Principal Financial Group Inc. Has $557,000 Position in Transcat, Inc. (NASDAQ:TRNS)

Principal Financial Group Inc. increased its holdings in shares of Transcat, Inc. (NASDAQ:TRNS) by 8.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 4,611 shares of the scientific and technical instruments company’s stock after acquiring an additional 373 shares during the period. Principal Financial Group Inc.’s holdings in Transcat were worth $557,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Quadrature Capital Ltd bought a new position in Transcat in the first quarter worth approximately $619,000. Price T Rowe Associates Inc. MD increased its position in Transcat by 13.8% in the first 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 buying an additional 284 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in Transcat by 14.3% in the first quarter. Public Employees Retirement System of Ohio now owns 32,275 shares of the scientific and technical instruments company’s stock worth $3,596,000 after buying an additional 4,048 shares during the last quarter. Silvercrest Asset Management Group LLC grew its position in shares of Transcat by 4.6% in the first quarter. Silvercrest Asset Management Group LLC now owns 58,381 shares of the scientific and technical instruments company’s stock valued at $6,505,000 after purchasing an additional 2,542 shares in the last quarter. Finally, Janus Henderson Group PLC grew its position in shares of Transcat by 208.3% in the first quarter. Janus Henderson Group PLC now owns 10,297 shares of the scientific and technical instruments company’s stock valued at $1,147,000 after purchasing an additional 6,957 shares in the last quarter. Institutional investors and hedge funds own 98.34% of the company’s stock.

Transcat Price Performance

NASDAQ TRNS opened at $109.02 on Monday. The business’s fifty day moving average price is $116.61 and its 200-day moving average price is $121.55. The stock has a market capitalization of $1.00 billion, a price-to-earnings ratio of 55.06 and a beta of 0.69. Transcat, Inc. has a 1-year low of $94.29 and a 1-year high of $147.12.

Transcat (NASDAQ:TRNS) last announced its earnings results on Monday, October 28th. The scientific and technical instruments company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.47 by ($0.12). Transcat had a return on equity of 7.36% and a net margin of 6.63%. The company had revenue of $67.83 million during the quarter, compared to the consensus estimate of $70.30 million. During the same period in the prior year, the business posted $0.41 earnings per share. Transcat’s revenue for the quarter was up 8.0% compared to the same quarter last year. Equities research analysts anticipate that Transcat, Inc. will post 1.76 EPS for the current year.

Analyst Ratings Changes

Several equities analysts recently commented on TRNS shares. Northland Securities reduced their target price on Transcat from $130.00 to $110.00 and set a “market perform” rating for the company in a research report on Wednesday, October 30th. HC Wainwright restated a “buy” rating and set a $156.00 price target on shares of Transcat in a report on Tuesday, October 29th. Oppenheimer reiterated an “outperform” rating and set a $130.00 target price (down previously from $155.00) on shares of Transcat in a report on Wednesday, October 30th. Craig Hallum cut their price target on Transcat from $138.00 to $113.00 and set a “buy” rating on the stock in a research note on Wednesday, October 30th. Finally, StockNews.com cut Transcat from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $127.25.

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.