Geode Capital Management LLC Takes Position in Acuren Corp $TIC

Geode Capital Management LLC acquired a new stake in shares of Acuren Corp (NYSEAMERICAN:TIC) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 2,264,314 shares of the company’s stock, valued at approximately $25,003,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Amalgamated Bank purchased a new position in Acuren in the 2nd quarter valued at about $39,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Acuren during the second quarter worth about $124,000. HB Wealth Management LLC acquired a new position in shares of Acuren in the second quarter valued at approximately $166,000. ProShare Advisors LLC purchased a new position in shares of Acuren during the second quarter valued at approximately $234,000. Finally, Goldman Sachs Group Inc. acquired a new stake in Acuren during the first quarter worth approximately $4,429,000.

Acuren Trading Up 2.0%

Shares of TIC opened at $9.72 on Friday. Acuren Corp has a fifty-two week low of $8.76 and a fifty-two week high of $14.94. The company’s fifty day moving average is $11.97 and its two-hundred day moving average is $11.31.

Analyst Upgrades and Downgrades

Several analysts have commented on TIC shares. Baird R W raised shares of Acuren to a “hold” rating in a research note on Thursday, October 9th. Robert W. Baird assumed coverage on Acuren in a report on Thursday, October 9th. They set a “neutral” rating and a $15.00 price objective on the stock. Jefferies Financial Group reaffirmed a “buy” rating and issued a $15.00 price objective on shares of Acuren in a research report on Friday, November 14th. Finally, UBS Group reduced their target price on Acuren from $15.00 to $11.50 and set a “neutral” rating on the stock in a research report on Friday, November 14th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, Acuren presently has a consensus rating of “Hold” and a consensus target price of $13.83.

Acuren Company Profile

Acuren Corporation provides critical asset integrity services in North America. Its activities include various nondestructive testing (NDT) solutions, such as radiography, ultrasonic testing, magnetic particle inspection, penetrant testing, and visual inspection. Its NDT activities include inspection and evaluation of industrial equipment through various technology-enabled methods to ensure asset integrity, avoid accidents, and comply with regulatory requirements without destroying the asset or component.