Lazard Freres Gestion S.A.S. Grows Holdings in Tetra Tech, Inc. $TTEK

Key Points

• Lazard Freres Gestion S.A.S. increased its stake in Tetra Tech, Inc. by 49% during Q2, acquiring a total of 25,830 shares valued at approximately $928,000.
• Several hedge funds have entered or increased their positions in Tetra Tech, leading to institutional ownership of 93.89% of the company's stock.
• Tetra Tech has reported a Q2 EPS of $0.43, exceeding estimates, while its quarterly revenue reflects a 1.9% year-over-year increase.

Lazard Freres Gestion S.A.S. grew its stake in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 49.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,830 shares of the industrial products company's stock after buying an additional 8,500 shares during the period. Lazard Freres Gestion S.A.S.'s holdings in Tetra Tech were worth $928,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Chilton Capital Management LLC purchased a new position in Tetra Tech in the 1st quarter worth approximately $25,000. Baillie Gifford & Co. purchased a new stake in shares of Tetra Tech in the 1st quarter valued at $27,000. Central Pacific Bank Trust Division purchased a new stake in shares of Tetra Tech in the 2nd quarter valued at $32,000. SVB Wealth LLC purchased a new stake in shares of Tetra Tech in the 1st quarter valued at $36,000. Finally, Geneos Wealth Management Inc. boosted its stake in shares of Tetra Tech by 136.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,303 shares of the industrial products company's stock valued at $38,000 after purchasing an additional 751 shares in the last quarter. Hedge funds and other institutional investors own 93.89% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen cut shares of Tetra Tech from a "buy" rating to a "hold" rating in a research note on Friday, October 3rd. Weiss Ratings reiterated a "hold (c)" rating on shares of Tetra Tech in a report on Wednesday, October 8th. National Bank Financial assumed coverage on shares of Tetra Tech in a report on Wednesday, October 8th. They set an "outperform" rating and a $41.00 price target for the company. 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 report on Friday, August 1st. Finally, Northcoast Research restated a "neutral" rating on shares of Tetra Tech in a report on Wednesday, October 1st. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $41.00.

Tetra Tech Stock Up 2.1%

Shares of Tetra Tech stock opened at $33.76 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.18 and a quick ratio of 1.18. The company has a 50-day moving average of $34.97 and a 200 day moving average of $34.79. The firm has a market cap of $8.87 billion, a price-to-earnings ratio of 42.20 and a beta of 0.94. Tetra Tech, Inc. has a 1 year low of $27.27 and a 1 year high of $51.20.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last issued 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. The company had revenue of $1.15 billion during the quarter, compared to analyst estimates of $1.15 billion. Tetra Tech had a net margin of 3.94% and a return on equity of 24.70%. Tetra Tech's quarterly revenue was up 1.9% compared to the same quarter last year. During the same period last year, the business earned $1.59 EPS. 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, sell-side analysts anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were paid a $0.065 dividend. This represents a $0.26 annualized dividend and a dividend yield of 0.8%. The ex-dividend date was Friday, August 15th. Tetra Tech's dividend payout ratio (DPR) is presently 32.50%.

Insider Activity

In related news, Director Gary Birkenbeuel sold 2,390 shares of the stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $36.00, for a total value of $86,040.00. Following the completion of the transaction, the director directly owned 37,725 shares in the company, 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 Securities & Exchange Commission, which is available through this hyperlink. 0.40% of the stock is currently owned by insiders.

About Tetra Tech

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.

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