BI Asset Management Fondsmaeglerselskab A S Lowers Stake in Tetra Tech, Inc. $TTEK

Key Points

• BI Asset Management Fondsmaeglerselskab A S has reduced its stake in Tetra Tech, Inc. by 63.6% in the first quarter, now holding only 9,626 shares valued at $282,000.
• Multiple institutional investors have adjusted their positions in Tetra Tech, with Vanguard Group Inc. increasing its holdings by 4.9% to 27,185,795 shares, worth approximately $795 million.
• Tetra Tech has declared a quarterly dividend of $0.065 per share, reflecting an annualized yield of 0.7% and a payout ratio of 32.50%.

BI Asset Management Fondsmaeglerselskab A S decreased its stake in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 63.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,626 shares of the industrial products company's stock after selling 16,846 shares during the period. BI Asset Management Fondsmaeglerselskab A S's holdings in Tetra Tech were worth $282,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in TTEK. Chilton Capital Management LLC bought a new position in shares of Tetra Tech in the 1st quarter worth $25,000. Baillie Gifford & Co. bought a new position in shares of Tetra Tech during the 1st quarter valued at $27,000. Caption Management LLC bought a new position in shares of Tetra Tech during the 4th quarter valued at $40,000. Caitong International Asset Management Co. Ltd grew 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 valued at $45,000 after purchasing an additional 1,144 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew 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 valued at $49,000 after purchasing an additional 1,483 shares during the last quarter. Institutional investors own 93.89% of the company's stock.

Insider Activity at Tetra Tech

In other news, Director Gary Birkenbeuel sold 2,390 shares of the firm's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $36.00, for a total value of $86,040.00. Following the completion of the sale, the director directly owned 37,725 shares of the company's stock, valued at approximately $1,358,100. This trade represents a 5.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.40% of the company's stock.

Analysts Set New Price Targets

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

Tetra Tech Trading Down 0.6%

TTEK traded down $0.21 during trading on Thursday, hitting $36.77. 1,679,014 shares of the stock traded hands, compared to its average volume of 2,404,150. The firm has a market capitalization of $9.66 billion, a P/E ratio of 45.98 and a beta of 0.92. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a 50-day moving average of $36.65 and a 200 day moving average of $33.40. Tetra Tech, Inc. has a 12-month low of $27.27 and a 12-month high of $51.20.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last announced its quarterly 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 business had revenue of $1.15 billion during the quarter, compared to analysts' expectations 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 for the quarter was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company 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 research analysts anticipate that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be given a $0.065 dividend. This represents a $0.26 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, August 15th. Tetra Tech's dividend payout ratio (DPR) is currently 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.