Tetra Tech (NASDAQ:TTEK) Shares Down 7.6% – Here’s What Happened

Tetra Tech, Inc. (NASDAQ:TTEK)’s stock price dropped 7.6% during mid-day trading on Wednesday . The company traded as low as $26.52 and last traded at $26.5150. Approximately 2,535,064 shares traded hands during mid-day trading, a decline of 13% from the average daily volume of 2,909,305 shares. The stock had previously closed at $28.71.

Analyst Upgrades and Downgrades

TTEK has been the subject of several recent analyst reports. Robert W. Baird set a $35.00 target price on Tetra Tech in a research note on Thursday, April 30th. Weiss Ratings restated a “hold (c)” rating on shares of Tetra Tech in a research report on Monday, April 20th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.00.

Tetra Tech Stock Down 5.7%

The company has a market capitalization of $7.02 billion, a price-to-earnings ratio of 16.20 and a beta of 1.00. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.25 and a quick ratio of 1.25. The firm’s fifty day moving average price is $31.74 and its 200-day moving average price is $34.01.

Tetra Tech (NASDAQ:TTEK) last released its quarterly earnings data on Wednesday, April 29th. The industrial products company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.31 by $0.03. Tetra Tech had a return on equity of 22.89% and a net margin of 8.58%.The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1 billion. During the same quarter last year, the business posted $0.33 EPS. Tetra Tech’s revenue for the quarter was down 7.7% on a year-over-year basis. Tetra Tech has set its FY 2026 guidance at 1.500-1.580 EPS and its Q3 2026 guidance at 0.38-0.41 EPS. Sell-side analysts expect that Tetra Tech, Inc. will post 1.53 earnings per share for the current fiscal year.

Tetra Tech Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 2nd. Stockholders of record on Thursday, May 14th will be paid a $0.072 dividend. This is an increase from Tetra Tech’s previous quarterly dividend of $0.07. This represents a $0.29 annualized dividend and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, May 14th. Tetra Tech’s payout ratio is currently 15.57%.

Institutional Investors Weigh In On Tetra Tech

Hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC acquired a new position in Tetra Tech in the 4th quarter valued at approximately $225,000. AQR Capital Management LLC grew its stake in shares of Tetra Tech by 451.6% in the first quarter. AQR Capital Management LLC now owns 145,077 shares of the industrial products company’s stock worth $4,204,000 after purchasing an additional 118,774 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Tetra Tech by 136.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,658,349 shares of the industrial products company’s stock worth $48,507,000 after purchasing an additional 957,050 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in Tetra Tech by 136.1% in the first quarter. Geneos Wealth Management Inc. now owns 1,303 shares of the industrial products company’s stock valued at $38,000 after purchasing an additional 751 shares during the period. Finally, EverSource Wealth Advisors LLC raised its position in Tetra Tech by 754.8% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,855 shares of the industrial products company’s stock worth $67,000 after purchasing an additional 1,638 shares during the last quarter. 93.89% of the stock is currently owned by institutional investors and hedge funds.

About Tetra Tech

Tetra Tech, Inc is a leading provider of consulting and engineering services with a focus on water, environment, infrastructure, resource management and energy sectors. Headquartered in Pasadena, California, the company delivers end-to-end solutions that encompass planning, design, engineering, program management and construction management. Tetra Tech’s multidisciplinary teams integrate science, technology and advisory services to address complex challenges in areas such as water resources, environmental remediation, sustainable infrastructure and renewable energy.

The company’s core offerings include environmental assessments and cleanup, water treatment and reuse, coastal and marine engineering, climate resilience planning, and engineering design for transportation and built environments.