Natixis Advisors LLC Trims Position in Tetra Tech, Inc. (NASDAQ:TTEK)

Key Points

• Natixis Advisors LLC significantly reduced its holdings in Tetra Tech, Inc. by 41%, selling 29,755 shares to hold 42,742 shares worth approximately $1,250,000.
• Despite Natixis's reduction, several other hedge funds, including Pictet Asset Management and Robeco Schweiz AG, increased their stakes in Tetra Tech during the same quarter.
• Tetra Tech reported a 0.43 EPS for its latest quarter, exceeding analysts' estimates, and announced a quarterly dividend of $0.065 per share, with a yield of 0.7%.

Natixis Advisors LLC cut its holdings in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 41.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,742 shares of the industrial products company's stock after selling 29,755 shares during the period. Natixis Advisors LLC's holdings in Tetra Tech were worth $1,250,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of TTEK. Fifth Third Bancorp grew its stake in shares of Tetra Tech by 9.7% during the first quarter. Fifth Third Bancorp now owns 5,351 shares of the industrial products company's stock valued at $157,000 after buying an additional 475 shares during the last quarter. TT International Asset Management LTD increased its stake in Tetra Tech by 3.1% in the 1st quarter. TT International Asset Management LTD now owns 16,993 shares of the industrial products company's stock worth $497,000 after buying an additional 515 shares during the period. Cullen Frost Bankers Inc. lifted its holdings in Tetra Tech by 30.9% during the 1st quarter. Cullen Frost Bankers Inc. now owns 2,335 shares of the industrial products company's stock valued at $68,000 after buying an additional 551 shares in the last quarter. Arkadios Wealth Advisors raised its stake in shares of Tetra Tech by 3.0% during the first quarter. Arkadios Wealth Advisors now owns 21,314 shares of the industrial products company's stock valued at $623,000 after acquiring an additional 630 shares in the last quarter. Finally, Xponance Inc. raised its position in Tetra Tech by 1.6% during the 1st quarter. Xponance Inc. now owns 43,677 shares of the industrial products company's stock valued at $1,278,000 after purchasing an additional 674 shares in the last quarter. Hedge funds and other institutional investors own 93.89% of the company's stock.

Tetra Tech Trading Down 2.7%

NASDAQ:TTEK traded down $1.01 during trading hours on Thursday, hitting $36.12. The company had a trading volume of 399,051 shares, compared to its average volume of 2,436,950. Tetra Tech, Inc. has a 1 year low of $27.27 and a 1 year high of $51.20. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 0.50. The company has a 50-day moving average of $36.55 and a 200 day moving average of $33.38. The company has a market cap of $9.49 billion, a P/E ratio of 45.18 and a beta of 0.92.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.37 by $0.06. The business had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.15 billion. Tetra Tech had a net margin of 3.94% and a return on equity of 24.70%. The business's revenue was up 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.59 EPS. Sell-side analysts expect that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, August 29th. Investors of record on Friday, August 15th will be paid a dividend of $0.065 per share. This represents a $0.26 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, August 15th. Tetra Tech's dividend payout ratio (DPR) is currently 32.50%.

Analysts Set New Price Targets

TTEK has been the topic of a number of recent research reports. Robert W. Baird raised their price objective on Tetra Tech from $31.00 to $33.00 and gave the company a "neutral" rating in a research report on Thursday, May 8th. KeyCorp upped their target price on Tetra Tech from $41.00 to $43.00 and gave the company an "overweight" rating in a research report on Friday, August 1st. Finally, Wall Street Zen raised shares of Tetra Tech from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, Tetra Tech currently has a consensus rating of "Moderate Buy" and a consensus 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.