Sumitomo Mitsui DS Asset Management Company Ltd Sells 55,465 Shares of Tetra Tech, Inc. $TTEK

Key Points

• Sumitomo Mitsui DS Asset Management Company Ltd has significantly decreased its stake in Tetra Tech, Inc. by selling 55,465 shares, resulting in a 68.2% reduction in their position during the second quarter.
• Analysts have recently upgraded Tetra Tech's rating to “buy” and increased the price target from $41 to $43, with the stock presently holding a consensus rating of "Moderate Buy."
• Tetra Tech recently declared a quarterly dividend of $0.065 per share, reflecting an annualized dividend yield of 0.7%, alongside a dividend payout ratio of 32.50%.

Sumitomo Mitsui DS Asset Management Company Ltd decreased its position in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 68.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,915 shares of the industrial products company's stock after selling 55,465 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Tetra Tech were worth $932,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Focus Financial Network Inc. bought a new position in shares of Tetra Tech during the second quarter valued at $214,000. Sarasin & Partners LLP increased its holdings in shares of Tetra Tech by 1.2% during the second quarter. Sarasin & Partners LLP now owns 4,683,576 shares of the industrial products company's stock valued at $168,421,000 after acquiring an additional 55,012 shares in the last quarter. Radnor Capital Management LLC increased its holdings in shares of Tetra Tech by 353.2% during the second quarter. Radnor Capital Management LLC now owns 33,920 shares of the industrial products company's stock valued at $1,220,000 after acquiring an additional 26,435 shares in the last quarter. Aaron Wealth Advisors LLC bought a new position in shares of Tetra Tech during the second quarter valued at $290,000. Finally, Financiere des Professionnels Fonds d investissement inc. bought a new position in shares of Tetra Tech during the second quarter valued at $751,000. Institutional investors own 93.89% of the company's stock.

Analysts Set New Price Targets

TTEK has been the subject of several analyst reports. KeyCorp raised their price target on 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 Tetra Tech from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Two research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $41.67.

Tetra Tech Trading Down 2.3%

Tetra Tech stock opened at $35.22 on Tuesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.18 and a quick ratio of 1.18. Tetra Tech, Inc. has a one year low of $27.27 and a one year high of $51.20. The stock has a market capitalization of $9.25 billion, a PE ratio of 44.03 and a beta of 0.93. The business's fifty day moving average is $36.65 and its 200 day moving average is $34.19.

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 the consensus estimate of $0.37 by $0.06. Tetra Tech had a return on equity of 24.70% and a net margin of 3.94%.The company had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.15 billion. During the same period last year, the firm posted $1.59 earnings per share. Tetra Tech's 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. On average, sell-side analysts predict that Tetra Tech, Inc. will post 1.37 EPS for the current year.

Tetra Tech Announces Dividend

The firm also recently disclosed 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. 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 dividend payout ratio (DPR) is 32.50%.

Insider Activity at Tetra Tech

In related news, Director Gary Birkenbeuel sold 2,390 shares of the stock in a transaction on Thursday, August 14th. The stock was 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 $1,358,100. This trade represents a 5.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.40% of the stock is owned by company insiders.

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.

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