Legal & General Group Plc Takes $575,000 Position in Transcat, Inc. $TRNS

Legal & General Group Plc purchased a new position in shares of Transcat, Inc. (NASDAQ:TRNS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,193 shares of the scientific and technical instruments company’s stock, valued at approximately $575,000. Legal & General Group Plc owned approximately 0.07% of Transcat at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Persistent Asset Partners Ltd acquired a new position in Transcat in the 2nd quarter valued at $52,000. Lazard Asset Management LLC acquired a new stake in shares of Transcat during the 2nd quarter worth $54,000. Tower Research Capital LLC TRC grew its holdings 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 purchasing an additional 798 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of Transcat in the second quarter worth $226,000. Finally, Marshall Wace LLP bought a new position in shares of Transcat in the fourth quarter worth $236,000. Institutional investors own 98.34% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the stock. Zacks Research raised shares of Transcat from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Weiss Ratings reissued a “sell (d+)” rating on shares of Transcat in a report on Tuesday, August 25th. Northland Securities cut shares of Transcat from an “outperform” rating to a “market perform” rating and set a $95.00 target price for the company. in a research report on Wednesday, August 5th. Finally, Wall Street Zen raised shares of Transcat from a “sell” rating to a “hold” rating in a report on Sunday, June 28th. Two research analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Transcat currently has an average rating of “Reduce” and an average price target of $95.00.

Transcat Price Performance

Transcat stock opened at $83.74 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.11 and a current ratio of 2.49. Transcat, Inc. has a 52 week low of $50.23 and a 52 week high of $100.00. The stock has a market capitalization of $783.81 million, a P/E ratio of 226.32 and a beta of 0.68. The stock has a fifty day moving average of $89.04 and a 200-day moving average of $82.95.

Transcat (NASDAQ:TRNS) last announced its quarterly earnings data on Tuesday, August 4th. The scientific and technical instruments company reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.13. The business had revenue of $92.95 million during the quarter, compared to the consensus estimate of $86.55 million. Transcat had a return on equity of 5.56% and a net margin of 0.99%. On average, sell-side analysts expect that Transcat, Inc. will post 1.74 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Christopher P. Gillette sold 504 shares of the stock in a transaction dated Friday, August 7th. The shares were sold at an average price of $94.23, for a total value of $47,491.92. Following the completion of the transaction, the director owned 200 shares of the company’s stock, valued at approximately $18,846. This represents a 71.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Craig Cairns bought 1,050 shares of the company’s stock in a transaction dated Thursday, August 6th. The stock was bought at an average cost of $93.97 per share, with a total value of $98,668.50. Following the acquisition, the director directly owned 1,480 shares of the company’s stock, valued at approximately $139,075.60. The trade was a 244.19% increase in their position. The SEC filing for this purchase provides additional information. 1.80% of the stock is currently owned by insiders.

Transcat 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.