Bamco Inc. NY Purchases 23,853 Shares of Transcat, Inc. $TRNS

Bamco Inc. NY boosted its position in Transcat, Inc. (NASDAQ:TRNS) by 14.2% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 191,566 shares of the scientific and technical instruments company’s stock after purchasing an additional 23,853 shares during the period. Bamco Inc. NY owned about 2.05% of Transcat worth $14,023,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Transcat by 6.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,462 shares of the scientific and technical instruments company’s stock worth $407,000 after buying an additional 325 shares in the last quarter. Jane Street Group LLC bought a new position in shares of Transcat in the first quarter valued at approximately $1,674,000. Envestnet Asset Management Inc. increased its position in shares of Transcat by 151.7% during the second quarter. Envestnet Asset Management Inc. now owns 40,818 shares of the scientific and technical instruments company’s stock valued at $3,509,000 after acquiring an additional 24,602 shares during the last quarter. PNC Financial Services Group Inc. lifted its holdings in Transcat by 1,118.2% during the second quarter. PNC Financial Services Group Inc. now owns 1,072 shares of the scientific and technical instruments company’s stock worth $92,000 after acquiring an additional 984 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Transcat by 1.8% during the second quarter. Geode Capital Management LLC now owns 223,202 shares of the scientific and technical instruments company’s stock worth $19,189,000 after acquiring an additional 4,030 shares during the period. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Transcat Trading Up 0.8%

Shares of TRNS stock opened at $73.95 on Monday. The company has a quick ratio of 1.85, a current ratio of 2.21 and a debt-to-equity ratio of 0.34. The firm has a market cap of $689.95 million, a P/E ratio of 87.00 and a beta of 0.71. The company has a 50 day moving average of $70.12 and a 200-day moving average of $67.35. Transcat, Inc. has a 12-month low of $50.23 and a 12-month high of $97.08.

Transcat (NASDAQ:TRNS) last posted its quarterly earnings data on Tuesday, February 3rd. The scientific and technical instruments company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.30 by ($0.04). Transcat had a net margin of 2.47% and a return on equity of 6.15%. The firm had revenue of $83.86 million during the quarter, compared to analysts’ expectations of $80.99 million. Sell-side analysts anticipate that Transcat, Inc. will post 2.3 earnings per share for the current year.

Analysts Set New Price Targets

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

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.