Tocqueville Asset Management L.P. lowered its position in Team Inc. (NYSE:TISI) by 4.7% during the second quarter, Holdings Channel reports. The fund owned 485,613 shares of the company’s stock after selling 24,200 shares during the period. Tocqueville Asset Management L.P.’s holdings in Team were worth $12,058,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in TISI. BlackRock Institutional Trust Company N.A. raised its position in Team by 47.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 772,514 shares of the company’s stock worth $23,469,000 after buying an additional 249,778 shares in the last quarter. Pacific Global Investment Management CO raised its position in Team by 72.9% in the first quarter. Pacific Global Investment Management CO now owns 344,755 shares of the company’s stock worth $10,474,000 after buying an additional 145,315 shares in the last quarter. Zebra Capital Management LLC purchased a new position in Team during the first quarter worth $259,000. Bank of Montreal Can purchased a new position in Team during the second quarter worth $437,000. Finally, Northpointe Capital LLC raised its position in Team by 87.2% in the second quarter. Northpointe Capital LLC now owns 394,950 shares of the company’s stock worth $9,807,000 after buying an additional 183,959 shares in the last quarter. Institutional investors own 91.91% of the company’s stock.
Team Inc. (NYSE:TISI) traded down 2.31% during midday trading on Friday, reaching $30.89. 105,091 shares of the company were exchanged. The firm’s 50-day moving average price is $31.52 and its 200 day moving average price is $29.13. The stock’s market capitalization is $905.91 million. Team Inc. has a 52-week low of $21.61 and a 52-week high of $39.52.
Team (NYSE:TISI) last announced its earnings results on Monday, August 8th. The company reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by $0.02. Team had a net margin of 1.27% and a return on equity of 6.80%. Equities analysts predict that Team Inc. will post $1.08 earnings per share for the current year.
TISI has been the subject of a number of analyst reports. KeyCorp reissued a “buy” rating on shares of Team in a research report on Thursday, June 30th. Zacks Investment Research raised shares of Team from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 19th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company presently has an average rating of “Hold”.
In other news, Director Emmett J. Lescroart sold 30,000 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $31.72, for a total transaction of $951,600.00. Following the completion of the transaction, the director now owns 73,616 shares in the company, valued at approximately $2,335,099.52. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Ted W. Owen sold 2,717 shares of the firm’s stock in a transaction dated Monday, August 29th. The shares were sold at an average price of $31.86, for a total transaction of $86,563.62. Following the transaction, the chief executive officer now owns 54,030 shares of the company’s stock, valued at approximately $1,721,395.80. The disclosure for this sale can be found here. 4.10% of the stock is currently owned by corporate insiders.
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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