Riverbridge Partners LLC Sells 27,029 Shares of Transcat, Inc. $TRNS

Riverbridge Partners LLC trimmed its position in Transcat, Inc. (NASDAQ:TRNS) by 8.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 310,476 shares of the scientific and technical instruments company’s stock after selling 27,029 shares during the quarter. Riverbridge Partners LLC’s holdings in Transcat were worth $22,804,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Lazard Asset Management LLC bought a new position in Transcat in the 2nd quarter worth $54,000. Tower Research Capital LLC TRC boosted its holdings in Transcat by 245.5% during the second quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the scientific and technical instruments company’s stock valued at $97,000 after acquiring an additional 798 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Transcat by 42.7% during the third quarter. PNC Financial Services Group Inc. now owns 1,530 shares of the scientific and technical instruments company’s stock valued at $112,000 after acquiring an additional 458 shares during the period. Marshall Wace LLP acquired a new stake in shares of Transcat in the fourth quarter valued at about $236,000. Finally, Balyasny Asset Management L.P. acquired a new stake in shares of Transcat in the fourth quarter valued at about $247,000. 98.34% of the stock is owned by institutional investors.

Transcat Stock Performance

NASDAQ TRNS opened at $89.46 on Wednesday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.33 and a quick ratio of 1.99. The firm has a market capitalization of $835.56 million, a price-to-earnings ratio of 154.24 and a beta of 0.71. The company’s fifty day moving average is $81.68 and its two-hundred day moving average is $72.77. Transcat, Inc. has a 52-week low of $50.23 and a 52-week high of $94.76.

Transcat (NASDAQ:TRNS) last posted its quarterly earnings data on Tuesday, May 26th. The scientific and technical instruments company reported $0.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.05. The company had revenue of $89.33 million for the quarter, compared to the consensus estimate of $89.79 million. Transcat had a net margin of 1.62% and a return on equity of 5.84%. Equities research analysts forecast that Transcat, Inc. will post 1.71 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on TRNS shares. Weiss Ratings raised Transcat from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 28th. Wall Street Zen lowered Transcat from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Zacks Research raised Transcat from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $105.33.

About Transcat

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.