Bank of New York Mellon Corp Has $35.44 Million Position in TIC Solutions, Inc $TIC

Key Points

• Bank of New York Mellon increased its TIC Solutions stake by 8.2% in the first quarter, bringing its holdings to 5.39 million shares worth approximately $35.44 million, or 2.44% of the company.
• Analyst sentiment is mixed, with two Buy, three Hold and two Sell ratings. The consensus rating is Hold, with an $11.50 price target.
• TIC shares opened at $7.11, below their 50-day and 200-day moving averages of $8.02 and $8.71, respectively, and remain well below their 52-week high of $14.94.

Bank of New York Mellon Corp lifted its stake in shares of TIC Solutions, Inc (NYSE:TIC - Free Report) by 8.2% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 5,385,942 shares of the company's stock after buying an additional 406,255 shares during the quarter. Bank of New York Mellon Corp owned about 2.44% of TIC Solutions worth $35,440,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. National Bank of Canada FI bought a new position in TIC Solutions in the 3rd quarter valued at about $53,000. Principal Financial Group Inc. acquired a new stake in TIC Solutions during the 1st quarter worth approximately $69,000. Tower Research Capital LLC TRC acquired a new stake in TIC Solutions during the 2nd quarter worth approximately $82,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in TIC Solutions by 10.1% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,688 shares of the company's stock valued at $83,000 after purchasing an additional 1,165 shares during the period. Finally, BNP Paribas Financial Markets bought a new stake in TIC Solutions in the 2nd quarter valued at $97,000.

Analyst Ratings Changes

Several research analysts have weighed in on TIC shares. JPMorgan Chase & Co. increased their price objective on TIC Solutions from $7.00 to $9.00 and gave the stock an "underweight" rating in a research report on Thursday, May 7th. Zacks Research raised shares of TIC Solutions from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 15th. Weiss Ratings restated a "sell (d-)" rating on shares of TIC Solutions in a research note on Tuesday, June 9th. Robert W. Baird set a $11.00 price target on shares of TIC Solutions in a research report on Thursday, May 7th. Finally, Roth Capital reiterated a "buy" rating and issued a $11.50 price objective on shares of TIC Solutions in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $11.50.

TIC Solutions Stock Performance

NYSE TIC opened at $7.11 on Monday. TIC Solutions, Inc has a 1 year low of $6.36 and a 1 year high of $14.94. The firm's 50 day simple moving average is $8.02 and its 200 day simple moving average is $8.71. The company has a current ratio of 3.06, a quick ratio of 3.06 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of -13.67 and a beta of 2.81.

TIC Solutions Profile

Acuren Group Inc NYSEAMERICAN: TIC is a leading provider of non‐destructive testing (NDT), inspection, engineering and consulting services to the energy, petrochemical, manufacturing and infrastructure sectors. The company employs a range of advanced testing techniques—such as ultrasonic, radiographic, magnetic particle, liquid penetrant, eddy current and acoustic emission—to evaluate the integrity of pressure vessels, pipelines, storage tanks and other critical assets. By combining field inspections with laboratory analysis, Acuren helps clients identify defects, prevent equipment failures and meet regulatory requirements.

In addition to core NDT capabilities, Acuren offers specialty engineering and consulting services including fitness‐for‐service assessments, corrosion under insulation surveys, mechanical integrity programs, failure analysis and field machining.

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