Legal & General Group Plc Sells 39,979 Shares of Tetra Tech, Inc. $TTEK

Key Points

• Legal & General Group Plc cut its Tetra Tech stake by 9.4% in the fourth quarter, selling 39,979 shares and leaving it with 383,220 shares worth about $12.85 million.
• Tetra Tech reported better-than-expected quarterly results, with EPS of $0.34 versus $0.31 expected and revenue of $1.22 billion versus $1 billion estimated, though revenue still fell 7.7% year over year.
• The company raised its quarterly dividend to $0.072 per share and maintained a modest payout ratio of 17.37%, while analysts currently rate the stock a Moderate Buy with a $41 consensus target price.

Legal & General Group Plc decreased its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 9.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 383,220 shares of the industrial products company's stock after selling 39,979 shares during the quarter. Legal & General Group Plc owned about 0.15% of Tetra Tech worth $12,853,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. First Horizon Corp boosted its stake in Tetra Tech by 50.4% during the fourth quarter. First Horizon Corp now owns 880 shares of the industrial products company's stock worth $30,000 after acquiring an additional 295 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in Tetra Tech by 136.1% in the first 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. Danske Bank A S acquired a new position in shares of Tetra Tech during the third quarter valued at about $53,000. Larson Financial Group LLC raised its holdings in shares of Tetra Tech by 26.9% during the fourth quarter. Larson Financial Group LLC now owns 1,691 shares of the industrial products company's stock valued at $57,000 after purchasing an additional 358 shares during the period. Finally, Wilmington Savings Fund Society FSB boosted its position in shares of Tetra Tech by 84.0% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 1,755 shares of the industrial products company's stock worth $59,000 after purchasing an additional 801 shares in the last quarter. Institutional investors own 93.89% of the company's stock.

Tetra Tech Price Performance

TTEK opened at $27.13 on Wednesday. Tetra Tech, Inc. has a 1 year low of $25.81 and a 1 year high of $43.14. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.25 and a quick ratio of 1.25. The firm's fifty day moving average price is $29.98 and its two-hundred day moving average price is $33.51. The company has a market capitalization of $7.04 billion, a price-to-earnings ratio of 16.25 and a beta of 0.93.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last posted its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.31 by $0.03. The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1 billion. Tetra Tech had a net margin of 8.58% and a return on equity of 22.89%. The company's revenue for the quarter was down 7.7% on a year-over-year basis. During the same quarter last year, the business posted $0.33 EPS. 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, analysts anticipate that Tetra Tech, Inc. will post 1.53 earnings per share for the current fiscal year.

Tetra Tech Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 2nd. Shareholders of record on Thursday, May 14th were given a $0.072 dividend. This is an increase from Tetra Tech's previous quarterly dividend of $0.07. This represents a $0.29 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Thursday, May 14th. Tetra Tech's payout ratio is presently 17.37%.

Analyst Ratings Changes

TTEK has been the subject of a number of research analyst reports. Robert W. Baird set a $35.00 target price on Tetra Tech in a research report on Thursday, April 30th. Weiss Ratings restated a "hold (c)" rating on shares of Tetra Tech in a report on Monday, April 20th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $41.00.

Insider Transactions at Tetra Tech

In other Tetra Tech news, Director Jeffrey R. Feeler bought 1,900 shares of the firm's stock in a transaction dated Friday, May 15th. The stock was purchased at an average cost of $26.41 per share, with a total value of $50,179.00. Following the transaction, the director directly owned 1,900 shares in the company, valued at $50,179. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.49% of the stock is owned by company insiders.

About Tetra Tech

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.

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 reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.