Corebridge Financial Inc. Sells 339 Shares of Transcat, Inc. (NASDAQ:TRNS)

Corebridge Financial Inc. lowered its stake in Transcat, Inc. (NASDAQ:TRNS) by 7.0% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 4,489 shares of the scientific and technical instruments company’s stock after selling 339 shares during the quarter. Corebridge Financial Inc.’s holdings in Transcat were worth $475,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TRNS. Geode Capital Management LLC boosted its holdings in Transcat by 5.4% in the third quarter. Geode Capital Management LLC now owns 217,473 shares of the scientific and technical instruments company’s stock worth $26,269,000 after acquiring an additional 11,106 shares in the last quarter. State Street Corp raised its position in shares of Transcat by 8.1% in the 3rd quarter. State Street Corp now owns 207,230 shares of the scientific and technical instruments company’s stock worth $25,027,000 after purchasing an additional 15,514 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Transcat by 1.2% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 75,700 shares of the scientific and technical instruments company’s stock worth $8,005,000 after purchasing an additional 868 shares in the last quarter. Catawba River Capital grew its position in Transcat by 2.2% during the 4th quarter. Catawba River Capital now owns 67,300 shares of the scientific and technical instruments company’s stock valued at $7,116,000 after purchasing an additional 1,473 shares during the last quarter. Finally, Rice Hall James & Associates LLC increased its stake in Transcat by 40.2% during the 4th quarter. Rice Hall James & Associates LLC now owns 35,685 shares of the scientific and technical instruments company’s stock valued at $3,773,000 after purchasing an additional 10,238 shares in the last quarter. Institutional investors own 98.34% of the company’s stock.

Transcat Price Performance

NASDAQ TRNS opened at $74.17 on Wednesday. The stock has a market capitalization of $690.45 million, a price-to-earnings ratio of 40.09 and a beta of 0.67. Transcat, Inc. has a 1-year low of $67.56 and a 1-year high of $147.12. The company has a debt-to-equity ratio of 0.14, a current ratio of 2.42 and a quick ratio of 1.98. The business’s fifty day moving average price is $76.41 and its 200-day moving average price is $97.99.

Transcat (NASDAQ:TRNS) last posted its earnings results on Monday, January 27th. The scientific and technical instruments company reported $0.45 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.07. Transcat had a return on equity of 7.23% and a net margin of 6.22%. During the same period in the prior year, the business earned $0.56 EPS. On average, equities analysts predict that Transcat, Inc. will post 2.3 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Craig D. Cairns bought 1,200 shares of the stock in a transaction that occurred on Friday, January 31st. The shares were bought at an average cost of $77.02 per share, for a total transaction of $92,424.00. Following the completion of the transaction, the director now owns 1,910 shares of the company’s stock, valued at approximately $147,108.20. This trade represents a 169.01 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on TRNS shares. Northland Securities reiterated a “market perform” rating and issued a $85.00 target price (down previously from $110.00) on shares of Transcat in a research note on Wednesday, January 29th. HC Wainwright lowered their price objective on Transcat from $126.00 to $106.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. Craig Hallum lifted their target price on Transcat from $113.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, December 12th. StockNews.com downgraded Transcat from a “hold” rating to a “sell” rating in a report on Wednesday, February 5th. Finally, Oppenheimer cut Transcat from an “outperform” rating to a “market perform” rating in a research report on Wednesday, January 29th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Transcat has a consensus rating of “Hold” and an average target price of $111.50.

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.