NewEdge Wealth LLC Invests $8.03 Million in TIC Solutions, Inc $TIC

Key Points

• NewEdge Wealth acquired 992,629 shares of TIC Solutions during the second quarter, representing an investment of approximately $8.03 million and about 0.45% of the company. Several other institutional investors also initiated or increased positions.
• TIC Solutions reported quarterly EPS of $0.14, exceeding the $0.10 consensus estimate, on revenue of $584.35 million. Despite the earnings beat, the company posted a negative net margin of 5.64% and negative return on equity of 2.30%.
• Analyst sentiment remains mixed, with three Buy, two Hold and two Sell ratings. The stock has a consensus Hold rating and an average price target of $11.60, compared with its reported price of $9.19.

NewEdge Wealth LLC acquired a new stake in TIC Solutions, Inc (NYSE:TIC - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 992,629 shares of the company's stock, valued at approximately $8,030,000. NewEdge Wealth LLC owned about 0.45% of TIC Solutions as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in TIC. K2 Principal Fund L.P. purchased a new stake in TIC Solutions during the second quarter worth approximately $755,000. Pallas Capital Advisors LLC purchased a new position in TIC Solutions in the second quarter valued at approximately $112,000. Deutsche Bank AG purchased a new position in TIC Solutions in the second quarter valued at approximately $1,510,000. Bank of New York Mellon Corp acquired a new stake in TIC Solutions during the second quarter worth approximately $4,468,000. Finally, Handelsbanken Fonder AB raised its holdings in TIC Solutions by 10.2% during the second quarter. Handelsbanken Fonder AB now owns 45,200 shares of the company's stock worth $366,000 after purchasing an additional 4,200 shares in the last quarter.

TIC Solutions Stock Performance

Shares of TIC opened at $9.19 on Thursday. The company's 50 day simple moving average is $8.15 and its 200-day simple moving average is $8.43. The firm has a market cap of $2.00 billion, a PE ratio of -15.84 and a beta of 2.83. TIC Solutions, Inc has a 12-month low of $6.36 and a 12-month high of $14.94. The company has a current ratio of 2.91, a quick ratio of 2.91 and a debt-to-equity ratio of 0.76.

TIC Solutions (NYSE:TIC - Get Free Report) last released its quarterly earnings results on Thursday, August 6th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.10 by $0.04. The firm had revenue of $584.35 million during the quarter. TIC Solutions had a negative net margin of 5.64% and a negative return on equity of 2.30%. As a group, equities analysts predict that TIC Solutions, Inc will post 0.31 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on TIC shares. Weiss Ratings restated a "sell (d-)" rating on shares of TIC Solutions in a report on Tuesday, June 9th. Roth Capital reiterated a "buy" rating and set a $11.50 price target on shares of TIC Solutions in a research note on Thursday, May 7th. UBS Group upgraded shares of TIC Solutions from a "neutral" rating to a "buy" rating and upped their price objective for the company from $11.00 to $12.50 in a research note on Tuesday, August 11th. Robert W. Baird set a $10.00 price objective on shares of TIC Solutions in a research note on Friday, August 7th. Finally, Zacks Research raised TIC Solutions from a "strong sell" rating to a "hold" rating in a report on Wednesday, July 15th. Three investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $11.60.

TIC Solutions Company 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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