Nuveen LLC Takes $1.57 Million Position 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 shares of Transcat, Inc. (NASDAQ:TRNS - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 21,103 shares of the scientific and technical instruments company's stock, valued at approximately $1,571,000. Nuveen LLC owned about 0.23% of Transcat at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in TRNS. Wells Fargo & Company MN increased its position in shares of Transcat by 52.3% during the fourth quarter. Wells Fargo & Company MN now owns 4,259 shares of the scientific and technical instruments company's stock valued at $450,000 after acquiring an additional 1,463 shares during the last quarter. Barclays PLC increased its position in shares of Transcat by 7.3% during the fourth quarter. Barclays PLC now owns 16,234 shares of the scientific and technical instruments company's stock valued at $1,717,000 after acquiring an additional 1,104 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of Transcat by 5.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 209,200 shares of the scientific and technical instruments company's stock valued at $22,121,000 after acquiring an additional 10,186 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of Transcat by 10.6% during the fourth quarter. MetLife Investment Management LLC now owns 5,430 shares of the scientific and technical instruments company's stock valued at $574,000 after acquiring an additional 519 shares during the last quarter. Finally, Hsbc Holdings PLC acquired a new stake in shares of Transcat during the fourth quarter valued at about $519,000. 98.34% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

TRNS has been the subject of a number of recent analyst reports. HC Wainwright reiterated a "buy" rating and set a $116.00 price target on shares of Transcat in a research report on Friday, August 22nd. Wall Street Zen upgraded shares of Transcat from a "sell" rating to a "hold" rating in a research report on Wednesday, May 28th. Finally, Lake Street Capital assumed 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 equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $112.20.

Transcat Stock Down 3.1%

Shares of NASDAQ:TRNS traded down $2.47 during trading on Thursday, hitting $77.65. 135,055 shares of the company were exchanged, compared to its average volume of 102,000. The stock has a market capitalization of $723.70 million, a P/E ratio of 54.30 and a beta of 0.72. The company has a debt-to-equity ratio of 0.11, a current ratio of 2.92 and a quick ratio of 2.36. Transcat, Inc. has a 12-month low of $67.56 and a 12-month high of $133.72. The firm's 50 day moving average price is $83.14 and its 200-day moving average price is $80.82.

Transcat (NASDAQ:TRNS - Get Free Report) last issued its quarterly earnings data on Wednesday, August 6th. The scientific and technical instruments company reported $0.59 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.19. The business had revenue of $76.42 million during the quarter, compared to the consensus estimate of $72.28 million. Transcat had a net margin of 4.64% and a return on equity of 6.66%. On average, research analysts predict that Transcat, Inc. will post 2.3 earnings per share 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.