Corebridge Financial Inc. Sells 6,900 Shares of Tetra Tech, Inc. $TTEK

Key Points

• Corebridge Financial Inc. reduced its holdings in Tetra Tech, Inc. by 2.3%, selling 6,900 shares and now owning 296,678 shares valued at approximately $8.68 million.
• Tetra Tech's stock was down 0.2%, with a market cap of $9.70 billion and a P/E ratio of 46.14, while several analysts have recently upgraded their ratings on the stock.
• The company announced a quarterly dividend of $0.065 to be paid on August 29th, with a dividend yield of 0.7% and a payout ratio of 32.50%.

Corebridge Financial Inc. reduced its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 2.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 296,678 shares of the industrial products company's stock after selling 6,900 shares during the period. Corebridge Financial Inc. owned approximately 0.11% of Tetra Tech worth $8,678,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Chilton Capital Management LLC acquired a new position in Tetra Tech during the first quarter valued at approximately $25,000. Baillie Gifford & Co. acquired a new position in Tetra Tech during the first quarter valued at approximately $27,000. Caption Management LLC acquired a new position in Tetra Tech during the fourth quarter valued at approximately $40,000. SVB Wealth LLC acquired a new position in Tetra Tech during the first quarter valued at approximately $36,000. Finally, Caitong International Asset Management Co. Ltd raised 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 purchasing an additional 1,144 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Tetra Tech Trading Down 2.3%

Shares of Tetra Tech stock traded down $0.82 during trading on Wednesday, hitting $35.60. The company's stock had a trading volume of 835,258 shares, compared to its average volume of 2,395,296. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.18 and a quick ratio of 1.18. Tetra Tech, Inc. has a 52 week low of $27.27 and a 52 week high of $51.20. The stock has a market cap of $9.35 billion, a price-to-earnings ratio of 44.50 and a beta of 0.93. The stock has a 50-day moving average price of $36.74 and a two-hundred day moving average price of $33.55.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.06. The company had revenue of $1.15 billion for 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%. Tetra Tech's revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.59 earnings per share. 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 fiscal year.

Tetra Tech Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a dividend of $0.065 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.26 dividend on an annualized basis and a yield of 0.7%. Tetra Tech's dividend payout ratio is 32.50%.

Analyst Ratings Changes

Several brokerages have commented on TTEK. 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 research 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 investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $41.67.

Insider Buying and Selling

In other Tetra Tech news, Director Gary Birkenbeuel sold 2,390 shares of the company's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $36.00, for a total transaction of $86,040.00. Following the sale, the director owned 37,725 shares of the company's stock, valued at approximately $1,358,100. This represents a 5.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.40% of the company's stock.

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.