101,174 Shares in Tetra Tech, Inc. $TTEK Bought by Freestone Grove Partners LP

Key Points

• Freestone Grove Partners acquired 101,174 Tetra Tech shares worth approximately $2.9 million, while institutional investors collectively own 93.89% of the company.
• Tetra Tech exceeded quarterly earnings expectations, reporting $0.42 in EPS versus the $0.40 consensus and $1.31 billion in revenue, although revenue declined 4.4% year over year.
• The stock opened at $36.54, and analysts maintain a “Moderate Buy” consensus with an average price target of $38.25. Tetra Tech also pays a quarterly dividend of $0.072 per share, yielding about 0.8% annually.

Freestone Grove Partners LP acquired a new stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 101,174 shares of the industrial products company's stock, valued at approximately $2,923,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TTEK. Capital International Investors lifted its holdings in shares of Tetra Tech by 27.4% during the 4th quarter. Capital International Investors now owns 9,016,577 shares of the industrial products company's stock valued at $302,416,000 after buying an additional 1,936,902 shares during the last quarter. Geode Capital Management LLC increased its holdings in Tetra Tech by 1.0% in the fourth quarter. Geode Capital Management LLC now owns 5,082,342 shares of the industrial products company's stock worth $170,496,000 after buying an additional 52,375 shares during the last quarter. Corient Private Wealth LLC increased its holdings in Tetra Tech by 84.9% in the second quarter. Corient Private Wealth LLC now owns 4,021,788 shares of the industrial products company's stock worth $147,095,000 after buying an additional 1,847,087 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Tetra Tech by 3.1% during the first quarter. Dimensional Fund Advisors LP now owns 3,789,240 shares of the industrial products company's stock valued at $114,128,000 after acquiring an additional 112,560 shares in the last quarter. Finally, Norges Bank bought a new position in Tetra Tech during the fourth quarter valued at approximately $115,162,000. Hedge funds and other institutional investors own 93.89% of the company's stock.

Tetra Tech Stock Down 0.3%

TTEK opened at $36.54 on Friday. The firm has a market cap of $9.36 billion, a P/E ratio of 22.01 and a beta of 0.90. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.18 and a current ratio of 1.18. The business has a 50 day moving average price of $32.74 and a 200 day moving average price of $31.80. Tetra Tech, Inc. has a twelve month low of $25.81 and a twelve month high of $43.14.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last announced its quarterly earnings results on Wednesday, July 29th. The industrial products company reported $0.42 EPS for the quarter, beating the consensus estimate of $0.40 by $0.02. Tetra Tech had a return on equity of 22.32% and a net margin of 8.60%.The company had revenue of $1.31 billion for the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter last year, the company posted $0.43 earnings per share. The company's revenue for the quarter was down 4.4% compared to the same quarter last year. Tetra Tech has set its Q4 2026 guidance at 0.450-0.480 EPS and its FY 2026 guidance at 1.560-1.590 EPS. Research analysts forecast that Tetra Tech, Inc. will post 1.58 EPS for the current year.

Tetra Tech Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Thursday, August 13th were paid a $0.072 dividend. The ex-dividend date was Thursday, August 13th. This represents a $0.29 dividend on an annualized basis and a yield of 0.8%. Tetra Tech's dividend payout ratio (DPR) is presently 16.87%.

Wall Street Analysts Forecast Growth

Several research firms have commented on TTEK. Weiss Ratings raised shares of Tetra Tech from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, August 7th. National Bank Financial cut their price target on shares of Tetra Tech from $38.00 to $35.00 and set an "outperform" rating on the stock in a report on Monday, July 13th. Robert W. Baird set a $37.00 price objective on shares of Tetra Tech in a research note on Thursday, July 30th. Wall Street Zen cut shares of Tetra Tech from a "buy" rating to a "hold" rating in a report on Saturday, August 22nd. Finally, Royal Bank Of Canada lowered their target price on shares of Tetra Tech from $48.00 to $43.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 22nd. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Tetra Tech currently has an average rating of "Moderate Buy" and an average target price of $38.25.

About Tetra Tech

Tetra Tech, Inc is a leading provider of consulting and engineering services with a focus on water, environment, infrastructure, resource management and energy sectors. Headquartered in Pasadena, California, the company delivers end-to-end solutions that encompass planning, design, engineering, program management and construction management. Tetra Tech's multidisciplinary teams integrate science, technology and advisory services to address complex challenges in areas such as water resources, environmental remediation, sustainable infrastructure and renewable energy.

The company's core offerings include environmental assessments and cleanup, water treatment and reuse, coastal and marine engineering, climate resilience planning, and engineering design for transportation and built environments.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source