Transcat, Inc. $TRNS Shares Sold by Riverbridge Partners LLC

Riverbridge Partners LLC trimmed its holdings in Transcat, Inc. (NASDAQ:TRNS) by 17.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 337,505 shares of the scientific and technical instruments company’s stock after selling 69,708 shares during the period. Riverbridge Partners LLC owned 3.62% of Transcat worth $19,147,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State of Alaska Department of Revenue acquired a new position in shares of Transcat during the 3rd quarter valued at about $40,000. Lazard Asset Management LLC purchased a new stake in Transcat in the second quarter valued at approximately $54,000. PNC Financial Services Group Inc. grew its holdings in 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 valued at $92,000 after purchasing an additional 984 shares during the period. Tower Research Capital LLC TRC increased its position in Transcat by 245.5% during the second quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the scientific and technical instruments company’s stock worth $97,000 after purchasing an additional 798 shares during the last quarter. Finally, Jones Financial Companies Lllp increased its position in Transcat by 79.2% during the third quarter. Jones Financial Companies Lllp now owns 1,634 shares of the scientific and technical instruments company’s stock worth $120,000 after purchasing an additional 722 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Transcat Stock Up 0.4%

Shares of NASDAQ:TRNS opened at $73.24 on Friday. The stock has a 50-day simple moving average of $71.82 and a 200-day simple moving average of $66.99. The stock has a market capitalization of $683.33 million, a P/E ratio of 86.16 and a beta of 0.71. Transcat, Inc. has a 1 year low of $50.23 and a 1 year high of $97.08. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.85 and a current ratio of 2.21.

Transcat (NASDAQ:TRNS) last announced its quarterly earnings results on Tuesday, February 3rd. The scientific and technical instruments company reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $80.99 million. Equities analysts forecast that Transcat, Inc. will post 2.3 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Zacks Research upgraded shares of Transcat from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. Weiss Ratings restated a “sell (d+)” rating on shares of Transcat in a report on Monday, December 29th. One equities research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $105.33.

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.