Northern Trust Corp Buys 132,974 Shares of Tetra Tech, Inc. $TTEK

Key Points

• Northern Trust Corp increased its investment in Tetra Tech, acquiring 132,974 shares, raising its total holdings to 2,878,408 shares, valued at approximately $84.19 million.
• Tetra Tech recently announced a quarterly dividend of $0.065, translating to an annualized yield of 0.7%, with a dividend payout ratio of 32.50%.
• The company reported a net margin of 3.94% for the latest quarter, with earnings per share (EPS) of $0.43, surpassing analyst expectations.

Northern Trust Corp lifted its stake in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 4.8% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 2,878,408 shares of the industrial products company's stock after buying an additional 132,974 shares during the quarter. Northern Trust Corp owned about 1.07% of Tetra Tech worth $84,193,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Praxis Investment Management Inc. acquired a new stake in Tetra Tech in the 1st quarter worth about $348,000. Cambridge Investment Research Advisors Inc. raised its stake in Tetra Tech by 39.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 18,496 shares of the industrial products company's stock worth $541,000 after purchasing an additional 5,275 shares in the last quarter. SG Americas Securities LLC raised its stake in Tetra Tech by 259.3% in the 1st quarter. SG Americas Securities LLC now owns 46,406 shares of the industrial products company's stock worth $1,357,000 after purchasing an additional 33,491 shares in the last quarter. Summit Trail Advisors LLC acquired a new stake in Tetra Tech in the 1st quarter worth about $590,000. Finally, Catalyst Capital Advisors LLC raised its stake in Tetra Tech by 16.2% in the 1st quarter. Catalyst Capital Advisors LLC now owns 72,960 shares of the industrial products company's stock worth $2,134,000 after purchasing an additional 10,159 shares in the last quarter. Institutional investors and hedge funds own 93.89% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on TTEK shares. Wall Street Zen upgraded shares of Tetra Tech from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Robert W. Baird lifted their price objective on shares of Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Finally, KeyCorp lifted their price objective on shares of Tetra Tech from $41.00 to $43.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, Tetra Tech currently has an average rating of "Moderate Buy" and an average target price of $41.67.

Tetra Tech Price Performance

Shares of NASDAQ:TTEK traded down $0.49 during midday trading on Friday, hitting $36.42. The stock had a trading volume of 2,744,867 shares, compared to its average volume of 1,927,587. The company's 50-day moving average price is $36.70 and its 200-day moving average price is $33.47. The company has a market capitalization of $9.57 billion, a P/E ratio of 45.53 and a beta of 0.92. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.50. Tetra Tech, Inc. has a fifty-two week low of $27.27 and a fifty-two week high of $51.20.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last issued its earnings results on Wednesday, July 30th. The industrial products company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.37 by $0.06. The company 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 business's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same period in the previous year, the company 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, equities research analysts predict that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Announces Dividend

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

Insider Activity

In related news, Director Gary Birkenbeuel sold 2,390 shares of Tetra Tech stock in a transaction that occurred 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 sale, the director directly owned 37,725 shares of the company's stock, valued at approximately $1,358,100. The trade was a 5.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.40% of the company's stock.

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.