Principal Financial Group Inc. Has $507,000 Stake in Transcat, Inc. (NASDAQ:TRNS)

Principal Financial Group Inc. grew its position in shares of Transcat, Inc. (NASDAQ:TRNS) by 11.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,238 shares of the scientific and technical instruments company’s stock after buying an additional 450 shares during the quarter. Principal Financial Group Inc.’s holdings in Transcat were worth $507,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Conestoga Capital Advisors LLC raised its position in Transcat by 0.3% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 769,361 shares of the scientific and technical instruments company’s stock worth $92,077,000 after purchasing an additional 2,155 shares during the last quarter. Wasatch Advisors LP boosted its stake 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 worth $84,266,000 after acquiring an additional 55,121 shares during the last quarter. Broadcrest Asset Management LLC grew its holdings in shares of Transcat by 17.6% in the 4th quarter. Broadcrest Asset Management LLC now owns 400,000 shares of the scientific and technical instruments company’s stock valued at $43,732,000 after buying an additional 60,000 shares during the period. Hood River Capital Management LLC grew its stake in Transcat by 7.2% in the first quarter. Hood River Capital Management LLC now owns 161,891 shares of the scientific and technical instruments company’s stock valued at $18,040,000 after acquiring an additional 10,803 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its stake in Transcat by 14.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 68,339 shares of the scientific and technical instruments company’s stock worth $7,472,000 after purchasing an additional 8,857 shares in the last quarter. 98.34% of the stock is owned by institutional investors and hedge funds.

Transcat Trading Down 0.1 %

Shares of NASDAQ:TRNS opened at $123.24 on Friday. The firm has a 50 day moving average of $123.97 and a 200-day moving average of $118.90. Transcat, Inc. has a 12 month low of $84.45 and a 12 month high of $147.12. The stock has a market capitalization of $1.13 billion, a PE ratio of 77.51 and a beta of 0.67.

Transcat (NASDAQ:TRNS) last posted its earnings results on Monday, July 29th. The scientific and technical instruments company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.20. The firm had revenue of $66.70 million during the quarter, compared to analysts’ expectations of $69.35 million. Transcat had a net margin of 5.69% and a return on equity of 8.48%. The business’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.38 earnings per share. On average, research analysts predict that Transcat, Inc. will post 2.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on TRNS shares. HC Wainwright reissued a “buy” rating and issued a $156.00 price target on shares of Transcat in a research note on Tuesday, July 30th. Craig Hallum cut their price target on shares of Transcat from $150.00 to $138.00 and set a “buy” rating for the company in a research note on Wednesday, July 31st. Northland Securities downgraded Transcat from an “outperform” rating to a “market perform” rating in a research note on Wednesday, May 22nd. Oppenheimer upped their price target on shares of Transcat from $125.00 to $160.00 and gave the company an “outperform” rating in a research note on Wednesday, May 22nd. Finally, Northland Capmk cut Transcat from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, May 22nd. Three investment 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, Transcat currently has an average rating of “Moderate Buy” and a consensus target price of $151.33.

Transcat Company 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.