Tetra Tech, Inc. $TTEK Shares Sold by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. has reduced its stake in Tetra Tech, Inc. by 15.1%, holding now approximately 183,417 shares valued at $5.36 million as of its recent SEC filing.
• Multiple investors have recently increased their stakes in Tetra Tech, including Caitong International Asset Management which raised its holdings by 283.9%.
• Tetra Tech recently announced a quarterly dividend of $0.065 per share, representing an annualized dividend yield of 0.7% with a payout ratio of 32.5%.

Raymond James Financial Inc. cut its stake in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 15.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 183,417 shares of the industrial products company's stock after selling 32,717 shares during the period. Raymond James Financial Inc. owned approximately 0.07% of Tetra Tech worth $5,365,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC acquired a new stake in Tetra Tech during the 4th quarter valued at $225,000. Schonfeld Strategic Advisors LLC acquired a new position in shares of Tetra Tech in the fourth quarter worth $940,000. Ameriprise Financial Inc. lifted its position in shares of Tetra Tech by 16.0% in the fourth quarter. Ameriprise Financial Inc. now owns 866,937 shares of the industrial products company's stock valued at $34,539,000 after acquiring an additional 119,804 shares in the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Tetra Tech during the fourth quarter valued at $3,231,000. Finally, Captrust Financial Advisors increased its position in Tetra Tech by 85.9% during the 4th quarter. Captrust Financial Advisors now owns 45,965 shares of the industrial products company's stock worth $1,831,000 after purchasing an additional 21,241 shares in the last quarter. 93.89% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Tetra Tech

In related news, Director Gary Birkenbeuel sold 2,390 shares of Tetra Tech 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 approximately $1,358,100. The trade was a 5.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.40% of the company's stock.

Tetra Tech Trading Down 1.1%

Shares of TTEK traded down $0.38 during mid-day trading on Monday, reaching $35.71. The company had a trading volume of 2,225,092 shares, compared to its average volume of 2,409,753. The stock has a market cap of $9.38 billion, a price-to-earnings ratio of 44.64 and a beta of 0.93. The firm has a fifty day simple moving average of $36.74 and a 200-day simple moving average of $33.69. Tetra Tech, Inc. has a fifty-two week low of $27.27 and a fifty-two week 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.

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 for the quarter, beating analysts' consensus estimates of $0.37 by $0.06. The company had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.15 billion. Tetra Tech had a net margin of 3.94% and a return on equity of 24.70%. Tetra Tech's revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter last year, the business 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. On average, sell-side analysts anticipate 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. Shareholders of record on Friday, August 15th were issued a $0.065 dividend. This represents a $0.26 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date was Friday, August 15th. Tetra Tech's dividend payout ratio (DPR) is 32.50%.

Analysts Set New Price Targets

A number of research firms have issued reports on TTEK. KeyCorp upped their target price on shares of Tetra Tech from $41.00 to $43.00 and gave the company an "overweight" rating in a 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 analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Tetra Tech currently has an average rating of "Moderate Buy" and an average price target of $41.67.

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.