Novem Group Purchases 754 Shares of Tetra Tech, Inc. $TTEK

Novem Group boosted its position in shares of Tetra Tech, Inc. (NASDAQ:TTEK) by 5.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,427 shares of the industrial products company’s stock after purchasing an additional 754 shares during the period. Novem Group’s holdings in Tetra Tech were worth $555,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Ethic Inc. grew its stake in Tetra Tech by 1.2% in the 1st quarter. Ethic Inc. now owns 28,745 shares of the industrial products company’s stock worth $849,000 after acquiring an additional 334 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its stake in Tetra Tech by 22.4% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 2,062 shares of the industrial products company’s stock worth $74,000 after acquiring an additional 377 shares in the last quarter. Fifth Third Bancorp grew its stake in Tetra Tech by 9.7% in the 1st quarter. Fifth Third Bancorp now owns 5,351 shares of the industrial products company’s stock worth $157,000 after acquiring an additional 475 shares in the last quarter. TT International Asset Management LTD grew its stake in Tetra Tech by 3.1% in the 1st quarter. TT International Asset Management LTD now owns 16,993 shares of the industrial products company’s stock worth $497,000 after acquiring an additional 515 shares in the last quarter. Finally, Cullen Frost Bankers Inc. grew its stake in Tetra Tech by 30.9% in the 1st quarter. Cullen Frost Bankers Inc. now owns 2,335 shares of the industrial products company’s stock worth $68,000 after acquiring an additional 551 shares in the last quarter. 93.89% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Gary Birkenbeuel sold 2,390 shares of the stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $36.00, for a total transaction 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 legal filing with the SEC, which is available at this link. 0.40% of the stock is owned by insiders.

Tetra Tech Price Performance

NASDAQ TTEK opened at $33.33 on Friday. 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’s 50 day moving average price is $36.34 and its 200-day moving average price is $34.23. Tetra Tech, Inc. has a 52-week low of $27.27 and a 52-week high of $51.20. The company has a market cap of $8.76 billion, a PE ratio of 41.66 and a beta of 0.93.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings data 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 net margin of 3.94% and a return on equity of 24.70%. The firm had revenue of $1.15 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the firm earned $1.59 earnings per share. The company’s quarterly 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. Sell-side analysts forecast 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 given a dividend of $0.065 per share. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.26 dividend on an annualized basis and a yield of 0.8%. Tetra Tech’s dividend payout ratio is presently 32.50%.

Analyst Upgrades and Downgrades

TTEK has been the topic of a number of research analyst reports. KeyCorp upped their target price on shares of Tetra Tech from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Wall Street Zen upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a research note on Saturday, August 2nd. Two equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, Tetra Tech currently has an average rating of “Moderate Buy” and an average price target of $41.67.

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.