Transcat, Inc. (NASDAQ:TRNS) Shares Sold by Neuberger Berman Group LLC

Neuberger Berman Group LLC lessened its stake in Transcat, Inc. (NASDAQ:TRNS) by 1.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 827,551 shares of the scientific and technical instruments company’s stock after selling 14,847 shares during the quarter. Neuberger Berman Group LLC owned about 0.11% of Transcat worth $73,975,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. Conestoga Capital Advisors LLC boosted its holdings in shares of Transcat by 0.6% in the 1st quarter. Conestoga Capital Advisors LLC now owns 731,044 shares of the scientific and technical instruments company’s stock valued at $65,348,000 after purchasing an additional 4,217 shares during the last quarter. Fred Alger Management LLC lifted its holdings in shares of Transcat by 3.0% during the 4th quarter. Fred Alger Management LLC now owns 685,662 shares of the scientific and technical instruments company’s stock valued at $48,593,000 after acquiring an additional 19,667 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Transcat by 0.5% during the 1st quarter. BlackRock Inc. now owns 457,722 shares of the scientific and technical instruments company’s stock valued at $40,916,000 after acquiring an additional 2,270 shares in the last quarter. Champlain Investment Partners LLC lifted its holdings in shares of Transcat by 3.2% during the 1st quarter. Champlain Investment Partners LLC now owns 394,200 shares of the scientific and technical instruments company’s stock valued at $35,238,000 after acquiring an additional 12,080 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Transcat by 2.5% during the 1st quarter. Vanguard Group Inc. now owns 349,999 shares of the scientific and technical instruments company’s stock valued at $28,399,000 after acquiring an additional 8,700 shares in the last quarter. Institutional investors and hedge funds own 89.75% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on TRNS. HC Wainwright lifted their target price on shares of Transcat from $102.00 to $106.00 and gave the company a “buy” rating in a report on Monday, August 7th. Northland Securities lifted their target price on shares of Transcat from $100.00 to $110.00 in a report on Wednesday, May 24th. StockNews.com began coverage on shares of Transcat in a report on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Craig Hallum lifted their target price on shares of Transcat from $103.00 to $112.00 in a report on Tuesday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Transcat currently has an average rating of “Moderate Buy” and an average target price of $105.50.

Transcat Stock Performance

Transcat stock opened at $111.51 on Friday. Transcat, Inc. has a 12-month low of $65.60 and a 12-month high of $114.30. The company has a market capitalization of $888.73 million, a price-to-earnings ratio of 80.80 and a beta of 0.67. The company has a debt-to-equity ratio of 0.42, a current ratio of 2.68 and a quick ratio of 2.04. The firm’s fifty day moving average price is $92.21 and its 200 day moving average price is $88.22.

Transcat (NASDAQ:TRNS) last released its quarterly earnings results on Monday, July 31st. The scientific and technical instruments company reported $0.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.27 by $0.11. Transcat had a net margin of 4.47% and a return on equity of 10.62%. The firm had revenue of $60.60 million for the quarter, compared to the consensus estimate of $59.63 million. On average, research analysts forecast that Transcat, Inc. will post 1.66 EPS for the current fiscal year.

Insider Buying and Selling

In other news, insider Scott Deverell sold 1,000 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $101.66, for a total value of $101,660.00. Following the completion of the sale, the insider now owns 1,685 shares of the company’s stock, valued at approximately $171,297.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Scott Deverell sold 1,000 shares of the company’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $101.66, for a total value of $101,660.00. Following the sale, the insider now owns 1,685 shares in the company, valued at approximately $171,297.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Lee D. Rudow sold 5,089 shares of the company’s stock in a transaction dated Friday, July 21st. The shares were sold at an average price of $84.88, for a total transaction of $431,954.32. Following the completion of the sale, the chief executive officer now owns 135,468 shares in the company, valued at approximately $11,498,523.84. The disclosure for this sale can be found here. Insiders have sold 11,902 shares of company stock valued at $1,124,099 in the last quarter. Company insiders own 4.20% of the company’s stock.

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.