J. Safra Sarasin Holding AG Cuts Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Key Points

• J. Safra Sarasin Holding AG has reduced its stake in Tetra Tech, Inc. by 32.2%, selling 246,943 shares, and now owns 520,758 shares valued at approximately $15.2 million.
• Several hedge funds have increased their positions in Tetra Tech, with notable increases from Pictet Asset Management (up 3.5%) and Robeco Schweiz AG (up 30.3%).
• Tetra Tech recently reported an EPS of $0.43 for the last quarter, surpassing analysts' expectations, and announced a quarterly dividend of $0.065 per share.

J. Safra Sarasin Holding AG trimmed its stake in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 32.2% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 520,758 shares of the industrial products company's stock after selling 246,943 shares during the period. J. Safra Sarasin Holding AG owned about 0.19% of Tetra Tech worth $15,232,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the business. Sarasin & Partners LLP acquired a new position in Tetra Tech during the 1st quarter worth approximately $144,799,000. Jacobs Levy Equity Management Inc. boosted its holdings in shares of Tetra Tech by 814.2% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,267,296 shares of the industrial products company's stock valued at $90,329,000 after buying an additional 2,019,295 shares in the last quarter. Bain Capital Public Equity Management II LLC boosted its holdings 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 valued at $96,012,000 after buying an additional 1,443,939 shares in the last quarter. Van Berkom & Associates Inc. acquired a new position in shares of Tetra Tech in the 1st quarter valued at $32,816,000. Finally, Capital International Investors acquired a new stake in Tetra Tech during the 4th quarter worth $43,895,000. 93.89% of the stock is owned by hedge funds and other institutional investors.

Tetra Tech Price Performance

Shares of TTEK traded up $0.67 during trading hours on Monday, reaching $36.55. The company had a trading volume of 2,225,579 shares, compared to its average volume of 1,774,148. The company has a market capitalization of $9.63 billion, a price-to-earnings ratio of 45.69 and a beta of 0.92. Tetra Tech, Inc. has a 12-month low of $27.27 and a 12-month high of $51.20. The firm has a 50 day simple moving average of $36.30 and a 200-day simple moving average of $33.46. The company has a current ratio of 1.18, a quick ratio of 1.10 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 (EPS) for the quarter, topping 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 for the quarter, compared to analysts' expectations of $1.15 billion. During the same period last year, the company earned $1.59 EPS. The firm's revenue for the quarter was up 1.9% compared to the same quarter last year. Research analysts expect that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be given a $0.065 dividend. The ex-dividend date of this dividend is 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 currently 32.50%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on TTEK. Robert W. Baird increased their price target on shares of Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. KeyCorp upped their price objective on shares of Tetra Tech from $41.00 to $43.00 and gave the stock an "overweight" rating in a research report on Friday. Finally, Wall Street Zen upgraded shares of Tetra Tech from a "hold" rating to a "buy" rating in a research report on Saturday. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Tetra Tech currently has an average rating of "Moderate Buy" and an average price target 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.