Bank of America Corp DE Makes New $57.13 Million Investment in Tetra Tech, Inc. $TTEK

Key Points

• Bank of America initiated a $57.1 million position in Tetra Tech during the second quarter, acquiring 1.98 million shares, or approximately 0.77% of the company. Institutional investors and hedge funds collectively own 93.89% of Tetra Tech.
• Analysts maintain a generally positive view, with Tetra Tech receiving a “Moderate Buy” consensus rating and an average price target of $38.25, above its reported $35.69 share price.
• Tetra Tech exceeded quarterly earnings expectations, reporting $0.42 in EPS versus the $0.40 consensus and $1.31 billion in revenue, although revenue declined 4.4% year over year. The company also declared a quarterly dividend of $0.072 per share.

Bank of America Corp DE bought a new position in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,977,679 shares of the industrial products company's stock, valued at approximately $57,135,000. Bank of America Corp DE owned about 0.77% of Tetra Tech as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Systematic Financial Management LP grew its holdings in Tetra Tech by 56.5% during the 4th quarter. Systematic Financial Management LP now owns 286,772 shares of the industrial products company's stock worth $9,618,000 after acquiring an additional 103,582 shares during the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Tetra Tech by 8.1% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 992,633 shares of the industrial products company's stock worth $33,293,000 after acquiring an additional 74,530 shares during the last quarter. Nicola Wealth Management LTD. acquired a new position in shares of Tetra Tech during the fourth quarter worth approximately $12,242,000. Dimensional Fund Advisors LP lifted its position in shares of Tetra Tech by 3.1% during the first quarter. Dimensional Fund Advisors LP now owns 3,789,240 shares of the industrial products company's stock worth $114,128,000 after purchasing an additional 112,560 shares in the last quarter. Finally, Neumeier Poma Investment Counsel LLC bought a new stake in shares of Tetra Tech during the second quarter valued at approximately $43,750,380. Institutional investors and hedge funds own 93.89% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on TTEK shares. National Bank Financial lowered their price target on shares of Tetra Tech from $38.00 to $35.00 and set an "outperform" rating for the company in a report on Monday, July 13th. Weiss Ratings raised Tetra Tech from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, August 7th. Royal Bank Of Canada decreased their price objective on Tetra Tech from $48.00 to $43.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 22nd. Robert W. Baird set a $37.00 target price on Tetra Tech in a research note on Thursday, July 30th. Finally, Wall Street Zen downgraded Tetra Tech from a "buy" rating to a "hold" rating in a research report on Saturday, August 22nd. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $38.25.

Tetra Tech Price Performance

NASDAQ:TTEK opened at $35.69 on Monday. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.43. Tetra Tech, Inc. has a 12-month low of $25.81 and a 12-month high of $43.14. The stock's fifty day simple moving average is $34.70 and its 200-day simple moving average is $31.70. The firm has a market capitalization of $9.14 billion, a P/E ratio of 21.50 and a beta of 0.90.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its quarterly earnings data on Wednesday, July 29th. The industrial products company reported $0.42 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.02. Tetra Tech had a return on equity of 22.32% and a net margin of 8.60%.The business had revenue of $1.31 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the company posted $0.43 earnings per share. The firm's revenue was down 4.4% on a year-over-year basis. Tetra Tech has set its Q4 2026 guidance at 0.450-0.480 EPS and its FY 2026 guidance at 1.560-1.590 EPS. Equities research analysts expect that Tetra Tech, Inc. will post 1.58 earnings per share for the current year.

Tetra Tech Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Stockholders of record on Thursday, August 13th were paid a $0.072 dividend. The ex-dividend date of this dividend was Thursday, August 13th. This represents a $0.29 dividend on an annualized basis and a dividend yield of 0.8%. Tetra Tech's dividend payout ratio is 17.47%.

Tetra Tech Company Profile

Tetra Tech, Inc NASDAQ: TTEK is a consulting and engineering services company that helps government and commercial clients address challenges involving water, the environment, infrastructure, energy and natural resources. Its services include planning, design, engineering, program and construction management, scientific consulting, data analysis and technology solutions.

The company works on projects such as water supply and treatment, environmental restoration, climate resilience, sustainable infrastructure, renewable energy, transportation and national security.

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