Tetra Tech, Inc. $TTEK Shares Bought by Sarasin & Partners LLP

Key Points

• Sarasin & Partners LLP increased its stake in Tetra Tech, Inc. by 1.2% during the second quarter, now owning 4.68 million shares valued at approximately $168.4 million.
• Tetra Tech reported quarterly earnings of $0.43 per share, surpassing analysts' expectations, with revenue up 1.9% year-over-year.
• The company announced a quarterly dividend of $0.065 per share, which equates to an annualized yield of 0.7%, with a payout ratio of 32.5%.

Sarasin & Partners LLP raised its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 1.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,683,576 shares of the industrial products company's stock after acquiring an additional 55,012 shares during the quarter. Tetra Tech makes up about 1.7% of Sarasin & Partners LLP's investment portfolio, making the stock its 26th biggest position. Sarasin & Partners LLP owned about 1.78% of Tetra Tech worth $168,421,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in TTEK. Brighton Jones LLC purchased a new stake in shares of Tetra Tech in the fourth quarter worth about $225,000. ProShare Advisors LLC lifted its position in shares of Tetra Tech by 7.4% in the fourth quarter. ProShare Advisors LLC now owns 12,526 shares of the industrial products company's stock worth $499,000 after buying an additional 866 shares in the last quarter. Two Sigma Advisers LP lifted its position in shares of Tetra Tech by 136.9% in the fourth quarter. Two Sigma Advisers LP now owns 185,700 shares of the industrial products company's stock worth $7,398,000 after buying an additional 107,300 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of Tetra Tech in the fourth quarter worth about $7,548,000. Finally, Zurich Insurance Group Ltd FI purchased a new stake in shares of Tetra Tech in the fourth quarter worth about $1,151,000. 93.89% of the stock is currently owned by hedge funds and other institutional investors.

Tetra Tech Price Performance

Shares of Tetra Tech stock traded down $0.47 on Friday, hitting $36.06. 4,022,130 shares of the company were exchanged, compared to its average volume of 2,008,599. The stock has a market capitalization of $9.48 billion, a price-to-earnings ratio of 45.08 and a beta of 0.93. The company has a 50-day moving average price of $36.69 and a 200 day moving average price of $34.11. Tetra Tech, Inc. has a 1-year low of $27.27 and a 1-year high of $51.20. 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 (NASDAQ:TTEK - Get Free Report) last released its quarterly earnings data 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. Tetra Tech had a return on equity of 24.70% and a net margin of 3.94%.The firm had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.15 billion. During the same period in the prior year, the firm posted $1.59 earnings per share. The firm's quarterly revenue was up 1.9% on a year-over-year basis. 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, sell-side analysts predict that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Dividend Announcement

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

Insider Buying and Selling

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

Analysts Set New Price Targets

Several research firms have recently weighed in on TTEK. Wall Street Zen raised Tetra Tech from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. KeyCorp boosted 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. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price 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.