Wellington Management Group LLP Buys Shares of 317,015 Transcat, Inc. $TRNS

Wellington Management Group LLP purchased a new stake in shares of Transcat, Inc. (NASDAQ:TRNS) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 317,015 shares of the scientific and technical instruments company’s stock, valued at approximately $29,409,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Persistent Asset Partners Ltd purchased a new stake in Transcat during the second quarter valued at about $52,000. Lazard Asset Management LLC purchased a new position in shares of Transcat in the second quarter worth about $54,000. Tower Research Capital LLC TRC raised its position in shares of Transcat by 245.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,123 shares of the scientific and technical instruments company’s stock valued at $97,000 after purchasing an additional 798 shares during the period. Canada Pension Plan Investment Board bought a new stake in shares of Transcat in the second quarter valued at approximately $204,000. Finally, The Manufacturers Life Insurance Company purchased a new stake in shares of Transcat during the 2nd quarter valued at approximately $226,000. Institutional investors own 98.34% of the company’s stock.

Transcat Price Performance

Shares of NASDAQ:TRNS opened at $85.48 on Friday. The company has a 50 day moving average of $89.34 and a 200 day moving average of $82.78. The stock has a market cap of $800.09 million, a P/E ratio of 231.03 and a beta of 0.68. Transcat, Inc. has a 12 month low of $50.23 and a 12 month high of $100.00. The company has a current ratio of 2.49, a quick ratio of 2.11 and a debt-to-equity ratio of 0.36.

Transcat (NASDAQ:TRNS) last posted its earnings results on Tuesday, August 4th. The scientific and technical instruments company reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.13. Transcat had a net margin of 0.99% and a return on equity of 5.56%. The business had revenue of $92.95 million for the quarter, compared to analysts’ expectations of $86.55 million. As a group, sell-side analysts forecast that Transcat, Inc. will post 1.74 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently commented on TRNS. Northland Securities downgraded shares of Transcat from an “outperform” rating to a “market perform” rating and set a $95.00 price objective for the company. in a report on Wednesday, August 5th. Wall Street Zen raised shares of Transcat from a “sell” rating to a “hold” rating in a report on Sunday, June 28th. Zacks Research upgraded Transcat from a “strong sell” rating to a “hold” rating in a research report on Friday, May 15th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Transcat in a report on Tuesday, August 25th. Two investment analysts have rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $95.00.

Insider Buying and Selling at Transcat

In related news, Director Christopher Gillette sold 504 shares of Transcat stock in a transaction on Friday, August 7th. The stock was sold at an average price of $94.23, for a total transaction of $47,491.92. Following the completion of the sale, the director owned 200 shares of the company’s stock, valued at approximately $18,846. This trade represents a 71.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Craig D. Cairns bought 1,050 shares of Transcat stock in a transaction that occurred on Thursday, August 6th. The shares were acquired at an average price of $93.97 per share, with a total value of $98,668.50. Following the completion of the transaction, the director owned 1,480 shares of the company’s stock, valued at $139,075.60. This represents a 244.19% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 1.80% of the company’s stock.

About Transcat

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.