State Board of Administration of Florida Retirement System Sells 4,418 Shares of Team Inc. (TISI)
State Board of Administration of Florida Retirement System reduced its stake in shares of Team Inc. (NYSE:TISI) by 14.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 27,098 shares of the company’s stock after selling 4,418 shares during the period. State Board of Administration of Florida Retirement System owned about 0.09% of Team worth $673,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the stock. Ngam Advisors L.P. increased its position in shares of Team by 24.0% in the first quarter. Ngam Advisors L.P. now owns 115,132 shares of the company’s stock valued at $3,498,000 after buying an additional 22,280 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in shares of Team by 54.0% in the first quarter. TIAA CREF Investment Management LLC now owns 100,563 shares of the company’s stock valued at $3,055,000 after buying an additional 35,248 shares in the last quarter. Teachers Advisors Inc. increased its position in shares of Team by 61.6% in the first quarter. Teachers Advisors Inc. now owns 48,202 shares of the company’s stock valued at $1,464,000 after buying an additional 18,372 shares in the last quarter. Prudential Financial Inc. purchased a new position in shares of Team during the first quarter valued at approximately $644,000. Finally, BlackRock Fund Advisors increased its position in shares of Team by 33.7% in the first quarter. BlackRock Fund Advisors now owns 749,217 shares of the company’s stock valued at $22,761,000 after buying an additional 188,693 shares in the last quarter. Institutional investors and hedge funds own 91.91% of the company’s stock.
Shares of Team Inc. (NYSE:TISI) traded up 0.71% on Friday, hitting $32.71. 286,740 shares of the stock traded hands. The stock has a 50-day moving average price of $31.49 and a 200 day moving average price of $28.80. Team Inc. has a 52 week low of $21.61 and a 52 week high of $39.52. The firm’s market cap is $959.29 million.
Team (NYSE:TISI) last issued its quarterly earnings results on Monday, August 8th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.39 by $0.02. Team had a return on equity of 6.80% and a net margin of 1.27%. Equities research analysts predict that Team Inc. will post $1.08 EPS for the current fiscal year.
Several research analysts have commented on the stock. Zacks Investment Research upgraded shares of Team from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 19th. KeyCorp restated a “buy” rating on shares of Team in a research report on Thursday, June 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold”.
In related news, Director Emmett J. Lescroart sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $31.72, for a total value of $951,600.00. Following the completion of the transaction, the director now directly owns 73,616 shares of the company’s stock, valued at approximately $2,335,099.52. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ted W. Owen sold 2,717 shares of the firm’s stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $31.86, for a total transaction of $86,563.62. Following the completion of the transaction, the chief executive officer now directly owns 54,030 shares of the company’s stock, valued at $1,721,395.80. The disclosure for this sale can be found here. Insiders own 4.10% of the company’s stock.
Team, Inc (Team) provides specialty industrial services, including inspection and assessment, required in maintaining high temperature and high pressure piping systems and vessels that are utilized in the refining, petrochemical, power, pipeline and other heavy industries. The Company conducts its operations in three segments: Inspection and Heat Treating Services (IHT) Group, Mechanical Services (MS) Group and Quest Integrity (Quest Integrity) Group.
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