Cercano Management LLC Purchases Shares of 2,902,230 Acuren Corp $TIC

Cercano Management LLC acquired a new position in Acuren Corp (NYSEAMERICAN:TIC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,902,230 shares of the company’s stock, valued at approximately $38,629,000. Acuren makes up approximately 1.5% of Cercano Management LLC’s portfolio, making the stock its 11th largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in TIC. Nisa Investment Advisors LLC increased its holdings in Acuren by 123.5% in the third quarter. Nisa Investment Advisors LLC now owns 2,277 shares of the company’s stock worth $30,000 after purchasing an additional 1,258 shares in the last quarter. Granite FO LLC acquired a new stake in shares of Acuren during the 3rd quarter worth approximately $27,000. Voya Investment Management LLC increased its stake in shares of Acuren by 9.0% in the 3rd quarter. Voya Investment Management LLC now owns 31,384 shares of the company’s stock valued at $418,000 after acquiring an additional 2,598 shares in the last quarter. Blue Trust Inc. acquired a new position in shares of Acuren during the 3rd quarter valued at $38,000. Finally, Amalgamated Bank acquired a new position in shares of Acuren during the 2nd quarter valued at $39,000.

Analysts Set New Price Targets

A number of equities research analysts have commented on TIC shares. JPMorgan Chase & Co. assumed coverage on shares of Acuren in a report on Friday, January 9th. They issued an “overweight” rating and a $16.00 price target for the company. Zacks Research upgraded Acuren to a “hold” rating in a research note on Tuesday, December 16th. Jefferies Financial Group reaffirmed a “buy” rating and set a $15.00 price target on shares of Acuren in a research note on Friday, November 14th. Finally, UBS Group cut their price target on Acuren from $15.00 to $11.50 and set a “neutral” rating on the stock in a report on Friday, November 14th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $14.38.

Acuren Trading Down 0.2%

Shares of TIC opened at $9.34 on Wednesday. Acuren Corp has a 12 month low of $8.76 and a 12 month high of $14.94. The business’s fifty day simple moving average is $10.40 and its two-hundred day simple moving average is $11.00.

About Acuren

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.