Wasatch Advisors LP Has $46.47 Million Holdings in Transcat, Inc. (NASDAQ:TRNS)

Wasatch Advisors LP trimmed its holdings in Transcat, Inc. (NASDAQ:TRNS) by 33.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 439,432 shares of the scientific and technical instruments company’s stock after selling 223,382 shares during the period. Wasatch Advisors LP’s holdings in Transcat were worth $46,466,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the stock. Bessemer Group Inc. grew its holdings in shares of Transcat by 1,692.4% during the 4th quarter. Bessemer Group Inc. now owns 109,608 shares of the scientific and technical instruments company’s stock worth $11,590,000 after purchasing an additional 103,493 shares in the last quarter. ACK Asset Management LLC bought a new position in Transcat in the fourth quarter valued at approximately $4,758,000. Raymond James Financial Inc. bought a new stake in Transcat during the fourth quarter worth $2,071,000. JPMorgan Chase & Co. lifted its stake in Transcat by 153.1% during the fourth quarter. JPMorgan Chase & Co. now owns 26,434 shares of the scientific and technical instruments company’s stock worth $2,795,000 after purchasing an additional 15,991 shares during the last quarter. Finally, Neuberger Berman Group LLC increased its stake in shares of Transcat by 1.8% in the 4th quarter. Neuberger Berman Group LLC now owns 873,985 shares of the scientific and technical instruments company’s stock valued at $92,415,000 after purchasing an additional 15,723 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors.

Insider Activity at Transcat

In other Transcat news, Director Craig D. Cairns acquired 1,200 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were bought at an average cost of $77.02 per share, with a total value of $92,424.00. Following the purchase, the director now directly owns 1,910 shares of the company’s stock, valued at $147,108.20. This trade represents a 169.01 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is currently owned by company insiders.

Transcat Price Performance

TRNS stock opened at $86.28 on Wednesday. The company has a market capitalization of $803.18 million, a P/E ratio of 46.64 and a beta of 0.67. The company has a fifty day moving average price of $76.70 and a 200-day moving average price of $96.31. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.98 and a current ratio of 2.42. Transcat, Inc. has a 52-week low of $67.56 and a 52-week high of $147.12.

Transcat (NASDAQ:TRNS) last announced its earnings results on Monday, January 27th. The scientific and technical instruments company reported $0.45 EPS for the quarter, topping the consensus estimate of $0.38 by $0.07. Transcat had a return on equity of 7.23% and a net margin of 6.22%. During the same quarter in the prior year, the firm posted $0.56 EPS. As a group, equities analysts expect that Transcat, Inc. will post 2.3 EPS for the current year.

Wall Street Analysts Forecast Growth

TRNS has been the topic of several research analyst reports. HC Wainwright reduced their price objective on Transcat from $126.00 to $106.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. Northland Securities reiterated a “market perform” rating and set a $85.00 price objective (down from $110.00) on shares of Transcat in a research report on Wednesday, January 29th. Oppenheimer lowered shares of Transcat from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 29th. Finally, StockNews.com downgraded shares of Transcat from a “hold” rating to a “sell” rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Transcat has an average rating of “Hold” and a consensus target price of $111.50.

About Transcat

Transcat, Inc provides calibration and laboratory instrument services in the United States, Canada, and internationally. It operates through two segments: Service and Distribution. The Service segment offers calibration, repair, inspection, analytical qualification, preventative maintenance, consulting, and other related services.