NewEdge Wealth LLC Cuts Position in TIC Solutions, Inc $TIC

NewEdge Wealth LLC lowered its holdings in TIC Solutions, Inc (NYSE:TIC – Free Report) by 25.6% in the first quarter, Holdings Channel.com reports. The fund owned 1,039,553 shares of the company’s stock after selling 357,565 shares during the quarter. NewEdge Wealth LLC’s holdings in TIC Solutions were worth $6,840,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in TIC. National Bank of Canada FI acquired a new position in shares of TIC Solutions during the 3rd quarter worth $53,000. Principal Financial Group Inc. acquired a new stake in shares of TIC Solutions in the first quarter valued at about $69,000. Tower Research Capital LLC TRC acquired a new stake in shares of TIC Solutions in the second quarter valued at about $82,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in TIC Solutions by 10.1% during the first quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 12,688 shares of the company’s stock worth $83,000 after buying an additional 1,165 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new stake in TIC Solutions during the second quarter worth about $97,000.

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TIC Solutions Price Performance

NYSE:TIC opened at $6.96 on Friday. TIC Solutions, Inc has a 12-month low of $6.36 and a 12-month high of $14.94. The firm has a market cap of $1.54 billion, a price-to-earnings ratio of -13.39 and a beta of 2.81. The company’s 50-day moving average is $8.05 and its two-hundred day moving average is $8.73. The company has a current ratio of 3.06, a quick ratio of 3.06 and a debt-to-equity ratio of 0.74.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TIC. Roth Capital restated a “buy” rating and set a $11.50 target price on shares of TIC Solutions in a research report on Thursday, May 7th. Weiss Ratings reiterated a “sell (d-)” rating on shares of TIC Solutions in a research report on Tuesday, June 9th. UBS Group boosted their price target on TIC Solutions from $8.00 to $11.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Robert W. Baird set a $11.00 price target on TIC Solutions in a report on Thursday, May 7th. Finally, JPMorgan Chase & Co. raised their price objective on TIC Solutions from $7.00 to $9.00 and gave the company an “underweight” rating in a research note on Thursday, May 7th. Two research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $11.50.

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About TIC Solutions

(Free Report)

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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