Goldman Sachs Group Inc. Reduces 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. decreased its position in shares of Transcat, Inc. (NASDAQ:TRNS - Free Report) by 56.0% during the first quarter, according to its most recent filing with the SEC. 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 about 0.20% of Transcat worth $1,418,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Royal Bank of Canada grew its holdings in Transcat by 328.4% in 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 purchasing an additional 133,013 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in shares of Transcat by 17.1% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 607,360 shares of the scientific and technical instruments company's stock worth $45,218,000 after purchasing an additional 88,763 shares in the last quarter. Bessemer Group Inc. raised its stake in Transcat by 64.3% during the first quarter. Bessemer Group Inc. now owns 180,069 shares of the scientific and technical instruments company's stock valued at $13,404,000 after buying an additional 70,461 shares during the last quarter. Conestoga Capital Advisors LLC raised its stake in Transcat by 5.8% during the first quarter. Conestoga Capital Advisors LLC now owns 957,254 shares of the scientific and technical instruments company's stock valued at $71,268,000 after buying an additional 52,328 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its stake in Transcat by 5.5% during the first quarter. Neuberger Berman Group LLC now owns 921,898 shares of the scientific and technical instruments company's stock valued at $68,635,000 after buying an additional 47,913 shares during the last quarter. 98.34% of the stock is currently owned by institutional investors.

Transcat Price Performance

TRNS opened at $75.45 on Friday. Transcat, Inc. has a 12-month low of $67.56 and a 12-month high of $133.72. The company has a current ratio of 2.92, a quick ratio of 2.36 and a debt-to-equity ratio of 0.11. The business's fifty day simple moving average is $80.58 and its 200-day simple moving average is $80.48. The company has a market capitalization of $703.19 million, a price-to-earnings ratio of 52.76 and a beta of 0.72.

Transcat (NASDAQ:TRNS - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $72.28 million. On average, equities research analysts anticipate that Transcat, Inc. will post 2.3 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts recently commented 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 restated a "buy" rating and issued a $116.00 price objective on shares of Transcat in a 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 investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, Transcat presently has an average rating of "Moderate Buy" and a consensus target price 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.

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