Fintel reports that BlackRock has filed a 13G/A form with the SEC disclosing ownership of 0.46MM shares of Transcat, Inc. (TRNS). This represents 6.0% of the company.
In their previous filing dated February 1, 2022 they reported 0.45MM shares and 5.90% of the company, an increase in shares of 2.06% and an increase in total ownership of 0.10% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 4.01% Upside
As of February 1, 2023, the average one-year price target for Transcat is $86.87. The forecasts range from a low of $80.80 to a high of $94.50. The average price target represents an increase of 4.01% from its latest reported closing price of $83.52.
The projected annual revenue for Transcat is $231MM, an increase of 2.88%. The projected annual EPS is $1.42, an increase of 5.90%.
Fund Sentiment
There are 248 funds or institutions reporting positions in Transcat. This is a decrease of 1 owner(s) or 0.40%.
Average portfolio weight of all funds dedicated to US:TRNS is 0.3922%, an increase of 42.6344%. Total shares owned by institutions increased in the last three months by 1.76% to 8,502K shares.
What are large shareholders doing?
Neuberger Berman Group holds 838,892 shares representing 11.10% ownership of the company. In it's prior filing, the firm reported owning 823,136 shares, representing an increase of 1.88%. The firm decreased its portfolio allocation in TRNS by 27.96% over the last quarter.
Conestoga Capital Advisors holds 726,827 shares representing 9.62% ownership of the company. In it's prior filing, the firm reported owning 727,872 shares, representing a decrease of 0.14%. The firm decreased its portfolio allocation in TRNS by 10.59% over the last quarter.
Fred Alger Management holds 665,995 shares representing 8.81% ownership of the company. In it's prior filing, the firm reported owning 462,431 shares, representing an increase of 30.57%. The firm increased its portfolio allocation in TRNS by 108.19% over the last quarter.
NBGNX - Neuberger Berman Genesis Fund Investor Class holds 486,244 shares representing 6.43% ownership of the company. No change in the last quarter.
CCASX - Conestoga Small Cap Fund Investors Class holds 483,824 shares representing 6.40% ownership of the company. In it's prior filing, the firm reported owning 378,424 shares, representing an increase of 21.78%. The firm increased its portfolio allocation in TRNS by 81.56% over the last quarter.
Transcat Background Information
(This description is provided by the company.)
Transcat, Inc. is a leading provider of accredited calibration, repair, inspection and laboratory instrument services. The Company is focused on providing best-in-class services and products to highly regulated industries, particularly the Life Science industry, which includes pharmaceutical, biotechnology, medical device and other FDA-regulated businesses; as well as aerospace and defense, and energy and utilities. Transcat provides periodic on-site services, mobile calibration services, pickup and delivery, in-house services at its 22 Calibration Service Centers strategically located across the United States, Puerto Rico and Canada, and services at 20 imbedded customer-site locations. The breadth and depth of measurementparameters addressed by Transcat'sISO/IEC 17025 scopes of accreditation are believed to be the best in the industry. Transcat also operates as a leading value-added distributor that markets, sells and rents new and used national and proprietary brand instruments to customers primarily in North America. The Company believes its combined Service and Distribution segment offerings, experience, technical expertise and integrity create a unique and compelling value proposition for its customers. Transcat's strategy is to leverage the complementary nature of its two operating segments, its comprehensive service capabilities, strong brand, enhanced e-commerce capabilities and leading distribution platform to drive organic sales growth. The Company will also look to expand its addressable calibration market through acquisitions and capability investments to further realize the inherent leverage of its business model.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
