Ameriprise Financial Inc. Purchases 656,872 Shares of Tetra Tech, Inc. $TTEK

Key Points

• Ameriprise Financial Inc. increased its stake in Tetra Tech, Inc. by 75.8% in the first quarter, owning approximately $44.57 million worth of shares.
• Analysts have upgraded Tetra Tech's stock ratings, with price targets adjusted to between $33.00 and $43.00, reflecting a consensus opinion of a "Moderate Buy."
• Tetra Tech recently reported earnings of $0.43 per share, exceeding estimates and indicating a 1.9% year-over-year revenue growth, alongside a forecast for FY 2025 earnings guidance.

Ameriprise Financial Inc. grew its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 75.8% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,523,809 shares of the industrial products company's stock after acquiring an additional 656,872 shares during the quarter. Ameriprise Financial Inc. owned about 0.57% of Tetra Tech worth $44,571,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of TTEK. Chilton Capital Management LLC bought a new stake in Tetra Tech during the first quarter valued at approximately $25,000. Baillie Gifford & Co. bought a new stake in shares of Tetra Tech during the 1st quarter worth $27,000. Caption Management LLC bought a new stake in shares of Tetra Tech during the 4th quarter worth $40,000. Caitong International Asset Management Co. Ltd lifted its holdings in shares of Tetra Tech by 283.9% during the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,547 shares of the industrial products company's stock worth $45,000 after acquiring an additional 1,144 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Tetra Tech by 734.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,685 shares of the industrial products company's stock worth $49,000 after acquiring an additional 1,483 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on TTEK. Robert W. Baird lifted their price target on Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. KeyCorp boosted their target price on Tetra Tech from $41.00 to $43.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. Finally, Wall Street Zen upgraded Tetra Tech from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $41.67.

Tetra Tech Trading Down 1.3%

Shares of NASDAQ TTEK traded down $0.46 during midday trading on Wednesday, reaching $35.96. The company had a trading volume of 2,490,722 shares, compared to its average volume of 1,825,298. Tetra Tech, Inc. has a one year low of $27.27 and a one year high of $51.20. 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's fifty day moving average price is $36.73 and its 200-day moving average price is $33.57. The stock has a market cap of $9.45 billion, a PE ratio of 44.95 and a beta of 0.93.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.06. Tetra Tech had a return on equity of 24.70% and a net margin of 3.94%.The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the company posted $1.59 earnings per share. The business's revenue was up 1.9% on a year-over-year basis. 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, equities research analysts anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were issued a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date was Friday, August 15th. Tetra Tech's dividend payout ratio is currently 32.50%.

Insider Buying and Selling

In related news, Director Gary Birkenbeuel sold 2,390 shares of the company's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $36.00, for a total transaction of $86,040.00. Following the completion of the sale, the director directly owned 37,725 shares in the company, valued at $1,358,100. This represents a 5.96% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.40% of the stock is owned by corporate insiders.

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.