The Manufacturers Life Insurance Company Acquires 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% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,312 shares of the scientific and technical instruments company’s stock after acquiring 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 filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in TRNS. DekaBank Deutsche Girozentrale bought a new position in Transcat during the second quarter worth about $40,000. First Horizon Advisors Inc. lifted its holdings in Transcat by 26.4% during the second quarter. First Horizon Advisors Inc. now owns 599 shares of the scientific and technical instruments company’s stock worth $72,000 after acquiring an additional 125 shares in the last quarter. Fifth Third Bancorp lifted its holdings in Transcat by 95.8% during the second quarter. Fifth Third Bancorp now owns 656 shares of the scientific and technical instruments company’s stock worth $79,000 after acquiring an additional 321 shares in the last quarter. Quest Partners LLC bought a new position in Transcat during the second quarter worth about $109,000. Finally, Hamilton Wealth LLC acquired a new stake in shares of Transcat in the 1st quarter valued at about $212,000. 98.34% of the stock is currently owned by institutional investors.

Transcat Stock Performance

NASDAQ:TRNS opened at $128.80 on Thursday. The stock’s 50-day simple moving average is $122.50 and its 200 day simple moving average is $121.36. The company has a market cap of $1.18 billion, a P/E ratio of 76.21 and a beta of 0.67. Transcat, Inc. has a 52-week low of $84.45 and a 52-week high of $147.12.

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

Wall Street Analyst Weigh In

TRNS has been the topic of several recent research reports. 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 dropped their price target on Transcat from $150.00 to $138.00 and set a “buy” rating on the stock in a research note on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Transcat presently has an average rating of “Moderate Buy” and a consensus target price of $151.33.

About Transcat

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.