TIC Solutions, Inc $TIC Shares Acquired by Bank of America Corp DE

Key Points

• Bank of America increased its TIC Solutions stake by 219.2% in the first quarter, acquiring 458,431 additional shares for a total of 667,523 shares valued at approximately $4.4 million.
• Several institutional investors also expanded their positions, including Swedbank, Dimensional Fund Advisors and Bank of New York Mellon. TIC reported quarterly EPS of $0.14, exceeding the $0.10 consensus estimate, on revenue of $584.35 million.
• Analyst sentiment is mixed but improving: UBS upgraded the stock to “buy,” while JPMorgan raised its rating to “neutral.” TIC has an average “hold” rating and a consensus price target of $12.00, compared with a recent price of $9.52.

Bank of America Corp DE boosted its holdings in TIC Solutions, Inc (NYSE:TIC - Free Report) by 219.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 667,523 shares of the company's stock after acquiring an additional 458,431 shares during the period. Bank of America Corp DE owned 0.30% of TIC Solutions worth $4,392,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in TIC Solutions during the fourth quarter valued at about $2,246,000. Quantinno Capital Management LP raised its position in shares of TIC Solutions by 605.5% in the first quarter. Quantinno Capital Management LP now owns 177,066 shares of the company's stock valued at $1,165,000 after purchasing an additional 151,968 shares during the period. Swedbank AB lifted its stake in shares of TIC Solutions by 7.0% in the first quarter. Swedbank AB now owns 4,380,000 shares of the company's stock worth $28,820,000 after buying an additional 286,000 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of TIC Solutions by 9.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 3,573,446 shares of the company's stock worth $23,514,000 after buying an additional 308,840 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in TIC Solutions by 8.2% in the 1st quarter. Bank of New York Mellon Corp now owns 5,385,942 shares of the company's stock valued at $35,440,000 after buying an additional 406,255 shares during the last quarter.

TIC Solutions Stock Performance

NYSE:TIC opened at $9.52 on Friday. The stock has a market capitalization of $2.08 billion, a P/E ratio of -16.41 and a beta of 2.83. TIC Solutions, Inc has a 1 year low of $6.36 and a 1 year high of $14.94. The firm has a 50 day moving average of $8.31 and a 200-day moving average of $8.43. 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 posted its quarterly earnings data on Thursday, August 6th. The company reported $0.14 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.04. TIC Solutions had a negative return on equity of 2.30% and a negative net margin of 5.64%.The company had revenue of $584.35 million for the quarter. As a group, sell-side analysts anticipate that TIC Solutions, Inc will post 0.29 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TIC shares. Robert W. Baird set a $10.00 target price on shares of TIC Solutions in a research report on Friday, August 7th. UBS Group raised TIC Solutions from a "neutral" rating to a "buy" rating and increased their price objective for the company from $11.00 to $12.50 in a research report on Tuesday, August 11th. Weiss Ratings restated a "sell (d-)" rating on shares of TIC Solutions in a research note on Tuesday, June 9th. Zacks Research upgraded shares of TIC Solutions from a "strong sell" rating to a "hold" rating in a research note on Wednesday, July 15th. Finally, JPMorgan Chase & Co. upgraded shares of TIC Solutions from an "underweight" rating to a "neutral" rating and raised their price target for the stock from $9.00 to $11.00 in a research report on Friday, August 21st. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, TIC Solutions presently has an average rating of "Hold" and a consensus price target of $12.00.

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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