Caxton Associates LLP Purchases New Position in Tetra Tech, Inc. $TTEK

Key Points

• Caxton Associates LLP invested approximately $867,000 to acquire 29,642 shares of Tetra Tech, Inc. ($TTEK) in the first quarter.
• Analysts have set a consensus target price of $41.67 for Tetra Tech, with ratings leaning towards an "overweight" and "buy" from notable firms.
• Tetra Tech recently reported earnings of $0.43 per share, surpassing the expected $0.37, alongside a revenue of $1.15 billion, indicating a year-over-year growth of 1.9%.

Caxton Associates LLP acquired a new stake in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 29,642 shares of the industrial products company's stock, valued at approximately $867,000.

Several other hedge funds also recently bought and sold shares of the company. Chilton Capital Management LLC purchased a new stake in Tetra Tech in the 1st quarter worth approximately $25,000. Baillie Gifford & Co. bought a new position in shares of Tetra Tech in the first quarter worth $27,000. SVB Wealth LLC purchased a new stake in shares of Tetra Tech in the first quarter worth $36,000. Caitong International Asset Management Co. Ltd boosted its stake 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 buying an additional 1,144 shares during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its stake 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 buying an additional 1,483 shares during the period. Hedge funds and other institutional investors own 93.89% of the company's stock.

Insider Buying and Selling

In other news, Director Gary Birkenbeuel sold 2,390 shares of Tetra Tech stock in a transaction that occurred on Thursday, August 14th. The stock was sold at an average price of $36.00, for a total value of $86,040.00. Following the sale, the director directly owned 37,725 shares in the company, valued at approximately $1,358,100. This trade represents a 5.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.40% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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

Tetra Tech Trading Down 0.1%

Shares of Tetra Tech stock traded down $0.05 during trading on Friday, reaching $36.14. The company's stock had a trading volume of 1,229,449 shares, compared to its average volume of 1,964,097. The company has a quick ratio of 1.18, a current 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 firm's 50-day moving average is $36.71 and its two-hundred day moving average is $33.86. The company has a market cap of $9.50 billion, a price-to-earnings ratio of 45.18 and a beta of 0.93.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $0.43 EPS for the quarter, topping 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 the consensus estimate of $1.15 billion. During the same quarter in the previous year, the business earned $1.59 earnings per share. The company'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. On average, sell-side analysts anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were paid 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 was Friday, August 15th. Tetra Tech's payout ratio is presently 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.