Team Inc. (TISI) Shares Sold by Tocqueville Asset Management L.P.
Tocqueville Asset Management L.P. decreased its stake in Team Inc. (NYSE:TISI) by 4.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 485,613 shares of the company’s stock after selling 24,200 shares during the period. Tocqueville Asset Management L.P. owned approximately 1.68% of Team worth $12,058,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in TISI. TIAA CREF Investment Management LLC boosted its stake in shares of Team by 54.0% in the first quarter. TIAA CREF Investment Management LLC now owns 100,563 shares of the company’s stock valued at $3,055,000 after buying an additional 35,248 shares in the last quarter. Teachers Advisors Inc. boosted its stake in shares of Team by 61.6% in the first quarter. Teachers Advisors Inc. now owns 48,202 shares of the company’s stock valued at $1,464,000 after buying an additional 18,372 shares in the last quarter. Prudential Financial Inc. acquired a new stake in shares of Team during the first quarter valued at about $644,000. BlackRock Fund Advisors boosted its stake in shares of Team by 33.7% in the first quarter. BlackRock Fund Advisors now owns 749,217 shares of the company’s stock valued at $22,761,000 after buying an additional 188,693 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. boosted its stake in shares of Team by 47.8% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 772,514 shares of the company’s stock valued at $23,469,000 after buying an additional 249,778 shares in the last quarter. Hedge funds and other institutional investors own 91.91% of the company’s stock.
Team Inc. (NYSE:TISI) traded down 2.31% during mid-day trading on Friday, hitting $30.89. 105,091 shares of the stock traded hands. The firm’s 50-day moving average is $31.52 and its 200-day moving average is $29.13. Team Inc. has a 12-month low of $21.61 and a 12-month high of $39.52. The company’s market cap is $905.91 million.
Team (NYSE:TISI) last announced its quarterly earnings data on Monday, August 8th. The company reported $0.37 EPS for the quarter, missing the Thomson Reuters’ 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 research analysts expect that Team Inc. will post $1.08 EPS for the current year.
Several analysts recently issued reports on the stock. Zacks Investment Research raised shares of Team from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 19th. KeyCorp reaffirmed a “buy” rating on shares of Team in a research note on Thursday, June 30th. Three investment 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 Team news, CEO Ted W. Owen sold 2,717 shares of Team 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 completion of the transaction, the chief executive officer now owns 54,030 shares in the company, valued at $1,721,395.80. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Emmett J. Lescroart sold 30,000 shares of Team stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $31.72, for a total transaction of $951,600.00. Following the transaction, the director now owns 73,616 shares of the company’s stock, valued at approximately $2,335,099.52. 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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