemaker sold 78,420 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total value of $3,615,946.20. Following the sale, 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 disclosure for this sale can be found here. Insiders sold 121,750 shares of company stock valued at $5,633,239 over the last 90 days. 0.61% of the stock is currently owned by corporate insiders.

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.