Envestnet Asset Management Inc. Sells 8,679 Shares of Transcat, Inc. (NASDAQ:TRNS)

Envestnet Asset Management Inc. decreased its position in Transcat, Inc. (NASDAQ:TRNS) by 32.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 17,976 shares of the scientific and technical instruments company’s stock after selling 8,679 shares during the period. Envestnet Asset Management Inc. owned 0.19% of Transcat worth $1,901,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Jones Financial Companies Lllp increased its stake in Transcat by 686.7% in the 4th 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 purchased a new stake in Transcat in the 4th quarter valued at about $143,000. SG Americas Securities LLC purchased a new stake in Transcat in the 4th quarter valued at about $182,000. KLP Kapitalforvaltning AS purchased a new stake in Transcat in the 4th quarter valued at about $190,000. Finally, Wells Fargo & Company MN increased its stake in Transcat by 52.3% in the 4th quarter. Wells Fargo & Company MN now owns 4,259 shares of the scientific and technical instruments company’s stock valued at $450,000 after buying an additional 1,463 shares during the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Transcat Stock Performance

NASDAQ:TRNS opened at $85.13 on Monday. The stock has a market cap of $792.48 million, a P/E ratio of 46.02 and a beta of 0.67. The company has a quick ratio of 1.98, a current ratio of 2.42 and a debt-to-equity ratio of 0.14. Transcat, Inc. has a twelve month low of $67.56 and a twelve month high of $147.12. The business’s 50-day moving average price is $77.14 and its two-hundred day moving average price is $94.21.

Transcat (NASDAQ:TRNS) last announced its quarterly earnings data on Monday, January 27th. The scientific and technical instruments company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates 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 previous year, the business posted $0.56 EPS. As a group, equities analysts predict that Transcat, Inc. will post 2.3 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Activity at Transcat

In related news, Director Craig D. Cairns purchased 1,200 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were acquired 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 approximately $147,108.20. This trade represents a 169.01 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 2.30% of the stock is currently owned by insiders.

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.