Thematics Asset Management Cuts Stock Position in Tetra Tech, Inc. $TTEK

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 trimmed its holdings in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 21.7% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 198,750 shares of the industrial products company's stock after selling 55,000 shares during the quarter. Thematics Asset Management owned approximately 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 company. Campbell & CO Investment Adviser LLC boosted its position in shares of Tetra Tech by 658.6% during the 1st quarter. Campbell & CO Investment Adviser LLC now owns 189,021 shares of the industrial products company's stock valued at $5,529,000 after acquiring an additional 164,104 shares during the last quarter. SVB Wealth LLC purchased a new stake in Tetra Tech during the 1st quarter valued at $36,000. AlphaQuest LLC raised its holdings in Tetra Tech by 139.8% during the 1st quarter. AlphaQuest LLC now owns 8,863 shares of the industrial products company's stock valued at $259,000 after buying an additional 5,167 shares during the period. Gitterman Wealth Management LLC increased its stake in Tetra Tech by 70.3% in the first quarter. Gitterman Wealth Management LLC now owns 16,825 shares of the industrial products company's stock worth $492,000 after purchasing an additional 6,945 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in Tetra Tech by 75.8% in the first quarter. Ameriprise Financial Inc. now owns 1,523,809 shares of the industrial products company's stock worth $44,571,000 after purchasing an additional 656,872 shares during the period. 93.89% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Tetra Tech news, Director Gary Birkenbeuel sold 2,390 shares of the business's stock in a transaction on Thursday, August 14th. The stock was sold at an average price of $36.00, for a total transaction of $86,040.00. Following the transaction, the director 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.40% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on TTEK shares. Robert W. Baird raised their price target on Tetra Tech from $31.00 to $33.00 and gave the company a "neutral" rating in a research note on Thursday, May 8th. Wall Street Zen upgraded Tetra Tech from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, KeyCorp raised their price target on Tetra Tech from $41.00 to $43.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Two analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $41.67.

Tetra Tech Stock Down 0.2%

NASDAQ TTEK traded down $0.07 during trading on Thursday, hitting $36.91. The company's stock had a trading volume of 2,372,721 shares, compared to its average volume of 2,408,710. 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 company has a market cap of $9.70 billion, a PE ratio of 46.14 and a beta of 0.92. The business's 50 day simple moving average is $36.65 and its 200-day simple moving average is $33.40. Tetra Tech, Inc. has a fifty-two week low of $27.27 and a fifty-two week high of $51.20.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last announced 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 firm had revenue of $1.15 billion during the quarter, compared to analysts' expectations of $1.15 billion. During the same period last year, the business posted $1.59 earnings per share. The company's revenue for the quarter 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. On average, equities analysts anticipate that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Announces Dividend

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

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.