Tetra Tech, Inc. $TTEK Shares Acquired by Bleakley Financial Group LLC

Key Points

• Bleakley Financial Group increased its Tetra Tech stake by 305.9% in the first quarter, ending with 147,938 shares valued at about $4.46 million.
• Tetra Tech reported better-than-expected quarterly results, earning $0.34 per share on $1.22 billion in revenue, both ahead of analyst estimates, even though revenue declined 7.7% year over year.
• The company raised its quarterly dividend to $0.072 per share and has also seen positive insider and analyst activity, including a director stock purchase and a Moderate Buy consensus rating.

Bleakley Financial Group LLC grew its holdings in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 305.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 147,938 shares of the industrial products company's stock after acquiring an additional 111,493 shares during the period. Bleakley Financial Group LLC owned about 0.06% of Tetra Tech worth $4,456,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. First Horizon Corp boosted its stake in shares of Tetra Tech by 50.4% in the fourth quarter. First Horizon Corp now owns 880 shares of the industrial products company's stock valued at $30,000 after purchasing an additional 295 shares during the period. CIBC Private Wealth Group LLC lifted its holdings in Tetra Tech by 63.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 880 shares of the industrial products company's stock worth $30,000 after buying an additional 341 shares in the last quarter. OP Asset Management Ltd acquired a new position in Tetra Tech in the 1st quarter worth $34,000. Geneos Wealth Management Inc. boosted its position in Tetra Tech by 136.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,303 shares of the industrial products company's stock valued at $38,000 after buying an additional 751 shares during the last quarter. Finally, Danske Bank A S acquired a new stake in shares of Tetra Tech during the third quarter valued at about $53,000. 93.89% of the stock is owned by hedge funds and other institutional investors.

Tetra Tech Price Performance

Shares of NASDAQ TTEK opened at $31.33 on Thursday. The stock has a market cap of $8.13 billion, a P/E ratio of 18.76 and a beta of 0.92. The firm's 50-day simple moving average is $28.56 and its 200 day simple moving average is $32.25. Tetra Tech, Inc. has a fifty-two week low of $25.81 and a fifty-two week high of $43.14. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 0.47.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last issued its quarterly earnings results on Wednesday, April 29th. The industrial products company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.03. The company had revenue of $1.22 billion for the quarter, compared to analysts' expectations of $1 billion. Tetra Tech had a return on equity of 22.89% and a net margin of 8.58%.The firm's revenue for the quarter was down 7.7% on a year-over-year basis. During the same period last year, the firm earned $0.33 EPS. Tetra Tech has set its FY 2026 guidance at 1.500-1.580 EPS and its Q3 2026 guidance at 0.38-0.41 EPS. Equities analysts expect that Tetra Tech, Inc. will post 1.54 EPS for the current year.

Tetra Tech Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 2nd. Stockholders of record on Thursday, May 14th were issued a $0.072 dividend. The ex-dividend date was Thursday, May 14th. This represents a $0.29 dividend on an annualized basis and a dividend yield of 0.9%. This is a positive change from Tetra Tech's previous quarterly dividend of $0.07. Tetra Tech's dividend payout ratio is currently 17.37%.

Insider Activity at Tetra Tech

In related news, Director Jeffrey R. Feeler purchased 1,900 shares of the company's stock in a transaction dated Friday, May 15th. The shares were acquired at an average cost of $26.41 per share, with a total value of $50,179.00. Following the completion of the purchase, the director owned 1,900 shares of the company's stock, valued at $50,179. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.49% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Wall Street Zen downgraded Tetra Tech from a "buy" rating to a "hold" rating in a report on Sunday. Robert W. Baird set a $35.00 price target on shares of Tetra Tech in a research note on Thursday, April 30th. Weiss Ratings cut shares of Tetra Tech from a "hold (c)" rating to a "hold (c-)" rating in a report on Thursday, June 4th. Finally, National Bank Financial reduced their price objective on shares of Tetra Tech from $38.00 to $35.00 and set an "outperform" rating on the stock in a research note on Monday. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $39.80.

Tetra Tech Company Profile

Tetra Tech, Inc is a leading provider of consulting and engineering services with a focus on water, environment, infrastructure, resource management and energy sectors. Headquartered in Pasadena, California, the company delivers end-to-end solutions that encompass planning, design, engineering, program management and construction management. Tetra Tech's multidisciplinary teams integrate science, technology and advisory services to address complex challenges in areas such as water resources, environmental remediation, sustainable infrastructure and renewable energy.

The company's core offerings include environmental assessments and cleanup, water treatment and reuse, coastal and marine engineering, climate resilience planning, and engineering design for transportation and built environments.

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