Penobscot Investment Management Company Inc. Has $4.36 Million Position in Tetra Tech, Inc. $TTEK

Penobscot Investment Management Company Inc. lowered its holdings in Tetra Tech, Inc. (NASDAQ:TTEK) by 7.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 121,355 shares of the industrial products company’s stock after selling 9,750 shares during the quarter. Penobscot Investment Management Company Inc.’s holdings in Tetra Tech were worth $4,364,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Ethic Inc. boosted its holdings in shares of 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 buying an additional 334 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised 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 valued at $74,000 after acquiring an additional 377 shares during the period. Fifth Third Bancorp increased its position in shares of Tetra Tech by 9.7% during the first quarter. Fifth Third Bancorp now owns 5,351 shares of the industrial products company’s stock valued at $157,000 after buying an additional 475 shares during the period. TT International Asset Management LTD increased its position in shares of Tetra Tech by 3.1% during the first quarter. TT International Asset Management LTD now owns 16,993 shares of the industrial products company’s stock valued at $497,000 after buying an additional 515 shares during the period. Finally, Cullen Frost Bankers Inc. increased its position in shares of Tetra Tech by 30.9% during the first quarter. Cullen Frost Bankers Inc. now owns 2,335 shares of the industrial products company’s stock valued at $68,000 after buying an additional 551 shares during the period. Institutional investors and hedge funds own 93.89% of the company’s stock.

Tetra Tech Price Performance

Shares of NASDAQ:TTEK opened at $33.74 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 debt-to-equity ratio of 0.50, a current ratio of 1.18 and a quick ratio of 1.18. The business has a fifty day moving average price of $35.88 and a 200-day moving average price of $34.39. The company has a market capitalization of $8.87 billion, a PE ratio of 42.18 and a beta of 0.94.

Tetra Tech (NASDAQ:TTEK) last issued its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.43 earnings per share for the quarter, beating 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 the consensus estimate of $1.15 billion. During the same period last year, the company earned $1.59 earnings per share. The company’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. As a group, equities analysts expect that Tetra Tech, Inc. will post 1.37 EPS for the current fiscal year.

Tetra Tech Dividend Announcement

The firm also recently disclosed 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 annualized dividend and a dividend yield of 0.8%. Tetra Tech’s dividend payout ratio (DPR) is 32.50%.

Insider Activity at Tetra Tech

In related news, Director Gary Birkenbeuel sold 2,390 shares of the 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 sale, the director directly owned 37,725 shares of the company’s stock, valued at $1,358,100. This trade represents a 5.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.40% of the stock is owned by company insiders.

Analysts Set New Price Targets

TTEK has been the subject of several recent analyst reports. Northcoast Research reissued a “neutral” rating on shares of Tetra Tech in a report on Wednesday. KeyCorp upped their target price on Tetra Tech from $41.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, August 1st. Weiss Ratings reissued a “hold (c)” rating on shares of Tetra Tech in a research note on Saturday, September 27th. Royal Bank Of Canada set a $47.00 price objective on Tetra Tech and gave the company an “outperform” rating in a research note on Monday. Finally, Wall Street Zen downgraded Tetra Tech from a “buy” rating to a “hold” rating in a report on Friday. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $41.00.

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.