Ninety One UK Ltd Has $100.40 Million Stock Holdings in Tetra Tech, Inc. $TTEK

Key Points

• Ninety One UK Ltd reduced its holdings in Tetra Tech, Inc. by 6.6% during Q2, owning approximately 2.79 million shares valued at $100.40 million.
• Tetra Tech announced a quarterly dividend of $0.065 per share, yielding 0.8%, and has a current payout ratio of 32.50%.
• Wall Street analysts have recently upgraded Tetra Tech's rating to "buy," with a consensus price target of $41.00.

Ninety One UK Ltd cut its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 6.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,791,912 shares of the industrial products company's stock after selling 198,350 shares during the period. Ninety One UK Ltd owned about 1.06% of Tetra Tech worth $100,397,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in TTEK. Brighton Jones LLC acquired a new stake in Tetra Tech during the 4th quarter worth approximately $225,000. MassMutual Private Wealth & Trust FSB boosted its position in Tetra Tech by 734.2% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,685 shares of the industrial products company's stock worth $49,000 after buying an additional 1,483 shares during the period. Versant Capital Management Inc boosted its position in Tetra Tech by 334.7% during the 1st quarter. Versant Capital Management Inc now owns 3,278 shares of the industrial products company's stock worth $96,000 after buying an additional 2,524 shares during the period. GAMMA Investing LLC boosted its position in Tetra Tech by 2,784.2% during the 1st quarter. GAMMA Investing LLC now owns 86,814 shares of the industrial products company's stock worth $2,539,000 after buying an additional 83,804 shares during the period. Finally, Parallel Advisors LLC boosted its position in Tetra Tech by 188.3% during the 1st quarter. Parallel Advisors LLC now owns 3,177 shares of the industrial products company's stock worth $93,000 after buying an additional 2,075 shares during the period. 93.89% of the stock is currently owned by institutional investors and hedge funds.

Tetra Tech Stock Down 0.7%

Shares of NASDAQ TTEK opened at $33.38 on Wednesday. The company has a market capitalization of $8.77 billion, a P/E ratio of 41.73 and a beta of 0.93. Tetra Tech, Inc. has a 52-week low of $27.27 and a 52-week high of $51.20. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.18 and a current ratio of 1.18. The company's 50 day moving average price is $36.16 and its 200-day moving average price is $34.34.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its earnings results on Wednesday, July 30th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 the consensus estimate of $1.15 billion. During the same quarter in the previous year, the company earned $1.59 EPS. Tetra Tech's quarterly revenue was up 1.9% compared to the same quarter last year. Tetra Tech has set its FY 2025 guidance at 1.490-1.540 EPS. Q4 2025 guidance at 0.380-0.430 EPS. Equities analysts forecast that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, August 29th. Investors of record on Friday, August 15th were given a dividend of $0.065 per share. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Friday, August 15th. Tetra Tech's payout ratio is presently 32.50%.

Insider Activity

In related news, Director Gary Birkenbeuel sold 2,390 shares of the business's stock in a transaction on Thursday, August 14th. The shares were sold at an average price of $36.00, for a total transaction of $86,040.00. Following the transaction, the director owned 37,725 shares in the company, valued at $1,358,100. The trade was a 5.96% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.40% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Wall Street Zen upgraded shares of Tetra Tech from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Royal Bank Of Canada set a $47.00 price target on shares of Tetra Tech and gave the stock an "outperform" rating in a research report on Monday. Finally, KeyCorp boosted their price target 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. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, Tetra Tech has a consensus rating of "Moderate Buy" and a consensus price target of $41.00.

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.

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 and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.