Tetra Tech, Inc. TTEK currently boasts robust growth prospects on its diversified business structure, strong backlog level, acquired assets and a sound capital-deployment strategy.Image Source: Zacks Investment ResearchThe Zacks Rank #2 (Buy) company has a market capitalization of $6.7 billion. In the past year, it has gained 51.5% compared with the industry’s growth of 39.3%.Let’s delve into the factors that make investment in the company a smart choice at the moment.Diversified Business Structure: Tetra Tech’s diversified business structure allows it to mitigate the weakness in one end market with strength across others. Of late, the company has been benefiting from projects related to municipal water programs and disaster response planning. Also, commercial and government projects across the United Kingdom, Canada and Australia are likely to drive its performance in the quarters ahead. For fiscal 2021 (ending September 2021), Tetra Tech anticipates generating net revenues of $2.45-$2.55 billion, higher than $2.40-$2.55 billion projected earlier. Exiting the second quarter of fiscal 2021 (ended Mar 28, 2021), its backlog remained strong at $3,150.2 million.Acquisition Benefits: The company intends to strengthen and expand its businesses through acquisitions. Its acquisition of Coanda Research & Development (February 2021) will enable it to strengthen its advanced analytics business. Also, the IBRA-RMAC Automation Systems buyout (April 2021) will facilitate it in strengthening its digital water system business. In May 2021, the company completed the acquisition of The Kaizen Company and boosted growth opportunities of its Government Services Group.Rewards to Shareholders: It remains committed to rewarding shareholders through dividend payouts and share buybacks. In the first six months of fiscal 2021, the company paid out dividends worth $18.4 million and bought back shares worth $30 million. In April 2021, it also announced an 18% hike in its quarterly dividend rate.In the past 60 days, the Zacks Consensus Estimate for its fiscal 2021 earnings has trended up from $3.62 to $3.65 on one upward estimate revision against none downward. Also, the estimates for fiscal 2022 (ending September 2022) earnings have increased from $3.91 to $3.93 on one upward estimate revision versus none downward.Other Key PicksSome other top-ranked stocks are Heritage-Crystal Clean, Inc HCCI, Donaldson Company, Inc. DCI and Flowserve Corporation FLS. While Heritage-Crystal Clean sports a Zacks Rank #1 (Strong Buy), Donaldson and Flowserve carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.Heritage-Crystal Clean delivered an earnings surprise of 79.80%, on average, in the trailing four quarters.Donaldson delivered an earnings surprise of 9.02%, on average, in the trailing four quarters.Flowserve delivered an earnings surprise of 33.19%, on average, in the trailing four quarters. More Stock News: This Is Bigger than the iPhone! It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market. Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 4 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2022.Click here for the 4 trades >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Tetra Tech, Inc. (TTEK): Free Stock Analysis Report Flowserve Corporation (FLS): Free Stock Analysis Report Donaldson Company, Inc. (DCI): Free Stock Analysis Report HeritageCrystal Clean, Inc. (HCCI): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research