J. Safra Sarasin Holding AG Reduces Stake 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 lessened its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 32.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (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 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Sarasin & Partners LLP bought a new position in Tetra Tech in the 1st quarter worth about $144,799,000. Jacobs Levy Equity Management Inc. raised its holdings in Tetra Tech by 814.2% during the fourth 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 acquiring an additional 2,019,295 shares during the period. Bain Capital Public Equity Management II LLC boosted its holdings in shares of Tetra Tech by 149.5% during 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 purchasing an additional 1,443,939 shares during the last quarter. Van Berkom & Associates Inc. purchased a new position in shares of Tetra Tech in the 1st quarter worth $32,816,000. Finally, Capital International Investors purchased a new stake in shares of Tetra Tech during the 4th quarter valued at about $43,895,000. Hedge funds and other institutional investors own 93.89% of the company's stock.

Tetra Tech Trading Down 0.3%

Shares of NASDAQ TTEK traded down $0.10 during trading hours on Wednesday, reaching $37.27. The stock had a trading volume of 3,141,753 shares, compared to its average volume of 2,474,020. Tetra Tech, Inc. has a 52-week low of $27.27 and a 52-week high of $51.20. The firm has a market cap of $9.79 billion, a price-to-earnings ratio of 46.59 and a beta of 0.92. The business's fifty day moving average price is $36.32 and its two-hundred day moving average price is $33.49. 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 issued its 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 in the prior year, the business earned $1.59 EPS. The firm's quarterly revenue was up 1.9% on a year-over-year basis. Analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.7%. Tetra Tech's payout ratio is presently 32.50%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the company. KeyCorp raised their price objective on Tetra Tech from $41.00 to $43.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Wall Street Zen upgraded Tetra Tech from a "hold" rating to a "buy" rating in a research report on Saturday. Finally, Robert W. Baird increased their target price on shares of Tetra Tech from $31.00 to $33.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $41.67.

Tetra Tech 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.