Algert Global LLC Purchases 212,990 Shares of Tetra Tech, Inc. $TTEK

Key Points

• Algert Global more than doubled its Tetra Tech stake in the second quarter, purchasing 212,990 additional shares and bringing its holdings to 415,099 shares valued at approximately $12 million.
• Institutional ownership remains high at 93.89%, while analysts maintain a generally positive outlook with a “Moderate Buy” consensus rating and an average price target of $38.25.
• Tetra Tech beat quarterly earnings expectations, reporting $0.42 in EPS versus $0.40 estimated and $1.31 billion in revenue, though revenue declined 4.4% year over year. The company also announced a quarterly dividend of $0.072 per share.

Algert Global LLC increased its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 105.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 415,099 shares of the industrial products company's stock after buying an additional 212,990 shares during the period. Algert Global LLC owned 0.16% of Tetra Tech worth $11,992,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Sanctuary Advisors LLC acquired a new position in Tetra Tech during the 2nd quarter worth $258,000. Neumeier Poma Investment Counsel LLC bought a new position in shares of Tetra Tech in the second quarter worth about $43,750,380,000. Globeflex Capital L P acquired a new position in shares of Tetra Tech during the 2nd quarter worth about $72,000. Northwestern Mutual Wealth Management Co. bought a new stake in Tetra Tech during the 2nd quarter valued at approximately $414,000. Finally, Allworth Financial LP bought a new stake in Tetra Tech during the 2nd quarter valued at approximately $163,000. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Wall Street Zen lowered Tetra Tech from a "buy" rating to a "hold" rating in a research note on Saturday. Weiss Ratings raised Tetra Tech from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, August 7th. Royal Bank Of Canada dropped their price objective on Tetra Tech from $48.00 to $43.00 and set an "outperform" rating for the company in a research note on Wednesday, July 22nd. Robert W. Baird set a $37.00 target price on shares of Tetra Tech in a research note on Thursday, July 30th. Finally, National Bank Financial lowered their target price 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. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, Tetra Tech has an average rating of "Moderate Buy" and a consensus target price of $38.25.

Tetra Tech Price Performance

Tetra Tech stock opened at $36.79 on Wednesday. The business's fifty day moving average is $32.20 and its two-hundred day moving average is $31.83. 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 firm has a market cap of $9.42 billion, a P/E ratio of 22.16 and a beta of 0.90. Tetra Tech, Inc. has a 52 week low of $25.81 and a 52 week high of $43.14.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last announced its earnings results on Wednesday, July 29th. The industrial products company reported $0.42 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $1.08 billion. During the same period last year, the company posted $0.43 earnings per share. The firm's quarterly revenue 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. Equities research analysts forecast that Tetra Tech, Inc. will post 1.58 earnings per share for the current fiscal year.

Tetra Tech Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Shareholders of record on Thursday, August 13th will be issued a dividend of $0.072 per share. The ex-dividend date of this dividend is Thursday, August 13th. This represents a $0.29 annualized dividend and a yield of 0.8%. Tetra Tech's dividend payout ratio is currently 16.87%.

Tetra Tech Profile

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.

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