Intech Investment Management LLC Sells 72,198 Shares of Tetra Tech, Inc. $TTEK

Key Points

• Intech Investment Management LLC has reduced its stake in Tetra Tech, Inc. by 42.5%, selling 72,198 shares in the 1st quarter, leaving it with 97,588 shares valued at approximately $2.85 million.
• Several institutional investors increased their holdings, with the largest being Cullen Frost Bankers Inc., which grew its stake by 30.9%.
• Tetra Tech's stock has received upgrades, moving from a "hold" to a "buy" rating, with an average price target of $41.67, suggesting positive analyst sentiment.

Intech Investment Management LLC decreased its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 42.5% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 97,588 shares of the industrial products company's stock after selling 72,198 shares during the quarter. Intech Investment Management LLC's holdings in Tetra Tech were worth $2,854,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Ethic Inc. grew its stake in shares of Tetra Tech by 1.2% during the 1st quarter. Ethic Inc. now owns 28,745 shares of the industrial products company's stock worth $849,000 after acquiring an additional 334 shares during the period. Fifth Third Bancorp grew its stake in shares of Tetra Tech by 9.7% during the 1st quarter. Fifth Third Bancorp now owns 5,351 shares of the industrial products company's stock worth $157,000 after acquiring an additional 475 shares during the period. TT International Asset Management LTD grew its stake in shares of Tetra Tech by 3.1% during the 1st quarter. TT International Asset Management LTD now owns 16,993 shares of the industrial products company's stock worth $497,000 after acquiring an additional 515 shares during the period. Cullen Frost Bankers Inc. grew its stake in shares of Tetra Tech by 30.9% during the 1st quarter. Cullen Frost Bankers Inc. now owns 2,335 shares of the industrial products company's stock worth $68,000 after acquiring an additional 551 shares during the period. Finally, Arkadios Wealth Advisors grew its stake in shares of Tetra Tech by 3.0% during the 1st quarter. Arkadios Wealth Advisors now owns 21,314 shares of the industrial products company's stock worth $623,000 after acquiring an additional 630 shares during the period. Institutional investors own 93.89% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Wall Street Zen upgraded Tetra Tech from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. KeyCorp increased their price objective on Tetra Tech from $41.00 to $43.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Tetra Tech presently has an average rating of "Moderate Buy" and an average price target of $41.67.

Tetra Tech Stock Performance

NASDAQ:TTEK opened at $36.14 on Monday. The business's 50-day moving average price is $36.71 and its two-hundred day moving average price is $33.89. Tetra Tech, Inc. has a twelve month low of $27.27 and a twelve month high of $51.20. The stock has a market cap of $9.50 billion, a P/E ratio of 45.18 and a beta of 0.93. 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 (NASDAQ:TTEK - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.43 earnings per share for the quarter, beating 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 analysts' expectations of $1.15 billion. During the same quarter last year, the firm posted $1.59 EPS. The company's revenue 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. As a group, equities analysts predict that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were issued a $0.065 dividend. The ex-dividend date of this dividend 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%.

Insider Buying and Selling at Tetra Tech

In other Tetra Tech news, Director Gary Birkenbeuel sold 2,390 shares of the firm's stock in a transaction dated 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 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.40% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding TTEK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Tetra Tech, Inc. (NASDAQ:TTEK - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.