Public Sector Pension Investment Board Grows Stock Holdings in Trimble Inc. (NASDAQ:TRMB)

Public Sector Pension Investment Board raised its stake in Trimble Inc. (NASDAQ:TRMB) by 65.6% during the second quarter, HoldingsChannel.com reports. The fund owned 9,384 shares of the scientific and technical instruments company’s stock after purchasing an additional 3,718 shares during the quarter. Public Sector Pension Investment Board’s holdings in Trimble were worth $525,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Frank Rimerman Advisors LLC bought a new stake in Trimble in the 2nd quarter valued at $428,000. Prospector Partners LLC increased its holdings in Trimble by 1.4% in the 2nd quarter. Prospector Partners LLC now owns 353,092 shares of the scientific and technical instruments company’s stock valued at $19,745,000 after acquiring an additional 4,957 shares during the last quarter. ProShare Advisors LLC increased its holdings in Trimble by 4.8% in the 2nd quarter. ProShare Advisors LLC now owns 47,699 shares of the scientific and technical instruments company’s stock valued at $2,667,000 after acquiring an additional 2,201 shares during the last quarter. Profund Advisors LLC increased its holdings in Trimble by 4.6% in the 2nd quarter. Profund Advisors LLC now owns 4,937 shares of the scientific and technical instruments company’s stock valued at $276,000 after acquiring an additional 219 shares during the last quarter. Finally, Ensign Peak Advisors Inc increased its holdings in Trimble by 0.5% in the 2nd quarter. Ensign Peak Advisors Inc now owns 83,535 shares of the scientific and technical instruments company’s stock valued at $4,671,000 after acquiring an additional 400 shares during the last quarter. 93.21% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Trimble Price Performance

Trimble stock opened at $61.59 on Friday. The stock has a market cap of $15.04 billion, a price-to-earnings ratio of 64.16, a price-to-earnings-growth ratio of 2.77 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. The firm has a 50-day moving average of $55.87 and a two-hundred day moving average of $57.31.

Trimble (NASDAQ:TRMB) last released its quarterly earnings data 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. The company had revenue of $870.80 million during the quarter, compared to analysts’ expectations of $862.50 million. Trimble had a net margin of 40.70% and a return on equity of 10.94%. The firm’s quarterly revenue was down 12.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.51 EPS. On average, research analysts forecast that Trimble Inc. will post 2.23 earnings per share 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.