Riverbridge Partners LLC Sells 18,221 Shares of Transcat, Inc. (NASDAQ:TRNS)

Riverbridge Partners LLC trimmed its stake in Transcat, Inc. (NASDAQ:TRNS - Free Report) by 7.4% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 226,820 shares of the scientific and technical instruments company's stock after selling 18,221 shares during the quarter. Riverbridge Partners LLC owned 2.44% of Transcat worth $16,887,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the stock. Rhumbline Advisers increased its position in Transcat by 4.1% in the fourth quarter. Rhumbline Advisers now owns 12,348 shares of the scientific and technical instruments company's stock worth $1,306,000 after buying an additional 486 shares in the last quarter. Principal Financial Group Inc. grew its holdings in Transcat by 8.5% during the 4th quarter. Principal Financial Group Inc. now owns 5,002 shares of the scientific and technical instruments company's stock valued at $529,000 after buying an additional 391 shares in the last quarter. Morgan Dempsey Capital Management LLC purchased a new position in Transcat during the 4th quarter valued at approximately $143,000. Jones Financial Companies Lllp grew its holdings in Transcat by 686.7% during the 4th quarter. Jones Financial Companies Lllp now owns 354 shares of the scientific and technical instruments company's stock valued at $37,000 after buying an additional 309 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in Transcat by 1.2% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 75,700 shares of the scientific and technical instruments company's stock valued at $8,005,000 after buying an additional 868 shares in the last quarter. 98.34% of the stock is owned by institutional investors.

Transcat Trading Up 1.2%

TRNS opened at $81.09 on Friday. The stock's fifty day moving average is $82.74 and its two-hundred day moving average is $86.58. The company has a market capitalization of $755.76 million, a P/E ratio of 51.98 and a beta of 0.75. Transcat, Inc. has a 52 week low of $67.56 and a 52 week high of $147.12. The company has a quick ratio of 1.87, a current ratio of 2.29 and a debt-to-equity ratio of 0.11.

Transcat (NASDAQ:TRNS - Get Free Report) last released its quarterly earnings results on Monday, May 19th. The scientific and technical instruments company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.66 by ($0.02). The company had revenue of $77.13 million during the quarter, compared to the consensus estimate of $76.40 million. Transcat had a return on equity of 6.47% and a net margin of 5.21%. Transcat's revenue for the quarter was up 8.8% on a year-over-year basis. Analysts forecast that Transcat, Inc. will post 2.3 earnings per share for the current year.

Analyst Ratings Changes

TRNS has been the subject of several research analyst reports. HC Wainwright restated a "buy" rating and set a $116.00 price target (up previously from $106.00) on shares of Transcat in a report on Wednesday, May 21st. Wall Street Zen raised Transcat from a "sell" rating to a "hold" rating in a research note on Wednesday, May 28th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $114.00.

Transcat Company 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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