Hsbc Holdings PLC Sells 158,566 Shares of Tetra Tech, Inc. $TTEK

Key Points

• Hsbc Holdings PLC reduced its Tetra Tech stake by 26.9% in the first quarter, selling 158,566 shares and leaving it with 430,972 shares worth about $13 million.
• Analyst sentiment remains mixed but constructive: Tetra Tech has a Moderate Buy consensus rating, though some firms recently lowered price targets and one downgraded the stock to hold.
• The company reported better-than-expected quarterly results, with EPS of $0.34 versus $0.31 expected and revenue of $1.22 billion, while also raising its quarterly dividend slightly to $0.072 per share.

Hsbc Holdings PLC cut its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 26.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 430,972 shares of the industrial products company's stock after selling 158,566 shares during the period. Hsbc Holdings PLC owned about 0.17% of Tetra Tech worth $12,993,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Tetra Tech during the fourth quarter valued at about $115,162,000. Impax Asset Management Group plc bought a new stake in Tetra Tech in the 4th quarter worth about $107,603,000. AQR Capital Management LLC increased its stake in Tetra Tech by 351.6% in the 4th quarter. AQR Capital Management LLC now owns 2,875,372 shares of the industrial products company's stock valued at $96,440,000 after buying an additional 2,238,721 shares during the last quarter. Capital International Investors increased its stake in Tetra Tech by 27.4% in the 4th quarter. Capital International Investors now owns 9,016,577 shares of the industrial products company's stock valued at $302,416,000 after buying an additional 1,936,902 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its position in shares of Tetra Tech by 84.9% during the 2nd quarter. Corient Private Wealth LLC now owns 4,021,788 shares of the industrial products company's stock worth $147,095,000 after buying an additional 1,847,087 shares in the last quarter. 93.89% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

TTEK has been the topic of a number of research analyst reports. Wall Street Zen downgraded Tetra Tech from a "buy" rating to a "hold" rating in a research note on Sunday, July 12th. Royal Bank Of Canada dropped their price target on Tetra Tech from $48.00 to $43.00 and set an "outperform" rating on the stock in a report on Wednesday. Robert W. Baird set a $35.00 price objective on Tetra Tech in a research report on Thursday, April 30th. National Bank Financial reduced their price objective on Tetra Tech from $38.00 to $35.00 and set an "outperform" rating for the company in a research note on Monday, July 13th. Finally, Weiss Ratings lowered Tetra Tech from a "hold (c)" rating to a "hold (c-)" rating in a research report on Thursday, June 4th. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, Tetra Tech has a consensus rating of "Moderate Buy" and an average target price of $38.80.

Insider Transactions at Tetra Tech

In other Tetra Tech news, Director Jeffrey R. Feeler acquired 1,900 shares of the company's stock in a transaction on Friday, May 15th. The shares were acquired at an average cost of $26.41 per share, with a total value of $50,179.00. Following the completion of the acquisition, the director directly owned 1,900 shares in the company, valued at $50,179. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.49% of the company's stock.

Tetra Tech Stock Up 1.5%

Tetra Tech stock opened at $30.98 on Thursday. The firm has a 50 day moving average price of $28.76 and a 200-day moving average price of $32.16. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.47. Tetra Tech, Inc. has a twelve month low of $25.81 and a twelve month high of $43.14. The company has a market capitalization of $8.04 billion, a P/E ratio of 18.55 and a beta of 0.92.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last posted its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $0.34 EPS for the quarter, topping analysts' consensus estimates of $0.31 by $0.03. Tetra Tech had a net margin of 8.58% and a return on equity of 22.89%. The company had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1 billion. During the same quarter in the previous year, the firm posted $0.33 EPS. Tetra Tech's revenue was down 7.7% on a year-over-year basis. Tetra Tech has set its FY 2026 guidance at 1.500-1.580 EPS and its Q3 2026 guidance at 0.38-0.41 EPS. As a group, equities analysts predict that Tetra Tech, Inc. will post 1.54 EPS for the current year.

Tetra Tech Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Investors of record on Thursday, May 14th were paid a $0.072 dividend. The ex-dividend date was Thursday, May 14th. This represents a $0.29 dividend on an annualized basis and a yield of 0.9%. This is an increase from Tetra Tech's previous quarterly dividend of $0.07. Tetra Tech's dividend payout ratio (DPR) is presently 17.37%.

Tetra Tech Company Profile

Tetra Tech, Inc is a leading provider of consulting and engineering services with a focus on water, environment, infrastructure, resource management and energy sectors. Headquartered in Pasadena, California, the company delivers end-to-end solutions that encompass planning, design, engineering, program management and construction management. Tetra Tech's multidisciplinary teams integrate science, technology and advisory services to address complex challenges in areas such as water resources, environmental remediation, sustainable infrastructure and renewable energy.

The company's core offerings include environmental assessments and cleanup, water treatment and reuse, coastal and marine engineering, climate resilience planning, and engineering design for transportation and built environments.

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