TIC Solutions, Inc $TIC Shares Sold by NewEdge Wealth LLC

Key Points

• NewEdge Wealth LLC cut its stake in TIC Solutions by 25.6% in the first quarter, selling 357,565 shares and leaving it with 1,039,553 shares valued at about $6.84 million.
• Institutional activity was mixed, with firms like Goldman Sachs, JPMorgan, Legal & General, Rhumbline Advisers and Prudential all establishing or expanding positions in the company.
• Analysts are cautious on TIC Solutions overall: the stock has a consensus Hold rating, with an average price target of $11.50.

NewEdge Wealth LLC lowered its stake in TIC Solutions, Inc (NYSE:TIC - Free Report) by 25.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,039,553 shares of the company's stock after selling 357,565 shares during the period. NewEdge Wealth LLC owned about 0.47% of TIC Solutions worth $6,840,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Goldman Sachs Group Inc. acquired a new position in TIC Solutions during the 1st quarter worth approximately $4,429,000. JPMorgan Chase & Co. raised its holdings in shares of TIC Solutions by 1,512.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 48,946 shares of the company's stock valued at $540,000 after purchasing an additional 45,910 shares in the last quarter. Legal & General Group Plc purchased a new stake in shares of TIC Solutions during the 2nd quarter worth $666,000. Rhumbline Advisers purchased a new stake in shares of TIC Solutions during the 2nd quarter worth $1,531,000. Finally, Prudential Financial Inc. acquired a new position in shares of TIC Solutions during the second quarter worth $132,000.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Zacks Research raised TIC Solutions from a "strong sell" rating to a "hold" rating in a research report on Wednesday, July 15th. UBS Group upped their price target on TIC Solutions from $8.00 to $11.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. JPMorgan Chase & Co. increased their price target on shares of TIC Solutions from $7.00 to $9.00 and gave the company an "underweight" rating in a research note on Thursday, May 7th. Roth Capital reissued a "buy" rating and set a $11.50 price objective on shares of TIC Solutions in a report on Thursday, May 7th. Finally, Robert W. Baird set a $11.00 price objective on shares of TIC Solutions in a research report on Thursday, May 7th. Two analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, TIC Solutions has a consensus rating of "Hold" and an average price target of $11.50.

TIC Solutions Price Performance

Shares of TIC opened at $6.96 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 3.06 and a current ratio of 3.06. TIC Solutions, Inc has a fifty-two week low of $6.36 and a fifty-two week high of $14.94. The firm has a 50-day simple moving average of $8.05 and a 200-day simple moving average of $8.73. The company has a market capitalization of $1.54 billion, a price-to-earnings ratio of -13.39 and a beta of 2.81.

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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