Permian Investment Partners LP Buys Shares of 21,310,094 TIC Solutions, Inc $TIC

Permian Investment Partners LP bought a new stake in TIC Solutions, Inc (NYSE:TIC) in the second quarter, Holdings Channel.com reports. The institutional investor bought 21,310,094 shares of the company’s stock, valued at approximately $172,398,660,000. TIC Solutions accounts for approximately 18.9% of Permian Investment Partners LP’s investment portfolio, making the stock its largest holding. Permian Investment Partners LP owned about 0.10% of TIC Solutions as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of TIC. Quantbot Technologies LP purchased a new stake in TIC Solutions in the 2nd quarter worth about $29,000. National Bank of Canada FI purchased a new stake in shares of TIC Solutions in the third quarter worth approximately $53,000. Principal Financial Group Inc. acquired a new stake in shares of TIC Solutions during the first quarter worth approximately $69,000. Tower Research Capital LLC TRC acquired a new stake in shares of TIC Solutions during the second quarter worth approximately $82,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its position 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 valued at $83,000 after purchasing an additional 1,165 shares in the last quarter.

Wall Street Analyst Weigh In

TIC has been the subject of a number of research reports. Zacks Research raised shares of TIC Solutions from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 15th. UBS Group raised TIC Solutions from a “neutral” rating to a “buy” rating and upped their target price for the stock from $11.00 to $12.50 in a research report on Tuesday, August 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of TIC Solutions in a report on Tuesday, June 9th. Roth Capital reissued a “buy” rating and issued a $11.50 price target on shares of TIC Solutions in a research note on Thursday, May 7th. Finally, JPMorgan Chase & Co. upgraded TIC Solutions from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $9.00 to $11.00 in a report on Friday, August 21st. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, TIC Solutions presently has a consensus rating of “Hold” and a consensus price target of $12.00.

TIC Solutions Trading Up 0.9%

NYSE:TIC opened at $9.84 on Thursday. The company’s 50 day moving average is $8.26 and its 200-day moving average is $8.42. The company has a quick ratio of 2.91, a current ratio of 2.91 and a debt-to-equity ratio of 0.76. 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 $2.15 billion, a price-to-earnings ratio of -16.97 and a beta of 2.83.

TIC Solutions (NYSE:TIC) last posted its earnings results on Thursday, August 6th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.04. The business 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%. Equities analysts anticipate that TIC Solutions, Inc will post 0.29 EPS for the current year.

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.