Allianz Asset Management GmbH Sells 229,096 Shares of Tetra Tech, Inc. $TTEK

Key Points

• Allianz Asset Management GmbH reduced its stake in Tetra Tech, Inc. by 10.2%, selling 229,096 shares and holding approximately 2 million shares valued at $72.6 million.
• Research analysts have mixed opinions on Tetra Tech, with Royal Bank of Canada setting a price target of $47 and multiple firms giving ratings ranging from "buy" to "hold."
• Tetra Tech recently announced a quarterly dividend of $0.065 per share, representing an annualized yield of 0.8%, with a dividend payout ratio of 32.5%.

Allianz Asset Management GmbH trimmed its holdings in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 10.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,019,572 shares of the industrial products company's stock after selling 229,096 shares during the period. Allianz Asset Management GmbH owned about 0.77% of Tetra Tech worth $72,624,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Chilton Capital Management LLC bought a new position in shares of Tetra Tech during the first quarter valued at about $25,000. Central Pacific Bank Trust Division bought a new position in shares of Tetra Tech during the second quarter valued at about $32,000. Baillie Gifford & Co. bought a new position in shares of Tetra Tech during the first quarter valued at about $27,000. SVB Wealth LLC bought a new position in shares of Tetra Tech during the first quarter valued at about $36,000. Finally, Geneos Wealth Management Inc. lifted its position in shares of Tetra Tech by 136.1% during the first quarter. Geneos Wealth Management Inc. now owns 1,303 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 751 shares in the last quarter. 93.89% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on TTEK shares. Royal Bank Of Canada set a $47.00 price target on shares of Tetra Tech and gave the company an "outperform" rating in a research report on Monday, September 29th. Weiss Ratings restated a "hold (c)" rating on shares of Tetra Tech in a report on Wednesday, October 8th. Northcoast Research restated a "neutral" rating on shares of Tetra Tech in a report on Wednesday, October 1st. Wall Street Zen downgraded shares of Tetra Tech from a "buy" rating to a "hold" rating in a report on Friday, October 3rd. Finally, KeyCorp raised their price objective on shares of Tetra Tech from $41.00 to $43.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Three equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $41.00.

Insider Buying and Selling at Tetra Tech

In other news, Director Gary Birkenbeuel sold 2,390 shares of Tetra Tech stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $36.00, for a total value of $86,040.00. Following the completion of the transaction, the director owned 37,725 shares in the company, valued at $1,358,100. This trade represents a 5.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.40% of the stock is owned by insiders.

Tetra Tech Price Performance

TTEK opened at $32.80 on Friday. The company has a market capitalization of $8.62 billion, a price-to-earnings ratio of 41.00 and a beta of 0.94. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.50. The firm has a 50-day moving average price of $35.30 and a 200-day moving average price of $34.66. Tetra Tech, Inc. has a twelve month low of $27.27 and a twelve month high of $51.20.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last posted its earnings results on Wednesday, July 30th. The industrial products company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.06. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.15 billion. Tetra Tech had a net margin of 3.94% and a return on equity of 24.70%. The company's revenue was up 1.9% on a year-over-year basis. During the same quarter last year, the company earned $1.59 earnings per share. Tetra Tech has set its FY 2025 guidance at 1.490-1.540 EPS. Q4 2025 guidance at 0.380-0.430 EPS. Equities analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were paid a $0.065 dividend. The ex-dividend date was Friday, August 15th. This represents a $0.26 annualized dividend and a dividend yield of 0.8%. Tetra Tech's dividend payout ratio (DPR) is presently 32.50%.

Tetra Tech Profile

Tetra Tech, Inc provides consulting and engineering services in the United States and internationally. The company operates through two segments, Government Services Group (GSG) and Commercial/International Services Group (CIG). The GSG segment offers early data collection and monitoring, data analysis and information management, science and engineering applied research, engineering design, project management, and operations and maintenance services; and climate change and energy management consulting, as well as greenhouse gas inventory assessment, certification, reduction, and management services.

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