MBB Public Markets I LLC Invests $1.01 Million in Trimble Inc. (NASDAQ:TRMB)

MBB Public Markets I LLC acquired a new position in shares of Trimble Inc. (NASDAQ:TRMB) in the second quarter, HoldingsChannel.com reports. The firm acquired 18,045 shares of the scientific and technical instruments company’s stock, valued at approximately $1,009,000.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Trimble by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 29,213,613 shares of the scientific and technical instruments company’s stock worth $1,554,164,000 after buying an additional 273,863 shares during the last quarter. Generation Investment Management LLP raised its holdings in shares of Trimble by 89.5% in the 4th 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 during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in shares of Trimble by 2.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,315,941 shares of the scientific and technical instruments company’s stock valued at $342,134,000 after purchasing an additional 126,472 shares during the period. Victory Capital Management Inc. raised its holdings 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 valued at $215,176,000 after purchasing an additional 3,589,249 shares during the period. Finally, Thrivent Financial for Lutherans raised its holdings in shares of Trimble by 7.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 3,647,641 shares of the scientific and technical instruments company’s stock valued at $203,976,000 after purchasing an additional 239,673 shares during the period. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $73.00 target price on shares of Trimble in a report on Monday, August 19th. StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a report on Thursday, September 12th. JPMorgan Chase & Co. upped their target price on shares of Trimble from $58.00 to $66.00 and gave the company a “neutral” rating in a report on Thursday, September 19th. Robert W. Baird upped their target price on shares of Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $72.00 target price on shares of Trimble in a report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $66.67.

Trimble Stock Up 0.7 %

Trimble stock opened at $62.09 on Tuesday. The stock has a market cap of $15.16 billion, a P/E ratio of 64.68, a P/E/G ratio of 2.77 and a beta of 1.48. The company has a quick ratio of 0.88, a current ratio of 0.99 and a debt-to-equity ratio of 0.25. Trimble Inc. has a twelve month low of $39.57 and a twelve month high of $65.55. The company’s 50-day moving average price is $55.66 and its two-hundred day moving average price is $57.29.

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

Trimble 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.