Tetra Tech, Inc. $TTEK Shares Sold by Freedom Investment Management Inc.

Key Points

• Freedom Investment Management Inc. reduced its stake in Tetra Tech, Inc. by 55.6%, selling 14,928 shares and bringing its total holdings to 11,905 shares valued at approximately $348,000.
• Several institutional investors, including Vanguard Group Inc., increased their positions in Tetra Tech, with Vanguard acquiring an additional 1,273,692 shares to reach a total of 27,185,795 shares worth about $795 million.
• Analysts' ratings on Tetra Tech have shifted, with Wall Street Zen upgrading it to a "buy" rating and a consensus price target of $41.67, indicating optimism about the stock's future performance.

Freedom Investment Management Inc. lessened its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 55.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,905 shares of the industrial products company's stock after selling 14,928 shares during the quarter. Freedom Investment Management Inc.'s holdings in Tetra Tech were worth $348,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Sarasin & Partners LLP bought a new stake in shares of Tetra Tech in the first quarter worth $144,799,000. Jacobs Levy Equity Management Inc. grew its holdings in Tetra Tech by 814.2% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,267,296 shares of the industrial products company's stock worth $90,329,000 after acquiring an additional 2,019,295 shares in the last quarter. LGT Group Foundation grew its holdings in Tetra Tech by 124.2% during the 1st quarter. LGT Group Foundation now owns 2,734,057 shares of the industrial products company's stock worth $79,971,000 after acquiring an additional 1,514,583 shares in the last quarter. Bain Capital Public Equity Management II LLC increased its position in shares of Tetra Tech by 149.5% in the 4th quarter. Bain Capital Public Equity Management II LLC now owns 2,409,928 shares of the industrial products company's stock worth $96,012,000 after purchasing an additional 1,443,939 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in shares of Tetra Tech by 4.9% in the 1st quarter. Vanguard Group Inc. now owns 27,185,795 shares of the industrial products company's stock valued at $795,185,000 after purchasing an additional 1,273,692 shares in the last quarter. 93.89% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Tetra Tech

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 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. The trade was a 5.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.40% of the company's stock.

Tetra Tech Price Performance

NASDAQ TTEK remained flat at $36.42 during trading hours on Tuesday. The company's stock had a trading volume of 1,693,564 shares, compared to its average volume of 1,825,298. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.50. The company has a market cap of $9.57 billion, a price-to-earnings ratio of 45.53 and a beta of 0.93. Tetra Tech, Inc. has a 1 year low of $27.27 and a 1 year high of $51.20. The business has a fifty day moving average of $36.74 and a two-hundred day moving average of $33.55.

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 (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the company posted $1.59 earnings per share. The company's revenue for the quarter 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. Equities analysts forecast that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Announces Dividend

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

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. KeyCorp boosted their price objective on 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 upgraded Tetra Tech from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Finally, Robert W. Baird boosted their price target on Tetra Tech from $31.00 to $33.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Two research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.