Texas Permanent School Fund Corp Sells 12,090 Shares of Trimble Inc. (NASDAQ:TRMB)

Texas Permanent School Fund Corp decreased its stake in Trimble Inc. (NASDAQ:TRMB) by 23.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,333 shares of the scientific and technical instruments company’s stock after selling 12,090 shares during the period. Texas Permanent School Fund Corp’s holdings in Trimble were worth $2,200,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in TRMB. Prudential PLC raised its position in Trimble by 17.2% during the second quarter. Prudential PLC now owns 81,432 shares of the scientific and technical instruments company’s stock valued at $4,554,000 after purchasing an additional 11,977 shares in the last quarter. Ashton Thomas Private Wealth LLC purchased a new position in shares of Trimble during the 2nd quarter valued at about $48,000. Quest Partners LLC lifted its position in Trimble by 182,222.2% in the 2nd quarter. Quest Partners LLC now owns 32,818 shares of the scientific and technical instruments company’s stock worth $1,835,000 after buying an additional 32,800 shares during the last quarter. Caprock Group LLC boosted its stake in Trimble by 24.0% in the second quarter. Caprock Group LLC now owns 15,608 shares of the scientific and technical instruments company’s stock worth $873,000 after buying an additional 3,024 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new position in Trimble during the second quarter valued at approximately $261,000. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Trimble Stock Down 0.2 %

NASDAQ TRMB opened at $58.31 on Wednesday. The business’s 50-day moving average is $55.13 and its 200 day moving average is $57.50. The stock has a market capitalization of $14.24 billion, a PE ratio of 60.74, a PEG ratio of 2.50 and a beta of 1.48. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.99 and a quick ratio of 0.88. Trimble Inc. has a 1 year low of $39.57 and a 1 year high of $65.55.

Trimble (NASDAQ:TRMB) last posted its earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.04. Trimble had a return on equity of 10.94% and a net margin of 40.70%. The firm had revenue of $870.80 million for the quarter, compared to analysts’ expectations of $862.50 million. During the same period in the previous year, the firm earned $0.51 earnings per share. The business’s revenue was down 12.4% compared to the same quarter last year. Sell-side analysts forecast that Trimble Inc. will post 2.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on TRMB. JPMorgan Chase & Co. lowered their price objective on shares of Trimble from $65.00 to $58.00 and set a “neutral” rating for the company in a report on Wednesday, August 7th. Oppenheimer restated an “outperform” rating and set a $72.00 price target on shares of Trimble in a research report on Wednesday, August 7th. StockNews.com upgraded Trimble from a “hold” rating to a “buy” rating in a report on Thursday, September 12th. Piper Sandler restated an “overweight” rating and set a $73.00 target price on shares of Trimble in a report on Monday, August 19th. Finally, Robert W. Baird lifted their price target on Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $65.33.

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.