Tetra Tech, Inc. $TTEK Shares Sold by Royal Bank of Canada

Royal Bank of Canada lessened its position in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 54.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 903,981 shares of the industrial products company's stock after selling 1,086,533 shares during the quarter. Royal Bank of Canada owned approximately 0.34% of Tetra Tech worth $26,442,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Chilton Capital Management LLC purchased a new stake in shares of Tetra Tech in the 1st quarter valued at $25,000. Baillie Gifford & Co. purchased a new stake in shares of Tetra Tech in the 1st quarter valued at $27,000. SVB Wealth LLC purchased a new stake in shares of Tetra Tech in the 1st quarter valued at $36,000. Caitong International Asset Management Co. Ltd raised its holdings in shares of Tetra Tech by 283.9% in the 1st quarter. Caitong International Asset Management Co. Ltd now owns 1,547 shares of the industrial products company's stock valued at $45,000 after buying an additional 1,144 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its holdings in shares of Tetra Tech by 734.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,685 shares of the industrial products company's stock valued at $49,000 after buying an additional 1,483 shares during the period. Hedge funds and other institutional investors own 93.89% of the company's stock.

Insiders Place Their Bets

In related news, Director Gary Birkenbeuel sold 2,390 shares of Tetra Tech stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $36.00, for a total value 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on TTEK. KeyCorp upped their price target on Tetra Tech from $41.00 to $43.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Wall Street Zen upgraded 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 issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $41.67.

Tetra Tech Trading Up 1.1%

Shares of TTEK stock traded up $0.39 during mid-day trading on Thursday, hitting $36.05. 583,684 shares of the company's stock were exchanged, compared to its average volume of 2,399,479. Tetra Tech, Inc. has a fifty-two week low of $27.27 and a fifty-two week high of $51.20. The stock has a 50-day simple moving average of $36.69 and a two-hundred day simple moving average of $33.75. The company has a quick ratio of 1.18, a current ratio of 1.18 and a debt-to-equity ratio of 0.50. The stock has a market cap of $9.47 billion, a price-to-earnings ratio of 45.09 and a beta of 0.93.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, topping 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 business had revenue of $1.15 billion for the quarter, compared to analysts' expectations of $1.15 billion. During the same quarter last year, the firm earned $1.59 earnings per share. The business's revenue was up 1.9% on a year-over-year basis. Tetra Tech has set its FY 2025 guidance at 1.490-1.540 EPS. Q4 2025 guidance at 0.380-0.430 EPS. Equities analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Announces Dividend

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

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.