The Manufacturers Life Insurance Company Buys 263 Shares of Transcat, Inc. (NASDAQ:TRNS)

The Manufacturers Life Insurance Company boosted its holdings in shares of Transcat, Inc. (NASDAQ:TRNS) by 8.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,312 shares of the scientific and technical instruments company’s stock after purchasing an additional 263 shares during the period. The Manufacturers Life Insurance Company’s holdings in Transcat were worth $396,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TRNS. Wasatch Advisors LP increased its holdings in Transcat by 7.9% during the 1st quarter. Wasatch Advisors LP now owns 756,220 shares of the scientific and technical instruments company’s stock valued at $84,266,000 after purchasing an additional 55,121 shares in the last quarter. Hood River Capital Management LLC increased its holdings in Transcat by 21.6% during the 2nd quarter. Hood River Capital Management LLC now owns 196,838 shares of the scientific and technical instruments company’s stock valued at $23,558,000 after purchasing an additional 34,947 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Transcat by 208.3% during the 1st 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. Calamos Advisors LLC increased its holdings in Transcat by 76.0% during the 2nd quarter. Calamos Advisors LLC now owns 15,441 shares of the scientific and technical instruments company’s stock valued at $1,848,000 after purchasing an additional 6,667 shares in the last quarter. Finally, Inspire Investing LLC acquired a new stake in Transcat during the 2nd quarter valued at $772,000. 98.34% of the stock is owned by institutional investors and hedge funds.

Transcat Stock Up 1.5 %

NASDAQ:TRNS opened at $128.80 on Thursday. Transcat, Inc. has a 12-month low of $84.45 and a 12-month high of $147.12. The firm has a market capitalization of $1.18 billion, a P/E ratio of 76.21 and a beta of 0.67. The stock’s fifty day simple moving average is $122.50 and its 200-day simple moving average is $121.36.

Transcat (NASDAQ:TRNS) last posted its quarterly earnings results on Monday, July 29th. The scientific and technical instruments company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.28 by $0.20. Transcat had a return on equity of 8.48% and a net margin of 5.69%. The business had revenue of $66.70 million for the quarter, compared to analyst estimates of $69.35 million. During the same period last year, the company earned $0.38 EPS. The firm’s revenue was up 10.1% on a year-over-year basis. As a group, equities research analysts expect that Transcat, Inc. will post 2.06 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have commented on TRNS shares. HC Wainwright reiterated a “buy” rating and issued a $156.00 price objective on shares of Transcat in a research report on Tuesday, July 30th. Craig Hallum decreased their price objective on Transcat from $150.00 to $138.00 and set a “buy” rating on the stock in a research report on Wednesday, July 31st. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Transcat presently has a consensus rating of “Moderate Buy” and a consensus target price of $151.33.

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.