T. Rowe Price Investment Management Inc. Sells 1,317,099 Shares of Tetra Tech, Inc. $TTEK

Key Points

• T. Rowe Price Investment Management Inc. reduced its holdings in Tetra Tech, Inc. by 91.7%, selling 1,317,099 shares, leaving them with 119,505 shares valued at approximately $3.5 million.
• Recent analysis shows Tetra Tech shares received upgrades, with Wall Street Zen raising their rating from "hold" to "buy" and KeyCorp increasing their price target from $41.00 to $43.00.
• The company announced a quarterly dividend of $0.065 per share, with a payout ratio of 32.5%, scheduled for payment on August 29th.

T. Rowe Price Investment Management Inc. decreased its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 91.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 119,505 shares of the industrial products company's stock after selling 1,317,099 shares during the period. T. Rowe Price Investment Management Inc.'s holdings in Tetra Tech were worth $3,496,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of TTEK. Vanguard Group Inc. grew its stake in shares of Tetra Tech by 4.9% during the 1st quarter. Vanguard Group Inc. now owns 27,185,795 shares of the industrial products company's stock valued at $795,185,000 after acquiring an additional 1,273,692 shares during the period. Pictet Asset Management Holding SA raised its stake in Tetra Tech by 3.5% during the 1st quarter. Pictet Asset Management Holding SA now owns 14,502,940 shares of the industrial products company's stock worth $424,209,000 after acquiring an additional 484,053 shares during the period. Sarasin & Partners LLP purchased a new position in Tetra Tech during the first quarter valued at approximately $144,799,000. Robeco Schweiz AG boosted its position in shares of Tetra Tech by 30.3% in the first quarter. Robeco Schweiz AG now owns 3,192,116 shares of the industrial products company's stock worth $93,369,000 after purchasing an additional 742,241 shares during the period. Finally, Ninety One UK Ltd boosted its position in shares of Tetra Tech by 26.4% in the first quarter. Ninety One UK Ltd now owns 2,990,262 shares of the industrial products company's stock worth $87,465,000 after purchasing an additional 625,052 shares during the period. 93.89% of the stock is owned by institutional investors.

Tetra Tech Price Performance

Shares of TTEK traded down $0.49 during midday trading on Friday, hitting $36.42. 2,744,867 shares of the company traded hands, compared to its average volume of 1,927,587. The stock has a market cap of $9.57 billion, a price-to-earnings ratio of 45.53 and a beta of 0.92. The firm has a 50 day moving average of $36.70 and a 200-day moving average of $33.47. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.18 and a current ratio of 1.18. Tetra Tech, Inc. has a 52 week low of $27.27 and a 52 week high of $51.20.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.37 by $0.06. The business had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.15 billion. Tetra Tech had a return on equity of 24.70% and a net margin of 3.94%.The firm's revenue for the quarter was up 1.9% compared to the same quarter last year. During the same quarter last year, the business posted $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, analysts forecast that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Robert W. Baird lifted their target price on shares of Tetra Tech from $31.00 to $33.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. 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. Finally, Wall Street Zen upgraded Tetra Tech from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Two equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $41.67.

Insider Buying and Selling

In other news, Director Gary Birkenbeuel sold 2,390 shares of the 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 sale, the director owned 37,725 shares of the company's stock, valued at approximately $1,358,100. This represents a 5.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate 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.