Tetra Tech (NASDAQ:TTEK) Shares Decline by 4.9% - Here's What Happened

Tetra Tech, Inc. (NASDAQ:TTEK) experienced a notable decline in its stock price on Thursday, falling by 4.9%. The shares dropped to a low of $40.16 before closing at $39.75. During mid-day trading, a total of approximately 337,132 shares changed hands, which is a significant decrease of 76% from the average daily volume of 1,395,518 shares. This decline follows a previous closing price of $41.78.

Analyst Ratings Changes

Recently, several research firms provided updates regarding Tetra Tech. For instance, StockNews.com downgraded the stock from a "buy" to a "hold" rating on November 15th. In a separate report, KeyCorp lowered its price target for Tetra Tech from $56.00 to $49.00, while maintaining an "overweight" rating. Robert W. Baird also raised its target price from $46.00 to $47.00, assigning the stock a "neutral" rating. Additionally, Royal Bank of Canada reiterated an "outperform" rating with a price target set at $52.00. According to MarketBeat.com, two analysts currently hold a "hold" rating, while four have assigned a "buy" rating, resulting in a consensus rating of "Moderate Buy" and a consensus price target of $49.32.

Check Out Our Latest Stock Report on Tetra Tech

Tetra Tech Stock Performance

The company boasts a market capitalization of $10.62 billion, with a price-to-earnings ratio of 32.15 and a beta of 0.90. Tetra Tech's financial metrics include a debt-to-equity ratio of 0.44, a quick ratio of 1.25, and a current ratio also at 1.25. The stock has seen a 50-day simple moving average of $41.14 and a 200-day simple moving average of $44.32.

Tetra Tech Dividend Announcement

Recently, Tetra Tech announced a quarterly dividend, which was issued on December 13th. Shareholders on record as of November 27th received a dividend of $0.058 per share, with the ex-dividend date being the same day. This dividend translates to an annualized payout of $0.23, yielding approximately 0.59%. Tetra Tech's dividend payout ratio stands at 18.67%.

Institutional Inflows and Outflows

Various institutional investors have been active in buying and selling Tetra Tech shares. Allworth Financial LP increased its position in the third quarter by a remarkable 629.3%, acquiring an additional 472 shares to reach 547 shares in total. Similarly, LGT Financial Advisors LLC raised its holdings by 400%, now owning 555 shares after acquiring 444 more during the same period. Venturi Wealth Management LLC made an impressive move, increasing its ownership by 3,261.1% in the third quarter, totaling 605 shares. Canton Hathaway LLC and USA Financial Formulas also increased their stakes by 400% and 332.3%, respectively. Currently, institutional investors hold approximately 93.89% of Tetra Tech's shares.

About Tetra Tech

Tetra Tech, Inc. specializes in consulting and engineering services, both domestically and internationally. The company operates through two main segments: the Government Services Group (GSG) and the Commercial/International Services Group (CIG). The GSG segment focuses on early data collection, data analysis, science and engineering services, and climate change and energy management consulting.

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