Tetra Tech, Inc. $TTEK Stake Increased by VELA Investment Management LLC

Key Points

• VELA Investment Management LLC has increased its stake in Tetra Tech, Inc. by 32.5% during the second quarter, owning 96,363 shares valued at approximately $3.47 million.
• Several institutional investors made notable changes to their positions in Tetra Tech, with 93.89% of the company's stock now owned by institutional investors.
• The company recently reported earnings of $0.43 per share, exceeding estimates, and set FY 2025 guidance between $1.490 and $1.540 EPS.

VELA Investment Management LLC increased its stake in Tetra Tech, Inc. (NASDAQ:TTEK - Free Report) by 32.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 96,363 shares of the industrial products company's stock after buying an additional 23,632 shares during the period. VELA Investment Management LLC's holdings in Tetra Tech were worth $3,465,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in TTEK. Praxis Investment Management Inc. acquired a new position in Tetra Tech in the first quarter worth $348,000. Cambridge Investment Research Advisors Inc. boosted its holdings in Tetra Tech by 39.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 18,496 shares of the industrial products company's stock worth $541,000 after purchasing an additional 5,275 shares during the period. FORA Capital LLC acquired a new position in Tetra Tech in the first quarter worth $442,000. Summit Trail Advisors LLC acquired a new position in Tetra Tech in the first quarter worth $590,000. Finally, Catalyst Capital Advisors LLC boosted its holdings in Tetra Tech by 16.2% in the first quarter. Catalyst Capital Advisors LLC now owns 72,960 shares of the industrial products company's stock worth $2,134,000 after purchasing an additional 10,159 shares during the period. Institutional investors own 93.89% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on TTEK shares. National Bank Financial started coverage on shares of Tetra Tech in a report on Wednesday, October 8th. They issued an "outperform" rating and a $41.00 price objective for the company. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Tetra Tech in a report on Wednesday, October 8th. Wall Street Zen downgraded shares of Tetra Tech from a "buy" rating to a "hold" rating in a report on Friday, October 3rd. KeyCorp lifted their price objective on shares of Tetra Tech from $41.00 to $43.00 and gave the stock an "overweight" rating in a report on Friday, August 1st. Finally, Royal Bank Of Canada set a $47.00 price objective on shares of Tetra Tech and gave the stock an "outperform" rating in a report on Monday, September 29th. Three research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $41.00.

Insiders Place Their Bets

In related news, Director Gary Birkenbeuel sold 2,390 shares of the company's stock in a transaction dated Thursday, August 14th. The shares were sold at an average price of $36.00, for a total value of $86,040.00. Following the completion of the sale, the director owned 37,725 shares of the company's stock, valued at $1,358,100. This represents a 5.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.40% of the stock is owned by insiders.

Tetra Tech Stock Performance

Shares of TTEK opened at $32.80 on Friday. Tetra Tech, Inc. has a 1 year low of $27.27 and a 1 year high of $51.20. The company has a market cap of $8.62 billion, a price-to-earnings ratio of 41.00 and a beta of 0.94. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.18 and a current ratio of 1.18. The firm has a fifty day moving average of $35.30 and a 200-day moving average of $34.66.

Tetra Tech (NASDAQ:TTEK - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.06. Tetra Tech had a net margin of 3.94% and a return on equity of 24.70%. The company 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 company 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. As a group, equities analysts anticipate that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Dividend Announcement

The business also recently disclosed 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 of this dividend was Friday, August 15th. This represents a $0.26 annualized dividend and a yield of 0.8%. Tetra Tech's dividend 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.