Fifth Third Bancorp Buys 47,134 Shares of Transcat, Inc. $TRNS

Fifth Third Bancorp raised its stake in Transcat, Inc. (NASDAQ:TRNS) by 6,267.8% during the 1st quarter, Holdings Channel.com reports. The firm owned 47,886 shares of the scientific and technical instruments company’s stock after buying an additional 47,134 shares during the quarter. Fifth Third Bancorp’s holdings in Transcat were worth $3,517,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Wellington Management Group LLP grew its position in shares of Transcat by 677.7% in the 4th quarter. Wellington Management Group LLP now owns 248,539 shares of the scientific and technical instruments company’s stock worth $14,100,000 after buying an additional 216,579 shares during the last quarter. First Eagle Investment Management LLC purchased a new position in Transcat in the fourth quarter worth $7,259,000. King Luther Capital Management Corp grew its holdings in Transcat by 182.3% in the fourth quarter. King Luther Capital Management Corp now owns 103,750 shares of the scientific and technical instruments company’s stock worth $5,886,000 after purchasing an additional 67,000 shares during the last quarter. Royce & Associates LP increased its position in shares of Transcat by 15.3% during the fourth quarter. Royce & Associates LP now owns 390,546 shares of the scientific and technical instruments company’s stock worth $22,156,000 after purchasing an additional 51,774 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Transcat by 109.7% during the fourth quarter. Renaissance Technologies LLC now owns 95,200 shares of the scientific and technical instruments company’s stock worth $5,401,000 after purchasing an additional 49,800 shares in the last quarter. 98.34% of the stock is owned by hedge funds and other institutional investors.

Transcat Stock Performance

Shares of Transcat stock opened at $87.90 on Monday. The firm’s 50 day simple moving average is $85.88 and its two-hundred day simple moving average is $76.94. The firm has a market capitalization of $820.99 million, a price-to-earnings ratio of 151.55 and a beta of 0.69. Transcat, Inc. has a 12-month low of $50.23 and a 12-month high of $95.22. The company has a current ratio of 2.33, a quick ratio of 1.99 and a debt-to-equity ratio of 0.33.

Transcat (NASDAQ:TRNS) last posted its quarterly earnings data on Tuesday, May 26th. The scientific and technical instruments company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.51 by $0.05. The business had revenue of $89.33 million during the quarter, compared to the consensus estimate of $89.79 million. Transcat had a net margin of 1.62% and a return on equity of 5.84%. Analysts predict that Transcat, Inc. will post 1.71 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on TRNS shares. Weiss Ratings raised Transcat from a “sell (d)” rating to a “sell (d+)” rating in a research report on Thursday, May 28th. Wall Street Zen raised Transcat from a “sell” rating to a “hold” rating in a research report on Sunday, June 28th. Finally, Zacks Research upgraded Transcat from a “strong sell” rating to a “hold” rating in a research note on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Transcat currently has a consensus rating of “Moderate Buy” and an average target price of $105.50.

Transcat 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.