Aberdeen Group plc Sells 764,900 Shares of Tetra Tech, Inc. $TTEK

Key Points

• Aberdeen Group plc reduced its stake in Tetra Tech, Inc. by 33.7% for a total of 1,504,877 shares after selling 764,900 shares during the first quarter.
• Several other hedge funds have modified their positions, with 93.89% of the company's stock now owned by institutional investors.
• Analysts have issued mixed ratings on Tetra Tech, with an average rating of "Moderate Buy" and a consensus price target of $41.67.

Aberdeen Group plc trimmed its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 33.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,504,877 shares of the industrial products company's stock after selling 764,900 shares during the period. Aberdeen Group plc owned about 0.56% of Tetra Tech worth $44,048,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in TTEK. Vanguard Group Inc. grew its holdings 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 during the period. Pictet Asset Management Holding SA lifted its stake in Tetra Tech by 3.5% during the first quarter. Pictet Asset Management Holding SA now owns 14,502,940 shares of the industrial products company's stock worth $424,209,000 after purchasing an additional 484,053 shares during the last quarter. Sarasin & Partners LLP acquired a new stake in Tetra Tech in the first quarter valued at approximately $144,799,000. Robeco Schweiz AG lifted its holdings in shares of Tetra Tech by 30.3% during 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 increased its stake in 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 valued at $87,465,000 after purchasing an additional 625,052 shares in the last quarter. 93.89% of the stock is owned by institutional investors and hedge funds.

Tetra Tech Stock Up 2.9%

Shares of NASDAQ TTEK traded up $1.05 during mid-day trading on Friday, reaching $36.86. 432,500 shares of the company traded hands, compared to its average volume of 2,412,473. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.18 and a current ratio of 1.18. The stock has a market cap of $9.69 billion, a PE ratio of 46.10 and a beta of 0.92. Tetra Tech, Inc. has a fifty-two week low of $27.27 and a fifty-two week high of $51.20. The company's fifty day moving average is $36.57 and its two-hundred day moving average is $33.32.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $0.43 earnings per share (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 firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the company posted $1.59 EPS. The business'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. On average, analysts expect that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Announces Dividend

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

Analyst Ratings Changes

A number of research firms recently weighed in on TTEK. KeyCorp upped their target price on shares of Tetra Tech from $41.00 to $43.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Robert W. Baird increased their price objective on shares of Tetra Tech from $31.00 to $33.00 and gave the stock a "neutral" rating in a research note on Thursday, May 8th. Finally, Wall Street Zen raised shares of Tetra Tech from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Two investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $41.67.

Insider Transactions at Tetra Tech

In other news, Director Gary Birkenbeuel sold 2,390 shares of the stock in a transaction that occurred 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 transaction, the director owned 37,725 shares in the company, valued at approximately $1,358,100. This trade represents a 5.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.40% of the stock is owned by corporate insiders.

Tetra Tech Company 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.