Commonwealth Equity Services LLC Has $433,000 Stock Position in Transcat, Inc. (NASDAQ:TRNS)

Commonwealth Equity Services LLC trimmed its stake in shares of Transcat, Inc. (NASDAQ:TRNS) by 19.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,621 shares of the scientific and technical instruments company’s stock after selling 885 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Transcat were worth $433,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. boosted its holdings in shares of Transcat by 26.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 599 shares of the scientific and technical instruments company’s stock worth $72,000 after acquiring an additional 125 shares in the last quarter. Fifth Third Bancorp boosted its holdings in shares of Transcat by 95.8% in the 2nd quarter. Fifth Third Bancorp now owns 656 shares of the scientific and technical instruments company’s stock worth $79,000 after acquiring an additional 321 shares in the last quarter. Hamilton Wealth LLC acquired a new position in shares of Transcat in the 1st quarter worth approximately $212,000. Virtu Financial LLC acquired a new position in shares of Transcat in the 1st quarter worth approximately $224,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Transcat by 13.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,347 shares of the scientific and technical instruments company’s stock worth $262,000 after acquiring an additional 284 shares in the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

Transcat Stock Performance

Shares of NASDAQ:TRNS opened at $128.02 on Friday. Transcat, Inc. has a 52-week low of $84.45 and a 52-week high of $147.12. The company has a market capitalization of $1.17 billion, a P/E ratio of 80.52 and a beta of 0.67. The company has a 50-day simple moving average of $124.52 and a 200 day simple moving average of $119.83.

Transcat (NASDAQ:TRNS) last issued its quarterly earnings data on Monday, July 29th. The scientific and technical instruments company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.20. The firm had revenue of $66.70 million during the quarter, compared to the consensus estimate of $69.35 million. Transcat had a net margin of 5.69% and a return on equity of 8.48%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same period last year, the business posted $0.38 earnings per share. As a group, equities analysts forecast that Transcat, Inc. will post 2.06 earnings per share for the current year.

Wall Street Analyst Weigh In

TRNS has been the topic of several recent analyst reports. Craig Hallum reduced their target price on Transcat from $150.00 to $138.00 and set a “buy” rating on the stock in a report on Wednesday, July 31st. HC Wainwright reaffirmed a “buy” rating and set a $156.00 price objective on shares of Transcat in a report on Tuesday, July 30th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $151.33.

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.