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. lowered its holdings in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 91.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. 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 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of TTEK. Sarasin & Partners LLP bought a new stake in Tetra Tech in the 1st quarter valued at about $144,799,000. Jacobs Levy Equity Management Inc. boosted its holdings in Tetra Tech by 814.2% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 2,267,296 shares of the industrial products company's stock valued at $90,329,000 after purchasing an additional 2,019,295 shares during the period. LGT Group Foundation boosted its holdings in Tetra Tech by 124.2% in the 1st quarter. LGT Group Foundation now owns 2,734,057 shares of the industrial products company's stock valued at $79,971,000 after purchasing an additional 1,514,583 shares during the period. Bain Capital Public Equity Management II LLC boosted its holdings in Tetra Tech by 149.5% in the 4th quarter. Bain Capital Public Equity Management II LLC now owns 2,409,928 shares of the industrial products company's stock valued at $96,012,000 after purchasing an additional 1,443,939 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Tetra Tech by 4.9% in 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 buying an additional 1,273,692 shares in the last quarter. Institutional investors own 93.89% of the company's stock.

Tetra Tech Trading Down 1.4%

TTEK traded down $0.51 during trading on Friday, reaching $36.40. 1,332,894 shares of the company's stock were exchanged, compared to its average volume of 2,401,505. Tetra Tech, Inc. has a one year low of $27.27 and a one year 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. The stock has a market capitalization of $9.57 billion, a PE ratio of 45.52 and a beta of 0.92. The firm has a fifty day moving average price of $36.68 and a two-hundred day moving average price of $33.43.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last posted its earnings results on Wednesday, July 30th. The industrial products company reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.37 by $0.06. Tetra Tech had a net margin of 3.94% and a return on equity of 24.70%. The firm had revenue of $1.15 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the firm posted $1.59 EPS. The company's revenue for the quarter 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. As a group, equities research analysts forecast that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 29th. Stockholders of record on Friday, August 15th will be paid 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 of this dividend is Friday, August 15th. Tetra Tech's dividend payout ratio is currently 32.50%.

Insider Activity at Tetra Tech

In other 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 sale, the director directly owned 37,725 shares of the company's stock, valued at approximately $1,358,100. This represents a 5.96% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.40% of the company's stock.

Analyst Ratings Changes

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

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.