Permian Investment Partners LP Makes New Investment in TIC Solutions, Inc $TIC

Permian Investment Partners LP purchased a new stake in TIC Solutions, Inc (NYSE:TIC) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund purchased 21,310,094 shares of the company’s stock, valued at approximately $172,398,660,000. TIC Solutions accounts for 18.9% of Permian Investment Partners LP’s holdings, making the stock its largest position. Permian Investment Partners LP owned about 9.77% of TIC Solutions as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of TIC. Progeny 3 Inc. boosted its stake in TIC Solutions by 0.6% in the first quarter. Progeny 3 Inc. now owns 15,323,105 shares of the company’s stock valued at $100,826,000 after acquiring an additional 92,015 shares during the period. Bank of New York Mellon Corp boosted its position in TIC Solutions by 8.2% during 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 purchasing an additional 406,255 shares during the period. Swedbank AB grew its stake in TIC Solutions by 7.0% during the 1st 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 increased its position in TIC Solutions by 9.5% in the first 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, Millennium Management LLC bought a new stake in TIC Solutions in the third quarter valued at $29,705,000.

Analyst Upgrades and Downgrades

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

TIC Solutions Price Performance

Shares of NYSE TIC opened at $9.84 on Thursday. TIC Solutions, Inc has a twelve month low of $6.36 and a twelve 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. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of -16.97 and a beta of 2.83. The firm has a 50-day moving average of $8.26 and a two-hundred day moving average of $8.42.

TIC Solutions (NYSE:TIC) last announced its quarterly earnings data on Thursday, August 6th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.04. The company had revenue of $584.35 million for the quarter. TIC Solutions had a negative net margin of 5.64% and a negative return on equity of 2.30%. As a group, analysts expect that TIC Solutions, Inc will post 0.29 earnings per share for the current fiscal year.

TIC Solutions 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.