Goldman Sachs Group Inc. Has $1.42 Million Holdings in Transcat, Inc. $TRNS

Key Points

• Goldman Sachs Group Inc. has significantly decreased its stake in Transcat, Inc. by 56%, selling 24,224 shares and retaining only 19,043 shares valued at $1.4 million.
• Several hedge funds have increased their positions in Transcat, with Royal Bank of Canada boosting its holdings by 328.4%, now owning approximately 173,514 shares.
• Transcat reported a quarterly earnings per share (EPS) of $0.59, surpassing analyst expectations of $0.40, and had revenues of $76.42 million compared to estimates of $72.28 million.

Goldman Sachs Group Inc. lowered its position in shares of Transcat, Inc. (NASDAQ:TRNS - Free Report) by 56.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 19,043 shares of the scientific and technical instruments company's stock after selling 24,224 shares during the period. Goldman Sachs Group Inc. owned approximately 0.20% of Transcat worth $1,418,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in TRNS. Deutsche Bank AG grew its position in shares of Transcat by 49.9% during the fourth quarter. Deutsche Bank AG now owns 7,833 shares of the scientific and technical instruments company's stock worth $828,000 after buying an additional 2,608 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Transcat by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 5,137 shares of the scientific and technical instruments company's stock worth $543,000 after buying an additional 194 shares in the last quarter. ProShare Advisors LLC grew its position in shares of Transcat by 49.1% during the fourth quarter. ProShare Advisors LLC now owns 2,542 shares of the scientific and technical instruments company's stock worth $269,000 after buying an additional 837 shares in the last quarter. Royal Bank of Canada grew its position in shares of Transcat by 328.4% during the fourth quarter. Royal Bank of Canada now owns 173,514 shares of the scientific and technical instruments company's stock worth $18,348,000 after buying an additional 133,013 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Transcat by 24.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 17,029 shares of the scientific and technical instruments company's stock worth $1,801,000 after buying an additional 3,307 shares in the last quarter. Institutional investors and hedge funds own 98.34% of the company's stock.

Transcat Stock Performance

TRNS stock traded up $0.11 during mid-day trading on Tuesday, reaching $74.48. The company had a trading volume of 20,475 shares, compared to its average volume of 106,350. The company has a quick ratio of 2.36, a current ratio of 2.92 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $694.15 million, a P/E ratio of 52.11 and a beta of 0.72. Transcat, Inc. has a one year low of $67.56 and a one year high of $133.40. The stock's 50-day simple moving average is $80.34 and its two-hundred day simple moving average is $80.52.

Transcat (NASDAQ:TRNS - Get Free Report) last issued its quarterly earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.59 EPS for the quarter, topping the consensus estimate of $0.40 by $0.19. Transcat had a net margin of 4.64% and a return on equity of 6.66%. The firm had revenue of $76.42 million for the quarter, compared to analysts' expectations of $72.28 million. Research analysts anticipate that Transcat, Inc. will post 2.3 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on TRNS shares. Wall Street Zen raised shares of Transcat from a "sell" rating to a "hold" rating in a research report on Wednesday, May 28th. HC Wainwright reissued a "buy" rating and set a $116.00 price target on shares of Transcat in a research report on Friday, August 22nd. Finally, Lake Street Capital began coverage on shares of Transcat in a report on Thursday, July 10th. They issued a "buy" rating and a $105.00 price objective for the company. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $112.20.

Transcat Profile

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.