Freedom Investment Management Inc. Decreases Position in Tetra Tech, Inc. $TTEK

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. lowered its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 55.6% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. 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.

Several other institutional investors and hedge funds have also recently made changes to their positions in TTEK. Chilton Capital Management LLC purchased a new position in Tetra Tech in the 1st quarter worth $25,000. Baillie Gifford & Co. purchased a new position in Tetra Tech in the 1st quarter worth $27,000. SVB Wealth LLC purchased a new position in Tetra Tech in the 1st quarter worth $36,000. Caption Management LLC purchased a new position in Tetra Tech in the 4th quarter worth $40,000. Finally, Caitong International Asset Management Co. Ltd raised its position in Tetra Tech by 283.9% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,547 shares of the industrial products company's stock worth $45,000 after purchasing an additional 1,144 shares during the period. Hedge funds and other institutional investors own 93.89% of the company's stock.

Insider Transactions at Tetra Tech

In related news, Director Gary Birkenbeuel sold 2,390 shares of Tetra Tech 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 completion of the transaction, the director directly owned 37,725 shares of the company's stock, valued at $1,358,100. This trade represents a 5.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.40% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on TTEK shares. KeyCorp raised their price target on shares of Tetra Tech from $41.00 to $43.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Wall Street Zen raised shares of Tetra Tech from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, Robert W. Baird raised 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 issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $41.67.

Tetra Tech Trading Down 1.3%

Shares of TTEK traded down $0.49 during trading hours on Friday, reaching $36.42. 2,744,867 shares of the company traded hands, compared to its average volume of 1,927,587. The company's fifty day moving average price is $36.70 and its two-hundred day moving average price is $33.47. The company has a market capitalization of $9.57 billion, a price-to-earnings ratio of 45.53 and a beta of 0.92. 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 12 month low of $27.27 and a 12 month high of $51.20.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last announced its earnings results on Wednesday, July 30th. The industrial products company reported $0.43 earnings per share for the quarter, beating analysts' consensus estimates of $0.37 by $0.06. Tetra Tech had a net margin of 3.94% and a return on equity of 24.70%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the firm posted $1.59 EPS. 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 research analysts predict that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Announces Dividend

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