Progeny 3 Inc. Raises Holdings in TIC Solutions, Inc $TIC

Progeny 3 Inc. boosted its holdings in TIC Solutions, Inc (NYSE:TIC) by 0.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,323,105 shares of the company’s stock after purchasing an additional 92,015 shares during the quarter. TIC Solutions comprises approximately 5.4% of Progeny 3 Inc.’s investment portfolio, making the stock its 4th largest holding. Progeny 3 Inc. owned about 0.07% of TIC Solutions worth $100,826,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of TIC. National Bank of Canada FI bought a new position in shares of TIC Solutions in the third quarter valued at $53,000. Principal Financial Group Inc. bought a new position in TIC Solutions in the 1st quarter valued at about $69,000. Tower Research Capital LLC TRC bought a new position in TIC Solutions in the 2nd quarter valued at about $82,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its stake in TIC Solutions by 10.1% during the 1st 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 during the last quarter. Finally, BNP Paribas Financial Markets acquired a new position in TIC Solutions during the 2nd quarter valued at about $97,000.

TIC Solutions Price Performance

TIC opened at $7.11 on Monday. 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 moving average of $8.02 and a 200 day moving average of $8.71. The company has a debt-to-equity ratio of 0.74, a quick ratio of 3.06 and a current ratio of 3.06. The firm has a market cap of $1.57 billion, a P/E ratio of -13.67 and a beta of 2.81.

Analysts Set New Price Targets

Several analysts have recently commented on the company. JPMorgan Chase & Co. increased their price objective on TIC Solutions from $7.00 to $9.00 and gave the stock an “underweight” rating in a research note on Thursday, May 7th. UBS Group upped their price target on TIC Solutions from $8.00 to $11.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Zacks Research raised TIC Solutions from a “strong sell” rating to a “hold” rating in a research report on Wednesday, July 15th. Weiss Ratings restated a “sell (d-)” rating on shares of TIC Solutions in a research note on Tuesday, June 9th. Finally, Robert W. Baird set a $11.00 price objective on shares of TIC Solutions in a report on Thursday, May 7th. Two equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $11.50.

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.