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

Tetra Tech, Inc. (NASDAQ:TTEK) declared a quarterly dividend on Monday, November 11th,Wall Street Journal reports. Investors of record on Wednesday, November 27th will be paid a dividend of 0.058 per share by the industrial products company on Friday, December 13th. This represents a $0.23 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date of this dividend is Wednesday, November 27th.

Tetra Tech has raised 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

Shares of NASDAQ TTEK opened at $40.96 on Monday. The firm’s fifty day moving average is $47.06 and its two-hundred day moving average is $44.62. Tetra Tech has a 52-week low of $30.92 and a 52-week high of $51.20. The company has a market cap of $10.97 billion, a P/E ratio of 33.25 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 Activity

In other Tetra Tech news, EVP Leslie L. Shoemaker sold 78,420 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $46.11, for a total transaction of $3,615,946.20. Following the transaction, the executive vice president now owns 296,015 shares in the company, valued at $13,649,251.65. The trade was a 20.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Kimberly E. Ritrievi sold 6,500 shares of the firm’s stock in a transaction dated 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 sale, the director now owns 143,200 shares of the company’s stock, valued at $6,655,936. This trade represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 121,750 shares of company stock valued at $5,633,239 in the last ninety days. Insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on TTEK. KeyCorp decreased 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. Royal Bank of Canada reaffirmed an “outperform” rating and set a $52.00 price objective on shares of Tetra Tech in a report on Friday, November 15th. StockNews.com downgraded Tetra Tech from a “buy” rating to a “hold” rating in a research report on Friday, November 15th. Finally, Robert W. Baird boosted their price target on shares of Tetra Tech from $46.00 to $47.00 and gave the stock a “neutral” rating in a research report on Thursday, November 14th. 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 stock presently has a consensus rating of “Moderate Buy” and an average target price of $49.32.

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.