Tetra Tech, Inc. $TTEK Shares Sold by Thematics Asset Management

Key Points

• Thematics Asset Management reduced its stake in Tetra Tech by 21.7%, selling 55,000 shares and now holding 198,750 shares valued at approximately $5.8 million.
• Tetra Tech reported $0.43 earnings per share for the latest quarter, exceeding analysts' estimates of $0.37, while its revenue remained stable at $1.15 billion.
• The company declared a quarterly dividend of $0.065 per share, with an annualized dividend yield of 0.7%, scheduled for payment on August 29th.

Thematics Asset Management cut its holdings in shares of Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 21.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 198,750 shares of the industrial products company's stock after selling 55,000 shares during the period. Thematics Asset Management owned 0.07% of Tetra Tech worth $5,813,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake 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 in the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of 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 purchased a new position in shares of Tetra Tech during the first quarter worth $144,799,000. Robeco Schweiz AG raised 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 last quarter. Finally, Ninety One UK Ltd raised its holdings in shares of Tetra Tech by 26.4% during the first quarter. Ninety One UK Ltd now owns 2,990,262 shares of the industrial products company's stock worth $87,465,000 after purchasing an additional 625,052 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

TTEK has been the subject of several recent research reports. Wall Street Zen raised shares of Tetra Tech from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Robert W. Baird lifted their price objective on shares of Tetra Tech from $31.00 to $33.00 and gave the company a "neutral" rating in a report on Thursday, May 8th. Finally, KeyCorp lifted their price objective on shares of Tetra Tech from $41.00 to $43.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $41.67.

Insiders Place Their Bets

In related news, Director Gary Birkenbeuel sold 2,390 shares of the business's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $36.00, for a total transaction of $86,040.00. Following the transaction, the director directly owned 37,725 shares in the company, valued at approximately $1,358,100. The trade was a 5.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.40% of the company's stock.

Tetra Tech Price Performance

Shares of TTEK stock traded down $0.47 on Friday, reaching $36.45. 1,069,673 shares of the company were exchanged, compared to its average volume of 2,400,192. The company has a market cap of $9.58 billion, a price-to-earnings ratio of 45.56 and a beta of 0.92. The business has a 50-day moving average price of $36.68 and a 200 day moving average price of $33.43. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.18 and a current ratio of 1.18. Tetra Tech, Inc. has a 1 year low of $27.27 and a 1 year high of $51.20.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last released its earnings results 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. The business had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.15 billion. Tetra Tech had a net margin of 3.94% and a return on equity of 24.70%. The company's quarterly revenue was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.59 earnings per share. Tetra Tech has set its FY 2025 guidance at 1.490-1.540 EPS. Q4 2025 guidance at 0.380-0.430 EPS. Equities research analysts forecast that Tetra Tech, Inc. will post 1.37 earnings per share for the current fiscal year.

Tetra Tech Announces Dividend

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

About Tetra Tech

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.