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

A number of other hedge funds also recently bought and sold shares of TTEK. Chilton Capital Management LLC bought a new position in Tetra Tech during the first quarter valued at $25,000. Baillie Gifford & Co. bought a new position in Tetra Tech during the first quarter valued at $27,000. Caption Management LLC bought a new position in Tetra Tech during the fourth quarter valued at $40,000. Caitong International Asset Management Co. Ltd increased its position in Tetra Tech by 283.9% during the first quarter. Caitong International Asset Management Co. Ltd now owns 1,547 shares of the industrial products company's stock valued at $45,000 after acquiring an additional 1,144 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its position in Tetra Tech by 734.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 1,685 shares of the industrial products company's stock valued at $49,000 after acquiring an additional 1,483 shares during the last quarter. Hedge funds and other institutional investors own 93.89% of the company's stock.

Tetra Tech Stock Down 1.5%

Tetra Tech stock traded down $0.55 during midday trading on Friday, hitting $36.36. 371,626 shares of the company's stock were exchanged, compared to its average volume of 2,396,087. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.18 and a current ratio of 1.18. Tetra Tech, Inc. has a 12 month low of $27.27 and a 12 month high of $51.20. The firm has a 50-day moving average of $36.68 and a two-hundred day moving average of $33.43. The company has a market cap of $9.55 billion, a PE ratio of 45.58 and a beta of 0.92.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last issued its earnings results on Wednesday, July 30th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.37 by $0.06. Tetra Tech had a net margin of 3.94% and a return on equity of 24.70%. The company had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.15 billion. During the same period in the prior year, the business earned $1.59 EPS. The firm's quarterly 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. As a group, analysts expect 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 will be paid on Friday, August 29th. Shareholders of record on Friday, August 15th will be issued a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, August 15th. Tetra Tech's dividend payout ratio is presently 32.50%.

Insider Transactions at Tetra Tech

In other Tetra Tech news, Director Gary Birkenbeuel sold 2,390 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $36.00, for a total transaction of $86,040.00. Following the transaction, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

Tetra Tech 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.