Maridea Wealth Management LLC Invests $452,000 in Tetra Tech, Inc. $TTEK

Key Points

• Maridea Wealth Management LLC invested approximately $452,000 in Tetra Tech, acquiring 12,556 shares, highlighting increased institutional interest in the company.
• Analysts have raised price targets for Tetra Tech, with KeyCorp increasing their objective from $41.00 to $43.00 and a general consensus rating of "Moderate Buy."
• Tetra Tech reported a Q2 EPS of $0.43, surpassing analysts' estimates, with revenue slightly up 1.9% year-over-year at $1.15 billion.

Maridea Wealth Management LLC acquired a new position in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 12,556 shares of the industrial products company's stock, valued at approximately $452,000.

Several other large investors also recently made changes to their positions in the stock. Public Employees Retirement System of Ohio increased its position in shares of Tetra Tech by 1.1% during the second quarter. Public Employees Retirement System of Ohio now owns 85,136 shares of the industrial products company's stock worth $3,061,000 after acquiring an additional 897 shares in the last quarter. Ballentine Partners LLC increased its position in shares of Tetra Tech by 158.9% during the second quarter. Ballentine Partners LLC now owns 17,730 shares of the industrial products company's stock worth $638,000 after acquiring an additional 10,883 shares in the last quarter. Define Financial LLC increased its position in shares of Tetra Tech by 47.7% during the second quarter. Define Financial LLC now owns 15,303 shares of the industrial products company's stock worth $550,000 after acquiring an additional 4,940 shares in the last quarter. Compagnie Lombard Odier SCmA bought a new stake in shares of Tetra Tech during the second quarter worth $280,000. Finally, Argent Capital Management LLC increased its position in shares of Tetra Tech by 216.1% during the second quarter. Argent Capital Management LLC now owns 62,521 shares of the industrial products company's stock worth $2,248,000 after acquiring an additional 42,741 shares in the last quarter. Institutional investors own 93.89% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. KeyCorp increased 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, August 1st. Wall Street Zen upgraded shares of Tetra Tech from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $41.67.

Tetra Tech Stock Performance

Shares of TTEK opened at $33.10 on Friday. Tetra Tech, Inc. has a 12 month low of $27.27 and a 12 month high of $51.20. The firm has a fifty day simple moving average of $36.44 and a 200 day simple moving average of $34.21. The stock has a market capitalization of $8.70 billion, a price-to-earnings ratio of 41.38 and a beta of 0.93. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.50.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.43 EPS for the quarter, beating analysts' consensus estimates of $0.37 by $0.06. The firm had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.15 billion. Tetra Tech had a net margin of 3.94% and a return on equity of 24.70%. The company's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.59 earnings per share. Tetra Tech has set its FY 2025 guidance at 1.490-1.540 EPS. Q4 2025 guidance at 0.380-0.430 EPS. Research analysts forecast that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Dividend Announcement

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

Insider Buying and Selling

In other Tetra Tech news, Director Gary Birkenbeuel sold 2,390 shares of the stock in a transaction on 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 sale, the director owned 37,725 shares in the company, valued at $1,358,100. This trade represents a 5.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.40% of the stock is currently owned by corporate insiders.

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.

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