Argent Capital Management LLC Grows Position in Tetra Tech, Inc. $TTEK

Key Points

• Argent Capital Management LLC significantly increased its stake in Tetra Tech, Inc. by 216.1%, acquiring a total of 62,521 shares valued at approximately $2.25 million by the end of Q2 2023.
• Tetra Tech recently declared a quarterly dividend of $0.065 per share, reflecting a dividend yield of 0.7% with a payout ratio of 32.50%.
• Analysts have generally upgraded Tetra Tech’s outlook, with a consensus rating of "Moderate Buy" and a price target increase to $41.67 following positive earnings results.

Argent Capital Management LLC grew its stake in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 216.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 62,521 shares of the industrial products company's stock after purchasing an additional 42,741 shares during the period. Argent Capital Management LLC's holdings in Tetra Tech were worth $2,248,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of TTEK. Praxis Investment Management Inc. acquired a new position in shares of Tetra Tech during the 1st quarter worth approximately $348,000. Cambridge Investment Research Advisors Inc. raised its stake in shares of Tetra Tech by 39.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 18,496 shares of the industrial products company's stock worth $541,000 after buying an additional 5,275 shares during the period. SG Americas Securities LLC raised its stake in shares of Tetra Tech by 259.3% during the 1st quarter. SG Americas Securities LLC now owns 46,406 shares of the industrial products company's stock worth $1,357,000 after buying an additional 33,491 shares during the period. Summit Trail Advisors LLC acquired a new position in shares of Tetra Tech during the 1st quarter worth approximately $590,000. Finally, FORA Capital LLC acquired a new position in shares of Tetra Tech during the 1st quarter worth approximately $442,000. Hedge funds and other institutional investors own 93.89% of the company's stock.

Insider Buying and Selling at Tetra Tech

In other news, Director Gary Birkenbeuel sold 2,390 shares of the stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $36.00, for a total transaction 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 represents a 5.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.40% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TTEK. Wall Street Zen raised Tetra Tech from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. KeyCorp upped their target price on Tetra Tech from $41.00 to $43.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $41.67.

Tetra Tech Stock Performance

NASDAQ TTEK opened at $35.22 on Tuesday. The stock has a market cap of $9.25 billion, a PE ratio of 44.03 and a beta of 0.93. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.50. Tetra Tech, Inc. has a twelve month low of $27.27 and a twelve month high of $51.20. The stock has a fifty day simple moving average of $36.65 and a 200-day simple moving average of $34.19.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.06. The business had revenue of $1.15 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the prior year, the business posted $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. Equities analysts anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Announces Dividend

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

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