Principal Financial Group Inc. Raises Stock Position in Transcat, Inc. (NASDAQ:TRNS)

Principal Financial Group Inc. raised its stake in shares of Transcat, Inc. (NASDAQ:TRNS) by 8.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,611 shares of the scientific and technical instruments company’s stock after purchasing an additional 373 shares during the period. Principal Financial Group Inc. owned 0.05% of Transcat worth $557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of TRNS. Conestoga Capital Advisors LLC raised its position in Transcat by 17.9% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 907,191 shares of the scientific and technical instruments company’s stock worth $109,561,000 after purchasing an additional 137,830 shares during the period. Millrace Asset Group Inc. purchased a new position in Transcat in the 3rd quarter worth about $655,000. Champlain Investment Partners LLC boosted its holdings in shares of Transcat by 22.1% in the third quarter. Champlain Investment Partners LLC now owns 409,500 shares of the scientific and technical instruments company’s stock valued at $49,455,000 after purchasing an additional 74,169 shares during the period. State Street Corp increased its stake in shares of Transcat by 8.1% during the third quarter. State Street Corp now owns 207,230 shares of the scientific and technical instruments company’s stock valued at $25,027,000 after buying an additional 15,514 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in shares of Transcat by 64.0% in the 3rd quarter. BNP Paribas Financial Markets now owns 22,661 shares of the scientific and technical instruments company’s stock worth $2,737,000 after purchasing an additional 8,844 shares during the period. 98.34% of the stock is currently owned by institutional investors.

Transcat Stock Performance

NASDAQ TRNS opened at $108.26 on Monday. The firm has a market cap of $995.88 million, a price-to-earnings ratio of 54.68 and a beta of 0.71. The firm has a 50 day simple moving average of $105.72 and a 200-day simple moving average of $117.39. Transcat, Inc. has a one year low of $94.29 and a one year high of $147.12.

Transcat (NASDAQ:TRNS) last announced its quarterly earnings data 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). The firm had revenue of $67.83 million during the quarter, compared to analysts’ expectations of $70.30 million. Transcat had a net margin of 6.63% and a return on equity of 7.36%. The company’s revenue for the quarter was up 8.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.41 earnings per share. Equities analysts predict that Transcat, Inc. will post 1.76 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

TRNS has been the topic of a number of recent research reports. HC Wainwright reaffirmed a “buy” rating and set a $156.00 price objective on shares of Transcat in a research report on Tuesday, October 29th. StockNews.com lowered Transcat from a “hold” rating to a “sell” rating in a research report on Tuesday, October 29th. Oppenheimer restated an “outperform” rating and issued a $130.00 price objective (down previously from $155.00) on shares of Transcat in a report on Wednesday, October 30th. Craig Hallum increased their price objective on shares of Transcat from $113.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, December 12th. Finally, Northland Securities lowered their target price on Transcat from $130.00 to $110.00 and set a “market perform” rating on the stock in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $130.25.

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.