Cullen Frost Bankers Inc. Raises Stake in Tetra Tech, Inc. $TTEK

Cullen Frost Bankers Inc. raised its position in Tetra Tech, Inc. (NASDAQ:TTEK) by 31.0% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,059 shares of the industrial products company’s stock after acquiring an additional 724 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Tetra Tech were worth $110,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC purchased a new stake in shares of Tetra Tech during the 4th quarter worth approximately $225,000. Cambridge Investment Research Advisors Inc. lifted its position in shares of Tetra Tech by 39.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 18,496 shares of the industrial products company’s stock worth $541,000 after buying an additional 5,275 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its position in shares of Tetra Tech by 0.4% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 582,409 shares of the industrial products company’s stock worth $17,035,000 after buying an additional 2,125 shares during the last quarter. Perpetual Ltd lifted its position in shares of Tetra Tech by 38.1% during the 1st quarter. Perpetual Ltd now owns 296,938 shares of the industrial products company’s stock worth $8,685,000 after buying an additional 81,896 shares during the last quarter. Finally, Artemis Investment Management LLP purchased a new stake in shares of Tetra Tech during the 1st quarter worth approximately $3,063,000. Hedge funds and other institutional investors own 93.89% of the company’s stock.

Tetra Tech Stock Up 0.1%

TTEK stock opened at $33.78 on Friday. The company has a fifty day moving average price of $34.93 and a 200 day moving average price of $34.88. Tetra Tech, Inc. has a 12 month low of $27.27 and a 12 month high of $51.20. The company has a market cap of $8.88 billion, a price-to-earnings ratio of 42.23 and a beta of 0.94. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.18 and a quick ratio of 1.18.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings results on Wednesday, July 30th. The industrial products company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.37 by $0.06. The firm had revenue of $1.15 billion during the quarter, compared to the consensus estimate of $1.15 billion. Tetra Tech had a net margin of 3.94% and a return on equity of 24.70%. Tetra Tech’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.59 EPS. 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 expect that Tetra Tech, Inc. will post 1.37 earnings per share for the current year.

Tetra Tech Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 29th. Shareholders of record on Friday, August 15th were given a dividend of $0.065 per share. The ex-dividend date 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%.

Insider Buying and Selling

In other Tetra Tech news, Director Gary Birkenbeuel sold 2,390 shares of the company’s stock in a transaction 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 transaction, the director owned 37,725 shares in the company, valued at approximately $1,358,100. This represents a 5.96% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

TTEK has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Tetra Tech from a “hold” rating to a “buy” rating in a research report on Saturday. Northcoast Research restated a “neutral” rating on shares of Tetra Tech in a research report on Wednesday, October 1st. KeyCorp boosted their price objective on shares of Tetra Tech from $41.00 to $43.00 and gave the stock an “overweight” rating in a research report on Friday, August 1st. National Bank Financial started coverage on shares of Tetra Tech in a research report on Wednesday, October 8th. They issued an “outperform” rating and a $41.00 price target for the company. Finally, Royal Bank Of Canada set a $47.00 price target on shares of Tetra Tech and gave the company an “outperform” rating in a research report on Monday, September 29th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $41.00.

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.