Trimble Inc. (NASDAQ:TRMB) is Prospector Partners LLC’s 10th Largest Position

Prospector Partners LLC raised its stake in Trimble Inc. (NASDAQ:TRMB) by 1.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 353,092 shares of the scientific and technical instruments company’s stock after purchasing an additional 4,957 shares during the period. Trimble accounts for about 2.2% of Prospector Partners LLC’s holdings, making the stock its 10th biggest position. Prospector Partners LLC owned 0.14% of Trimble worth $19,745,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Tobam purchased a new stake in shares of Trimble in the 1st quarter valued at about $35,000. GPS Wealth Strategies Group LLC lifted its stake in Trimble by 303.2% in the second quarter. GPS Wealth Strategies Group LLC now owns 637 shares of the scientific and technical instruments company’s stock valued at $36,000 after buying an additional 479 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of Trimble by 96.0% in the second quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock valued at $36,000 after acquiring an additional 313 shares during the period. Ashton Thomas Private Wealth LLC purchased a new position in shares of Trimble during the second quarter worth approximately $48,000. Finally, Principal Securities Inc. acquired a new position in shares of Trimble in the 4th quarter valued at $52,000. Institutional investors and hedge funds own 93.21% of the company’s stock.

Trimble Price Performance

Shares of NASDAQ:TRMB opened at $58.57 on Friday. Trimble Inc. has a 52 week low of $39.57 and a 52 week high of $65.55. The company has a 50-day moving average price of $55.34 and a 200 day moving average price of $57.44. The company has a market cap of $14.30 billion, a P/E ratio of 61.01, a PEG ratio of 2.63 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 (NASDAQ:TRMB) last posted its quarterly earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 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 business had revenue of $870.80 million during the quarter, compared to analysts’ expectations of $862.50 million. During the same period last year, the firm earned $0.51 EPS. The company’s quarterly revenue was down 12.4% compared to the same quarter last year. Research analysts predict that Trimble Inc. will post 2.22 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

About Trimble

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.