Tetra Tech, Inc. $TTEK Position Cut by Voya Investment Management LLC

Key Points

• Voya Investment Management LLC significantly reduced its stake in Tetra Tech by 99.7%, selling nearly 20 million shares, leaving it with only about 56,000 shares valued at approximately $1.6 million.
• Multiple institutional investors have increased their holdings in Tetra Tech, with Sarasin & Partners LLP acquiring a substantial new position worth $144.8 million.
• Tetra Tech reported earnings of $0.43 per share for the last quarter, exceeding analyst expectations, and has forecasted a FY 2025 EPS guidance of 1.490-1.540.

Voya Investment Management LLC trimmed its stake in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 99.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 55,997 shares of the industrial products company's stock after selling 19,933,202 shares during the quarter. Voya Investment Management LLC's holdings in Tetra Tech were worth $1,638,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of TTEK. Sarasin & Partners LLP acquired a new position in shares of Tetra Tech during the first quarter valued at $144,799,000. LGT Group Foundation increased its holdings in shares of Tetra Tech by 124.2% during the first 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. Vanguard Group Inc. increased its holdings in shares of Tetra Tech by 4.9% during the first quarter. Vanguard Group Inc. now owns 27,185,795 shares of the industrial products company's stock valued at $795,185,000 after purchasing an additional 1,273,692 shares during the period. Van Berkom & Associates Inc. acquired a new position in shares of Tetra Tech during the first quarter valued at $32,816,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of Tetra Tech by 136.5% during the first quarter. Goldman Sachs Group Inc. now owns 1,658,349 shares of the industrial products company's stock valued at $48,507,000 after purchasing an additional 957,050 shares during the period. 93.89% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

TTEK has been the topic of a number of research 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 raised 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 given a Hold rating to the company. Based on data from MarketBeat, Tetra Tech currently has an average rating of "Moderate Buy" and a consensus target price of $41.67.

Tetra Tech Trading Down 2.3%

Shares of NASDAQ TTEK opened at $35.22 on Tuesday. Tetra Tech, Inc. has a one year low of $27.27 and a one year high of $51.20. The firm has a market capitalization of $9.25 billion, a PE ratio of 44.03 and a beta of 0.93. 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 business has a 50-day moving average price of $36.65 and a two-hundred day moving average price of $34.19.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $0.43 EPS for the quarter, topping 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 during the quarter, compared to analyst estimates of $1.15 billion. During the same period last year, the company posted $1.59 EPS. The business's quarterly 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. As a group, analysts predict that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Dividend Announcement

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

Insider Activity

In other news, Director Gary Birkenbeuel sold 2,390 shares of Tetra Tech stock in a transaction dated Thursday, August 14th. The stock was sold at an average price of $36.00, for a total transaction of $86,040.00. Following the completion of the sale, the director directly owned 37,725 shares in the company, valued at $1,358,100. The trade was a 5.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.40% of the stock is currently owned by corporate insiders.

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.

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