Tetra Tech, Inc. $TTEK Shares Sold by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. reduced its stake in Tetra Tech, Inc. by 21.8% during the first quarter, now holding 6,141,224 shares valued at approximately $179.63 million.
• Analysts' ratings on Tetra Tech have been positive, with Robert W. Baird and KeyCorp increasing target prices, reflecting a consensus rating of "Moderate Buy" and a target price of $41.67.
• Tetra Tech recently announced a quarterly dividend of $0.065 per share, representing a 0.7% yield, with a payout ratio of 32.50%.

Alliancebernstein L.P. decreased its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 21.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,141,224 shares of the industrial products company's stock after selling 1,709,763 shares during the period. Alliancebernstein L.P. owned 2.29% of Tetra Tech worth $179,631,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in TTEK. Brighton Jones LLC acquired a new position in Tetra Tech during the fourth quarter worth approximately $225,000. Schonfeld Strategic Advisors LLC acquired a new position in Tetra Tech during the fourth quarter worth approximately $940,000. Ameriprise Financial Inc. grew its stake in shares of Tetra Tech by 16.0% in the 4th quarter. Ameriprise Financial Inc. now owns 866,937 shares of the industrial products company's stock valued at $34,539,000 after purchasing an additional 119,804 shares during the last quarter. Balyasny Asset Management L.P. purchased a new position in shares of Tetra Tech in the 4th quarter valued at approximately $3,231,000. Finally, Captrust Financial Advisors grew its stake in shares of Tetra Tech by 85.9% in the 4th quarter. Captrust Financial Advisors now owns 45,965 shares of the industrial products company's stock valued at $1,831,000 after purchasing an additional 21,241 shares during the last quarter. Institutional investors and hedge funds own 93.89% of the company's stock.

Analysts Set New Price Targets

Several brokerages have weighed in on TTEK. KeyCorp lifted their target price on Tetra Tech from $41.00 to $43.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Wall Street Zen upgraded Tetra Tech from a "hold" rating to a "buy" rating in a research report on Saturday, August 2nd. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $41.67.

Tetra Tech Trading Down 1.1%

TTEK stock traded down $0.38 during trading on Monday, reaching $35.71. 2,225,092 shares of the stock traded hands, compared to its average volume of 1,854,533. The business's 50 day moving average price is $36.73 and its 200-day moving average price is $33.73. Tetra Tech, Inc. has a 52-week low of $27.27 and a 52-week high of $51.20. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.18 and a quick ratio of 1.18. The firm has a market capitalization of $9.38 billion, a PE ratio of 44.64 and a beta of 0.93.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $1.15 billion. During the same quarter in the previous year, the business earned $1.59 earnings per share. The firm'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, sell-side analysts forecast that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Announces Dividend

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

Insider Buying and Selling at Tetra Tech

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 sale, the director directly owned 37,725 shares of the company's stock, valued at approximately $1,358,100. The trade was a 5.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.