Allspring Global Investments Holdings LLC Purchases 57,236 Shares of Tetra Tech, Inc. $TTEK

Key Points

• Allspring Global Investments Holdings LLC increased its position in Tetra Tech, Inc. by 6.2% in the second quarter, acquiring an additional 57,236 shares, bringing its total holdings to 980,311 shares valued at approximately $35.4 million.
• Brokerages have differing views on Tetra Tech's stock, with ratings ranging from "outperform" to "hold," and an average price target of $41.00.
• Tetra Tech declared a quarterly dividend of $0.065 per share, equating to an annualized yield of 0.8%, with a payout ratio of 32.5%.

Allspring Global Investments Holdings LLC raised its position in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 6.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 980,311 shares of the industrial products company's stock after buying an additional 57,236 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.37% of Tetra Tech worth $35,389,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. LGT Group Foundation grew its holdings in shares of Tetra Tech by 124.2% during the 1st quarter. LGT Group Foundation now owns 2,734,057 shares of the industrial products company's stock valued at $79,971,000 after purchasing an additional 1,514,583 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Tetra Tech by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 27,185,795 shares of the industrial products company's stock valued at $795,185,000 after purchasing an additional 1,273,692 shares during the last quarter. Van Berkom & Associates Inc. bought a new stake in shares of Tetra Tech during the 1st quarter valued at approximately $32,816,000. Goldman Sachs Group Inc. grew its holdings in shares of Tetra Tech by 136.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,658,349 shares of the industrial products company's stock valued at $48,507,000 after purchasing an additional 957,050 shares during the last quarter. Finally, Robeco Schweiz AG grew its holdings in shares of Tetra Tech by 30.3% during the 1st quarter. Robeco Schweiz AG now owns 3,192,116 shares of the industrial products company's stock valued at $93,369,000 after purchasing an additional 742,241 shares during the last quarter. 93.89% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on TTEK. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Tetra Tech in a report on Wednesday, October 8th. Northcoast Research reaffirmed a "neutral" rating on shares of Tetra Tech in a report on Wednesday, October 1st. Royal Bank Of Canada set a $47.00 price target on shares of Tetra Tech and gave the company an "outperform" rating in a report on Monday, September 29th. National Bank Financial started coverage on shares of Tetra Tech in a report on Wednesday, October 8th. They set an "outperform" rating and a $41.00 price target on the stock. Finally, Wall Street Zen downgraded shares of Tetra Tech from a "buy" rating to a "hold" rating in a research report on Friday, October 3rd. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $41.00.

Insider Activity

In other news, Director Gary Birkenbeuel sold 2,390 shares of the business's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $36.00, for a total value of $86,040.00. Following the transaction, the director owned 37,725 shares in the company, valued at approximately $1,358,100. The trade was a 5.96% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.40% of the company's stock.

Tetra Tech Stock Down 2.5%

NASDAQ:TTEK opened at $32.50 on Thursday. The firm's 50 day simple moving average is $35.39 and its 200 day simple moving average is $34.64. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.18 and a quick ratio of 1.18. Tetra Tech, Inc. has a one year low of $27.27 and a one year high of $51.20. The company has a market cap of $8.54 billion, a PE ratio of 40.63 and a beta of 0.94.

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

Tetra Tech Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Stockholders of record on Friday, August 15th were given a $0.065 dividend. The ex-dividend date was Friday, August 15th. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.8%. Tetra Tech's payout ratio is 32.50%.

About Tetra Tech

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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