Tetra Tech, Inc. $TTEK Holdings Boosted by Ameriprise Financial Inc.

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. boosted its stake in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 75.8% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,523,809 shares of the industrial products company's stock after buying an additional 656,872 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.57% of Tetra Tech worth $44,571,000 as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in TTEK. Sarasin & Partners LLP purchased a new position in shares of Tetra Tech during the 1st quarter worth $144,799,000. Jacobs Levy Equity Management Inc. raised its position in shares of Tetra Tech by 814.2% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,267,296 shares of the industrial products company's stock worth $90,329,000 after buying an additional 2,019,295 shares during the period. LGT Group Foundation raised its position in shares of Tetra Tech by 124.2% in the 1st quarter. LGT Group Foundation now owns 2,734,057 shares of the industrial products company's stock worth $79,971,000 after buying an additional 1,514,583 shares during the period. Bain Capital Public Equity Management II LLC raised its position in shares of Tetra Tech by 149.5% in the 4th quarter. Bain Capital Public Equity Management II LLC now owns 2,409,928 shares of the industrial products company's stock worth $96,012,000 after buying an additional 1,443,939 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Tetra Tech by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 27,185,795 shares of the industrial products company's stock worth $795,185,000 after buying an additional 1,273,692 shares during the period. Hedge funds and other institutional investors own 93.89% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Wall Street Zen raised Tetra Tech from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Robert W. Baird increased their price target on Tetra Tech from $31.00 to $33.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Finally, KeyCorp increased their price target on Tetra Tech from $41.00 to $43.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Tetra Tech has a consensus rating of "Moderate Buy" and an average price target of $41.67.

Insider Buying and Selling

In related news, Director Gary Birkenbeuel sold 2,390 shares of Tetra Tech stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $36.00, for a total value of $86,040.00. Following the completion of the transaction, the director directly owned 37,725 shares in the company, valued at approximately $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 accessible through this link. Company insiders own 0.40% of the company's stock.

Tetra Tech Stock Down 1.3%

Shares of Tetra Tech stock traded down $0.49 during trading hours on Friday, hitting $36.42. 2,744,867 shares of the company's stock traded hands, compared to its average volume of 1,936,578. The stock has a 50 day simple moving average of $36.70 and a 200-day simple moving average of $33.49. 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 company has a market cap of $9.57 billion, a PE ratio of 45.53 and a beta of 0.93. 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 announced its earnings results 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. The company had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.15 billion. Tetra Tech had a return on equity of 24.70% and a net margin of 3.94%.The company's revenue was up 1.9% on a year-over-year basis. During the same period last year, the firm 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 research analysts anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal 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 dividend of $0.065 per share. The ex-dividend date was Friday, August 15th. This represents a $0.26 annualized dividend and a dividend yield of 0.7%. Tetra Tech's dividend payout ratio (DPR) is currently 32.50%.

Tetra Tech Company 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.