New York State Common Retirement Fund Cuts Position in Team, Inc. (TISI)

New York State Common Retirement Fund lessened its holdings in Team, Inc. (NYSE:TISI) by 36.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 51,303 shares of the business services provider’s stock after selling 29,379 shares during the quarter. New York State Common Retirement Fund owned about 0.17% of Team worth $1,203,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. BlackRock Inc. increased its holdings in Team by 121,178.7% in the 1st quarter. BlackRock Inc. now owns 3,643,211 shares of the business services provider’s stock worth $98,549,000 after buying an additional 3,640,207 shares during the period. Vanguard Group Inc. increased its holdings in Team by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 2,532,490 shares of the business services provider’s stock worth $68,504,000 after buying an additional 141,530 shares during the period. Dimensional Fund Advisors LP increased its holdings in Team by 14.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,521,615 shares of the business services provider’s stock worth $41,160,000 after buying an additional 189,525 shares during the period. Thrivent Financial For Lutherans increased its holdings in Team by 18.0% in the 2nd quarter. Thrivent Financial For Lutherans now owns 990,226 shares of the business services provider’s stock worth $23,221,000 after buying an additional 151,290 shares during the period. Finally, Royce & Associates LP increased its holdings in Team by 32.7% in the 2nd quarter. Royce & Associates LP now owns 884,871 shares of the business services provider’s stock worth $20,750,000 after buying an additional 218,220 shares during the period. Institutional investors own 96.48% of the company’s stock.

Several brokerages recently weighed in on TISI. Zacks Investment Research upgraded shares of Team from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 18th. BidaskClub upgraded shares of Team from a “strong sell” rating to a “sell” rating in a report on Friday, August 25th. Johnson Rice downgraded shares of Team from a “buy” rating to a “hold” rating and cut their price target for the stock from $36.00 to $26.00 in a report on Tuesday, July 25th. Stephens downgraded shares of Team from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $34.00 to $19.00 in a report on Tuesday, July 25th. Finally, TheStreet downgraded shares of Team from a “c-” rating to a “d+” rating in a report on Tuesday, July 25th. Two analysts have rated the stock with a sell rating and three have given a hold rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $22.50.

In related news, Director Jeffery Gerald Davis purchased 5,000 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was acquired at an average price of $10.96 per share, for a total transaction of $54,800.00. Following the completion of the purchase, the director now directly owns 13,869 shares of the company’s stock, valued at $152,004.24. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Louis A. Waters purchased 12,500 shares of the business’s stock in a transaction dated Tuesday, August 15th. The shares were bought at an average price of $11.40 per share, with a total value of $142,500.00. Following the purchase, the director now directly owns 160,580 shares of the company’s stock, valued at $1,830,612. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 36,000 shares of company stock valued at $408,130. 4.10% of the stock is owned by company insiders.

Team (NYSE:TISI) last issued its quarterly earnings data on Monday, August 7th. The business services provider reported ($0.23) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.31 by ($0.54). Team had a negative net margin of 2.83% and a negative return on equity of 2.22%. The firm had revenue of $312.26 million during the quarter, compared to analysts’ expectations of $309.60 million.

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About Team

Team, Inc is a provider of specialty industrial services, including inspection and assessment, required in maintaining high temperature and high pressure piping systems and vessels. The Company conducts its operations through three segments: Inspection and Heat Treating Services (IHT) Group, Mechanical Services (MS) Group and Quest Integrity (Quest Integrity) Group.

Institutional Ownership by Quarter for Team (NYSE:TISI)

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