Swedbank AB Has $28.82 Million Stock Position in TIC Solutions, Inc $TIC

Key Points

• Swedbank AB increased its stake in TIC Solutions by 7.0% in the first quarter, adding 286,000 shares and bringing its total holding to 4.38 million shares worth about $28.82 million.
• TIC Solutions stock recently traded at $7.93, near the lower end of its 52-week range of $6.36 to $14.94, with a market cap of $1.75 billion and a beta of 2.81.
• Wall Street sentiment is mixed but cautious: analysts have a consensus rating of “Reduce” with an average price target of $11.50, even though some firms still have buy ratings on the stock.

Swedbank AB grew its holdings in TIC Solutions, Inc (NYSE:TIC - Free Report) by 7.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,380,000 shares of the company's stock after acquiring an additional 286,000 shares during the quarter. Swedbank AB owned 1.98% of TIC Solutions worth $28,820,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. FNY Investment Advisers LLC bought a new position in TIC Solutions during the third quarter worth about $33,000. National Bank of Canada FI bought a new stake in TIC Solutions in the 3rd quarter valued at about $53,000. Tower Research Capital LLC TRC bought a new stake in TIC Solutions in the 2nd quarter valued at about $82,000. Dauntless Investment Group LLC acquired a new position in shares of TIC Solutions during the 3rd quarter worth approximately $110,000. Finally, BNP Paribas Financial Markets acquired a new position in shares of TIC Solutions during the 2nd quarter worth approximately $97,000.

TIC Solutions Stock Performance

Shares of NYSE:TIC opened at $7.93 on Thursday. TIC Solutions, Inc has a 1 year low of $6.36 and a 1 year high of $14.94. The stock has a market capitalization of $1.75 billion, a price-to-earnings ratio of -15.26 and a beta of 2.81. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.06 and a quick ratio of 3.06. The company's 50 day simple moving average is $8.57 and its 200 day simple moving average is $8.98.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. Robert W. Baird set a $11.00 price target on shares of TIC Solutions in a research report on Thursday, May 7th. Zacks Research lowered TIC Solutions from a "hold" rating to a "strong sell" rating in a research note on Monday, June 15th. Roth Capital restated a "buy" rating and set a $11.50 price objective on shares of TIC Solutions in a research note on Thursday, May 7th. JPMorgan Chase & Co. lifted their price objective on TIC Solutions from $7.00 to $9.00 and gave the company an "underweight" rating in a report on Thursday, May 7th. Finally, UBS Group upped their target price on TIC Solutions from $8.00 to $11.00 and gave the company a "neutral" rating in a research report on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Reduce" and an average price target of $11.50.

About TIC Solutions

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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