Bessemer Group Inc. Reduces Holdings in Transcat, Inc. $TRNS

Bessemer Group Inc. decreased its position in shares of Transcat, Inc. (NASDAQ:TRNS) by 96.0% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,820 shares of the scientific and technical instruments company’s stock after selling 234,671 shares during the period. Bessemer Group Inc.’s holdings in Transcat were worth $718,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. State of Alaska Department of Revenue bought a new position in Transcat during the 3rd quarter valued at about $40,000. Lazard Asset Management LLC purchased a new position in shares of Transcat during the second quarter valued at approximately $54,000. Parkside Financial Bank & Trust bought a new position in shares of Transcat during the second quarter valued at approximately $79,000. PNC Financial Services Group Inc. raised its holdings in shares of Transcat by 1,118.2% in the second quarter. PNC Financial Services Group Inc. now owns 1,072 shares of the scientific and technical instruments company’s stock worth $92,000 after buying an additional 984 shares during the period. Finally, Tower Research Capital LLC TRC lifted its stake in shares of Transcat by 245.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the scientific and technical instruments company’s stock worth $97,000 after acquiring an additional 798 shares during the last quarter. Institutional investors own 98.34% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on TRNS. Zacks Research downgraded shares of Transcat from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 3rd. Weiss Ratings reissued a “sell (d+)” rating on shares of Transcat in a research note on Monday, December 29th. Finally, Northland Securities set a $95.00 price objective on Transcat in a report on Thursday, October 23rd. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, Transcat currently has a consensus rating of “Hold” and a consensus price target of $105.33.

Transcat Stock Down 0.1%

Shares of Transcat stock opened at $79.73 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 2.21 and a quick ratio of 1.85. Transcat, Inc. has a 1 year low of $50.23 and a 1 year high of $97.08. The firm’s 50-day moving average is $61.25 and its two-hundred day moving average is $68.19. The stock has a market cap of $743.88 million, a price-to-earnings ratio of 93.80 and a beta of 0.79.

Transcat (NASDAQ:TRNS) last posted its quarterly earnings results on Tuesday, February 3rd. The scientific and technical instruments company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.04). Transcat had a net margin of 2.47% and a return on equity of 6.15%. The business had revenue of $83.86 million during the quarter, compared to the consensus estimate of $80.99 million. As a group, research analysts expect that Transcat, Inc. will post 2.3 earnings per share for the current fiscal year.

Transcat Company Profile

Transcat, Inc (NASDAQ: TRNS) is a leading provider of calibration, laboratory, and metrology services in North America. Founded in 1964 and headquartered in Ronkonkoma, New York, the company specializes in ensuring the accuracy and compliance of measurement instruments across a wide range of industries. Transcat operates a network of ISO/IEC 17025–accredited laboratories and offers on-site field calibration, instrument repair, and preventive maintenance services.

In addition to its calibration services, Transcat distributes precision instrumentation and related software solutions from top manufacturers.