Nuveen LLC Buys New Shares in Transcat, Inc. $TRNS

Key Points

• Nuveen LLC purchased 21,103 shares of Transcat, Inc. valued at approximately $1.57 million, increasing its stake to about 0.23% as of the latest SEC filing.
• Several institutional investors, including Conestoga Capital Advisors LLC and Bessemer Group Inc., have recently increased their holdings in Transcat, affirming strong institutional interest in the company.
• Transcat's recent earnings report showed EPS of $0.59, exceeding estimates, with revenues of $76.42 million, indicating robust financial performance.

Nuveen LLC purchased a new stake in Transcat, Inc. (NASDAQ:TRNS - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 21,103 shares of the scientific and technical instruments company's stock, valued at approximately $1,571,000. Nuveen LLC owned approximately 0.23% of Transcat as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Conestoga Capital Advisors LLC raised its position in shares of 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 worth $71,268,000 after purchasing an additional 52,328 shares during the period. Royce & Associates LP increased its stake in Transcat by 1.1% in the 1st quarter. Royce & Associates LP now owns 478,581 shares of the scientific and technical instruments company's stock worth $35,630,000 after purchasing an additional 5,327 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Transcat by 5.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 209,200 shares of the scientific and technical instruments company's stock worth $22,121,000 after purchasing an additional 10,186 shares in the last quarter. Granahan Investment Management LLC raised its holdings in Transcat by 132.0% during the 4th quarter. Granahan Investment Management LLC now owns 188,763 shares of the scientific and technical instruments company's stock worth $19,960,000 after buying an additional 107,389 shares during the period. Finally, Bessemer Group Inc. lifted 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 in the last quarter. Institutional investors and hedge funds own 98.34% of the company's stock.

Analysts Set New Price Targets

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

Transcat Trading Down 0.6%

Transcat stock opened at $83.95 on Friday. Transcat, Inc. has a 12 month low of $67.56 and a 12 month high of $133.72. 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 cap of $782.41 million, a P/E ratio of 58.71 and a beta of 0.71. The company's fifty day simple moving average is $83.24 and its 200-day simple moving average is $80.88.

Transcat (NASDAQ:TRNS - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The scientific and technical instruments company reported $0.59 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.40 by $0.19. Transcat had a return on equity of 6.66% and a net margin of 4.64%.The firm had revenue of $76.42 million during the quarter, compared to analysts' expectations of $72.28 million. As a group, sell-side analysts forecast that Transcat, Inc. will post 2.3 EPS for the current fiscal year.

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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