Tetra Tech, Inc. (NASDAQ:TTEK) shares are trading higher on Thursday.
The company revealed that the U.S. Army Corps of Engineers (USACE), Omaha District, awarded $249 million, multiple-award contract to provide environmental assessment and design services at facilities and sites throughout the United States.
Under this 7-year contract, Tetra Tech's scientists, engineers, and technical specialists will provide a range of comprehensive environmental services.
These include developing water resource management plans, assessing and protecting ecosystems, and designing sustainable building elements to enhance water and energy efficiency.
"Tetra Tech has supported the USACE for more than 40 years to restore and protect the environmental resources at its facilities," said Dan Batrack, Tetra Tech Chairman and CEO.
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According to Benzinga Pro, TTEK stock has gained over 58% in the past year. Investors can gain exposure to the stock via Tidal ETF Trust Newday Ocean Health ETF (NYSE:AHOY) and iShares Environmental Infrastructure and Industrials ETF (NASDAQ:EFRA).
Last month, the U.S. Agency for International Development (USAID) awarded the company a $39.3 million single-award contract to increase gender equality.
On July 29, Tetra Tech's Board of Directors approved a five-for-one stock split of the company's common stock. Trading commenced on a split-adjusted basis at market open on September 9.
Price Action: TTEK shares are trading higher by 2.35% to $47.98 at last check Thursday.
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