Avantax Advisory Services Inc. Makes New $283,000 Investment in Trimble Inc. (NASDAQ:TRMB)

Key Points

• Avantax Advisory Services Inc. acquired 4,306 shares of Trimble Inc. valued at approximately $283,000, during the first quarter, indicating institutional interest in the company.
• Trimble reported $0.71 EPS for the last quarter, surpassing the consensus estimate of $0.63, and achieved revenue of $875.70 million, exceeding expectations.
• Analysts have a positive outlook on Trimble, with multiple firms raising their price targets and maintaining ratings from "buy" to "overweight", setting a consensus target of $90.50.

Avantax Advisory Services Inc. purchased a new stake in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 4,306 shares of the scientific and technical instruments company's stock, valued at approximately $283,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Machina Capital S.A.S. purchased a new stake in Trimble in the first quarter worth $627,000. AE Wealth Management LLC purchased a new stake in Trimble in the first quarter worth $769,000. Wakefield Asset Management LLLP purchased a new stake in Trimble in the first quarter worth $219,000. Venturi Wealth Management LLC increased its stake in Trimble by 128.9% in the first quarter. Venturi Wealth Management LLC now owns 3,223 shares of the scientific and technical instruments company's stock worth $212,000 after purchasing an additional 1,815 shares during the period. Finally, Oak Thistle LLC increased its stake in Trimble by 301.6% in the first quarter. Oak Thistle LLC now owns 23,051 shares of the scientific and technical instruments company's stock worth $1,513,000 after purchasing an additional 17,311 shares during the period. Hedge funds and other institutional investors own 93.21% of the company's stock.

Trimble Price Performance

Shares of Trimble stock traded up $1.25 on Friday, reaching $83.77. The company's stock had a trading volume of 2,390,747 shares, compared to its average volume of 2,031,355. The company has a market capitalization of $19.93 billion, a P/E ratio of 72.22, a PEG ratio of 3.55 and a beta of 1.69. Trimble Inc. has a 52-week low of $51.03 and a 52-week high of $87.50. The stock has a 50-day moving average price of $77.93 and a 200-day moving average price of $71.46. The company has a quick ratio of 0.81, a current ratio of 0.94 and a debt-to-equity ratio of 0.25.

Trimble (NASDAQ:TRMB - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 EPS for the quarter, beating analysts' consensus estimates of $0.63 by $0.08. The business had revenue of $875.70 million during the quarter, compared to analysts' expectations of $835.81 million. Trimble had a return on equity of 10.24% and a net margin of 8.02%. The business's revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.62 earnings per share. Analysts expect that Trimble Inc. will post 2.37 EPS for the current year.

Wall Street Analysts Forecast Growth

TRMB has been the topic of a number of recent analyst reports. Wall Street Zen upgraded Trimble from a "hold" rating to a "buy" rating in a research note on Saturday. Oppenheimer increased their price target on Trimble from $88.00 to $94.00 and gave the stock an "outperform" rating in a research report on Thursday. Raymond James Financial reissued an "outperform" rating and set a $93.00 price target (up previously from $85.00) on shares of Trimble in a research report on Thursday. Piper Sandler reissued an "overweight" rating and set a $84.00 price target on shares of Trimble in a research report on Thursday, May 8th. Finally, JPMorgan Chase & Co. increased their price target on Trimble from $95.00 to $96.00 and gave the stock an "overweight" rating in a research report on Thursday. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus target price of $90.50.

Insiders Place Their Bets

In other news, Director Kaigham Gabriel sold 6,511 shares of the business's stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $71.69, for a total value of $466,773.59. Following the completion of the sale, the director directly owned 17,939 shares in the company, valued at $1,286,046.91. The trade was a 26.63% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Mark David Schwartz sold 1,404 shares of Trimble stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $80.00, for a total value of $112,320.00. Following the completion of the sale, the vice president directly owned 21,001 shares in the company, valued at $1,680,080. This represents a 6.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,047 shares of company stock valued at $1,538,152 over the last ninety days. 0.54% of the stock is owned by corporate insiders.

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.