Bessemer Group Inc. Sells 234,671 Shares of Transcat, Inc. $TRNS

Bessemer Group Inc. decreased its holdings in Transcat, Inc. (NASDAQ:TRNS) by 96.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,820 shares of the scientific and technical instruments company’s stock after selling 234,671 shares during the period. Bessemer Group Inc. owned 0.11% of Transcat worth $718,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Jones Financial Companies Lllp boosted its stake in Transcat by 79.2% in the 3rd quarter. Jones Financial Companies Lllp now owns 1,634 shares of the scientific and technical instruments company’s stock worth $120,000 after purchasing an additional 722 shares during the period. AlphaQuest LLC lifted its holdings in shares of Transcat by 12,915.4% in the third quarter. AlphaQuest LLC now owns 1,692 shares of the scientific and technical instruments company’s stock worth $124,000 after buying an additional 1,679 shares in the last quarter. State of Alaska Department of Revenue bought a new position in shares of Transcat during the third quarter worth $40,000. SG Americas Securities LLC purchased a new position in Transcat during the third quarter valued at $955,000. Finally, Annex Advisory Services LLC grew its stake in Transcat by 20.4% during the third quarter. Annex Advisory Services LLC now owns 29,149 shares of the scientific and technical instruments company’s stock valued at $2,134,000 after acquiring an additional 4,945 shares in the last quarter. Hedge funds and other institutional investors own 98.34% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Northland Securities set a $95.00 price target on shares of Transcat in a research note on Thursday, October 23rd. Weiss Ratings reiterated a “sell (d+)” rating on shares of Transcat in a research report on Monday, December 29th. Finally, Zacks Research lowered Transcat from a “hold” rating to a “strong sell” rating in a research note on Tuesday, February 3rd. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Transcat currently has a consensus rating of “Hold” and an average price target of $105.33.

Transcat Price Performance

Transcat stock opened at $79.73 on Wednesday. The company has a market cap of $743.88 million, a price-to-earnings ratio of 93.80 and a beta of 0.79. The firm’s fifty day moving average is $61.25 and its 200 day moving average is $68.19. The company has a quick ratio of 1.85, a current ratio of 2.21 and a debt-to-equity ratio of 0.34. Transcat, Inc. has a 52-week low of $50.23 and a 52-week high of $97.08.

Transcat (NASDAQ:TRNS) last issued its quarterly earnings data on Tuesday, February 3rd. The scientific and technical instruments company reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.04). Transcat had a return on equity of 6.15% and a net margin of 2.47%.The business had revenue of $83.86 million during the quarter, compared to analysts’ expectations of $80.99 million. Sell-side analysts forecast that Transcat, Inc. will post 2.3 EPS for the current fiscal year.

Transcat Company Profile

Transcat, Inc (NASDAQ: TRNS) is a leading provider of calibration, laboratory, and metrology services in North America. Founded in 1964 and headquartered in Ronkonkoma, New York, the company specializes in ensuring the accuracy and compliance of measurement instruments across a wide range of industries. Transcat operates a network of ISO/IEC 17025–accredited laboratories and offers on-site field calibration, instrument repair, and preventive maintenance services.

In addition to its calibration services, Transcat distributes precision instrumentation and related software solutions from top manufacturers.