Envestnet Portfolio Solutions Inc. has significantly reduced its stake in Tetra Tech, Inc. (NASDAQ:TTEK) by selling 42,216 shares during the third quarter of 2023. According to the company’s recent Form 13F filing with the Securities and Exchange Commission (SEC), Envestnet now holds only 8,688 shares of Tetra Tech, valued at approximately $290,000.
This divestment reflects a substantial decrease of 82.9% in Envestnet’s holdings. The move comes amid a broader trend as several institutional investors adjust their positions in the industrial products sector. Sands Capital Management LLC, for instance, has increased its stake in Tetra Tech by 26.5%, now owning over 5.2 million shares valued at $187 million. Similarly, Corient Private Wealth LLC has reported an increase of 84.9% in its holdings, reaching approximately $147 million in value.
In addition, Norges Bank acquired a new position in Tetra Tech during the second quarter, estimated at around $104.8 million. Other notable changes include Ninety One UK Ltd, which boosted its holdings by 2.8% to own about 2.87 million shares. M&G PLC also made headlines by growing its position by 150.1%, now possessing 2.42 million shares valued at approximately $87 million. Collectively, institutional investors own approximately 93.89% of Tetra Tech’s stock.
Market Performance and Analyst Insights
As of Monday, shares of Tetra Tech were trading at $37.66, down 1.5% from the previous session. Over the past year, the company’s stock has seen a 12-month low of $27.27 and a high of $40.88, indicating notable volatility in its market performance. Tetra Tech currently holds a market capitalization of $9.84 billion, a price-to-earnings (PE) ratio of 28.32, and a beta of 0.91, suggesting it is relatively stable compared to the overall market.
The company recently reported its earnings results, revealing earnings per share of $0.35, surpassing analysts’ expectations of $0.31 by $0.04. Revenues for the quarter reached $1.21 billion, significantly exceeding projected revenues of $974.28 million. Despite these positive figures, Tetra Tech’s quarterly revenue represented a decline of 13.4% compared to the same quarter last year.
Looking ahead, Tetra Tech has set its guidance for the second quarter of 2026 at earnings per share between $0.300 and $0.330, with a full-year forecast of between $1.460 and $1.560. Analysts are predicting an overall earnings per share of $1.37 for the current fiscal year.
Dividend Announcement and Company Overview
In further developments, Tetra Tech has announced a quarterly dividend of $0.065 per share, set to be paid on February 27, 2026. Shareholders on record as of February 12 will receive this dividend, translating to an annualized yield of 0.7%. The company’s payout ratio currently stands at 19.55%.
Tetra Tech, headquartered in Pasadena, California, is recognized as a leading provider of consulting and engineering services across various sectors including water, environment, infrastructure, and energy. The company specializes in end-to-end solutions that encompass planning, design, engineering, program management, and construction management. Its multidisciplinary teams address complex challenges in areas such as water resources, environmental remediation, and sustainable infrastructure.
As the market continues to evolve, Tetra Tech remains a key player in the industrial sector, attracting significant interest from institutional investors and analysts alike. For those looking to track further developments, Tetra Tech’s stock continues to be closely monitored among hedge funds and investment groups.
