Bowen Hanes & Co. Inc. Trims Stock Holdings in Tetra Tech, Inc. $TTEK

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Bowen Hanes & Co. Inc. lessened its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 8.4% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,855,675 shares of the industrial products company's stock after selling 170,195 shares during the quarter. Bowen Hanes & Co. Inc. owned about 0.69% of Tetra Tech worth $54,278,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of TTEK. Chilton Capital Management LLC bought a new stake in shares of Tetra Tech during the 1st quarter valued at about $25,000. Baillie Gifford & Co. bought a new stake in shares of Tetra Tech during the 1st quarter valued at about $27,000. Caption Management LLC bought a new stake in shares of Tetra Tech during the 4th quarter valued at about $40,000. Caitong International Asset Management Co. Ltd boosted its position 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 acquiring an additional 1,144 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position 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 acquiring an additional 1,483 shares during the last quarter. Institutional investors own 93.89% of the company's stock.

Tetra Tech Trading Up 2.8%

TTEK stock traded up $1.01 during midday trading on Friday, hitting $36.82. The company had a trading volume of 1,374,918 shares, compared to its average volume of 1,974,765. 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 52 week low of $27.27 and a 52 week high of $51.20. The stock's 50 day moving average price is $36.59 and its 200 day moving average price is $33.33. The stock has a market cap of $9.68 billion, a price-to-earnings ratio of 46.03 and a beta of 0.92.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last posted its earnings results on Wednesday, July 30th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.06. Tetra Tech had a return on equity of 24.70% and a net margin of 3.94%.The firm had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.15 billion. During the same period in the previous year, the firm earned $1.59 earnings per share. The business's revenue was up 1.9% compared to the same quarter last year. 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, equities research 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. Stockholders of record on Friday, August 15th will be paid a dividend of $0.065 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.26 annualized dividend and a dividend yield of 0.7%. Tetra Tech's payout ratio is 32.50%.

Insider Activity

In other news, Director Gary Birkenbeuel sold 2,390 shares of the business's stock in a transaction that occurred 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 transaction, the director directly owned 37,725 shares of the company's stock, valued at approximately $1,358,100. The trade was a 5.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.40% of the company's stock.

Wall Street Analyst Weigh In

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

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.