Tetra Tech said on February 1, 2023 that its board of directors declared a regular quarterly dividend of $0.23 per share ($0.92 annualized). Shareholders of record as of February 10, 2023 will receive the payment on February 24, 2023. Previously, the company paid $0.23 per share.
At the current share price of $157.25 / share, the stock's dividend yield is 0.59%. Looking back five years and taking a sample every week, the average dividend yield has been 0.69%, the lowest has been 0.42%, and the highest has been 0.98%. The standard deviation of yields is 0.12 (n=236).
The current dividend yield is 0.83 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.16. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.53%, demonstrating that it has increased its dividend over time.
Analyst Price Forecast Suggests 20.13% Upside
As of February 3, 2023, the average one-year price target for Tetra Tech is $188.90. The forecasts range from a low of $156.55 to a high of $217.35. The average price target represents an increase of 20.13% from its latest reported closing price of $157.25.
The projected annual revenue for Tetra Tech is $3,060MM, an increase of 5.78%. The projected annual EPS is $5.02, a decrease of 13.94%.
Fund Sentiment
There are 951 funds or institutions reporting positions in Tetra Tech. This is a decrease of 32 owner(s) or 3.26%.
Average portfolio weight of all funds dedicated to US:TTEK is 0.3299%, a decrease of 1.6919%. Total shares owned by institutions increased in the last three months by 0.30% to 53,422K shares.
What are large shareholders doing?
Alliancebernstein holds 3,199,519 shares representing 6.01% ownership of the company. In it's prior filing, the firm reported owning 3,349,783 shares, representing a decrease of 4.70%. The firm decreased its portfolio allocation in TTEK by 4.70% over the last quarter.
Pictet Asset Management holds 2,637,863 shares representing 4.96% ownership of the company. In it's prior filing, the firm reported owning 2,577,458 shares, representing an increase of 2.29%. The firm increased its portfolio allocation in TTEK by 2.76% over the last quarter.
Neuberger Berman Group holds 1,751,211 shares representing 3.29% ownership of the company. In it's prior filing, the firm reported owning 1,763,024 shares, representing a decrease of 0.67%. The firm decreased its portfolio allocation in TTEK by 2.86% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,597,256 shares representing 3.00% ownership of the company. In it's prior filing, the firm reported owning 1,580,382 shares, representing an increase of 1.06%. The firm decreased its portfolio allocation in TTEK by 0.84% over the last quarter.
IJH - iShares Core S&P Mid-Cap ETF holds 1,558,097 shares representing 2.93% ownership of the company. In it's prior filing, the firm reported owning 1,540,731 shares, representing an increase of 1.11%. The firm decreased its portfolio allocation in TTEK by 4.34% over the last quarter.
Tetra Tech Background Information
(This description is provided by the company.)
Tetra Tech is a leading provider of high-end consulting and engineering services for projects worldwide. With 20,000 associates working together, Tetra Tech provides clear solutions to complex problems in water, environment, sustainable infrastructure, and renewable energy. The Company is Leading with Science® to provide sustainable and resilient solutions for its clients.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
