Bessemer Group Inc. lifted its position in Transcat, Inc. (NASDAQ:TRNS - Free Report) by 1,692.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 109,608 shares of the scientific and technical instruments company's stock after purchasing an additional 103,493 shares during the quarter. Bessemer Group Inc. owned 1.18% of Transcat worth $11,590,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp grew its stake in shares of Transcat by 686.7% during the fourth quarter. Jones Financial Companies Lllp now owns 354 shares of the scientific and technical instruments company's stock valued at $37,000 after buying an additional 309 shares during the last quarter. Morgan Dempsey Capital Management LLC acquired a new stake in shares of Transcat in the fourth quarter worth approximately $143,000. SG Americas Securities LLC acquired a new position in shares of Transcat during the 4th quarter valued at about $182,000. KLP Kapitalforvaltning AS acquired a new stake in shares of Transcat in the fourth quarter valued at $190,000. Finally, Captrust Financial Advisors acquired a new stake in Transcat in the 3rd quarter valued at about $201,000. 98.34% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently weighed in on the company. Northland Securities restated a "market perform" rating and issued a $85.00 price target (down previously from $110.00) on shares of Transcat in a report on Wednesday, January 29th. Oppenheimer downgraded Transcat from an "outperform" rating to a "market perform" rating in a report on Wednesday, January 29th. StockNews.com cut Transcat from a "hold" rating to a "sell" rating in a report on Wednesday, February 5th. Finally, HC Wainwright reduced their target price on Transcat from $126.00 to $106.00 and set a "buy" rating for the company in a report on Wednesday, January 29th. One equities research 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 MarketBeat.com, Transcat presently has a consensus rating of "Hold" and a consensus price target of $111.50.
Get Our Latest Research Report on TRNS
Insider Activity
In related news, Director Craig D. Cairns bought 1,200 shares of the company's stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average price of $77.02 per share, for a total transaction of $92,424.00. Following the acquisition, the director now owns 1,910 shares of the company's stock, valued at approximately $147,108.20. This trade represents a 169.01 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.30% of the company's stock.
Transcat Price Performance
Shares of NASDAQ TRNS traded down $1.29 during midday trading on Wednesday, hitting $84.99. 28,470 shares of the company's stock were exchanged, compared to its average volume of 72,872. The business's fifty day moving average price is $76.70 and its two-hundred day moving average price is $96.31. The company has a current ratio of 2.42, a quick ratio of 1.98 and a debt-to-equity ratio of 0.14. Transcat, Inc. has a 12-month low of $67.56 and a 12-month high of $147.12. The company has a market cap of $791.17 million, a price-to-earnings ratio of 45.94 and a beta of 0.67.
Transcat (NASDAQ:TRNS - Get Free Report) last posted its quarterly earnings data on Monday, January 27th. The scientific and technical instruments company reported $0.45 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.38 by $0.07. Transcat had a net margin of 6.22% and a return on equity of 7.23%. During the same period in the prior year, the business earned $0.56 EPS. As a group, research analysts forecast that Transcat, Inc. will post 2.3 EPS for the current fiscal year.
About Transcat
(
Free Report)
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.
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