BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Boosts Stake in Trimble Inc. (NASDAQ:TRMB)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp raised its position in shares of Trimble Inc. (NASDAQ:TRMB) by 57.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,777 shares of the scientific and technical instruments company’s stock after buying an additional 17,076 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Trimble were worth $2,616,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in TRMB. Generation Investment Management LLP grew its holdings in shares of Trimble by 89.5% in the fourth quarter. Generation Investment Management LLP now owns 12,270,440 shares of the scientific and technical instruments company’s stock valued at $652,787,000 after purchasing an additional 5,796,030 shares in the last quarter. Victory Capital Management Inc. grew its stake in shares of Trimble by 1,387.6% in the 2nd quarter. Victory Capital Management Inc. now owns 3,847,921 shares of the scientific and technical instruments company’s stock worth $215,176,000 after buying an additional 3,589,249 shares in the last quarter. Lazard Asset Management LLC increased its holdings in shares of Trimble by 25.4% in the 1st quarter. Lazard Asset Management LLC now owns 2,549,535 shares of the scientific and technical instruments company’s stock worth $164,087,000 after buying an additional 516,789 shares during the last quarter. Contour Asset Management LLC raised its position in shares of Trimble by 14.6% during the 4th quarter. Contour Asset Management LLC now owns 3,479,817 shares of the scientific and technical instruments company’s stock valued at $185,126,000 after buying an additional 442,131 shares in the last quarter. Finally, Capital Group Private Client Services Inc. lifted its holdings in shares of Trimble by 77.8% in the 1st quarter. Capital Group Private Client Services Inc. now owns 891,592 shares of the scientific and technical instruments company’s stock valued at $57,383,000 after acquiring an additional 390,171 shares during the last quarter. Institutional investors own 93.21% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on TRMB. Oppenheimer restated an “outperform” rating and set a $72.00 price objective on shares of Trimble in a research report on Wednesday, August 7th. Robert W. Baird raised their price target on Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. boosted their price objective on shares of Trimble from $58.00 to $66.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a research note on Thursday, September 12th. Finally, Piper Sandler reiterated an “overweight” rating and set a $73.00 price target on shares of Trimble in a report on Monday, August 19th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.67.

Trimble Stock Up 1.9 %

NASDAQ:TRMB opened at $61.65 on Friday. The company has a market cap of $15.06 billion, a price-to-earnings ratio of 64.22, a price-to-earnings-growth ratio of 2.63 and a beta of 1.48. Trimble Inc. has a twelve month low of $39.57 and a twelve month high of $65.55. The company has a current ratio of 0.99, a quick ratio of 0.88 and a debt-to-equity ratio of 0.25. The stock has a fifty day simple moving average of $55.57 and a 200-day simple moving average of $57.33.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings data on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. The company had revenue of $870.80 million during the quarter, compared to analyst estimates of $862.50 million. Trimble had a net margin of 40.70% and a return on equity of 10.94%. The firm’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter last year, the business posted $0.51 EPS. Analysts anticipate that Trimble Inc. will post 2.23 EPS for the current year.

Trimble Company Profile

Trimble Inc provides technology solutions that enable professionals and field mobile workers to enhance or transform their work processes worldwide. The company's Buildings and Infrastructure segment offers field and office software for project design and visualization; systems to guide and control construction equipment; software for 3D design and data sharing; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; program management solutions for construction owners; 3D conceptual design and modeling software; building information modeling software; enterprise resource planning, project management, and project collaboration solutions; integrated site layout and measurement systems; cost estimating, scheduling, and project controls solutions; and applications for sub-contractors and trades.