Allstate Corp Has $865,000 Stake in Trimble Inc. $TRMB

Key Points

• Allstate Corp increased its holdings in Trimble Inc. by 83.6% during Q1, owning 13,172 shares valued at approximately $865,000 by the end of the quarter.
• Several other institutional investors, including Kestra Advisory Services and 1832 Asset Management, also raised their positions in Trimble, contributing to institutional investors owning 93.21% of the company's stock.
• Trimble reported a Q2 EPS of $0.71, surpassing analyst estimates, with revenue for the quarter reaching $875.70 million, indicating a growth compared to the same period last year.

Allstate Corp grew its position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 83.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,172 shares of the scientific and technical instruments company's stock after buying an additional 5,996 shares during the quarter. Allstate Corp's holdings in Trimble were worth $865,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Central Pacific Bank Trust Division increased its holdings in Trimble by 174.9% in the first quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company's stock worth $37,000 after buying an additional 355 shares during the last quarter. Putney Financial Group LLC acquired a new position in Trimble in the fourth quarter worth approximately $51,000. Quarry LP increased its holdings in Trimble by 121.8% in the fourth quarter. Quarry LP now owns 732 shares of the scientific and technical instruments company's stock worth $52,000 after buying an additional 402 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in Trimble by 153.5% in the first quarter. Farther Finance Advisors LLC now owns 976 shares of the scientific and technical instruments company's stock worth $64,000 after buying an additional 591 shares during the last quarter. Finally, Friedenthal Financial increased its holdings in Trimble by 64.7% in the first quarter. Friedenthal Financial now owns 1,153 shares of the scientific and technical instruments company's stock worth $76,000 after buying an additional 453 shares during the last quarter. Institutional investors own 93.21% of the company's stock.

Trimble Stock Performance

Shares of TRMB traded up $0.03 during mid-day trading on Thursday, hitting $82.21. The company's stock had a trading volume of 957,261 shares, compared to its average volume of 1,579,364. Trimble Inc. has a one year low of $52.91 and a one year high of $87.50. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.81 and a current ratio of 0.94. The firm has a market capitalization of $19.56 billion, a PE ratio of 70.87, a price-to-earnings-growth ratio of 3.34 and a beta of 1.69. The stock's 50-day moving average is $80.60 and its two-hundred day moving average is $72.14.

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 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.08. Trimble had a return on equity of 10.24% and a net margin of 8.02%.The company had revenue of $875.70 million during the quarter, compared to analysts' expectations of $835.81 million. During the same period in the prior year, the business earned $0.62 earnings per share. Trimble's revenue for the quarter was up .6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Trimble Inc. will post 2.37 EPS for the current year.

Wall Street Analyst Weigh In

TRMB has been the topic of a number of research reports. JPMorgan Chase & Co. increased their price objective on Trimble from $95.00 to $96.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Oppenheimer increased their price objective on Trimble from $88.00 to $94.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. Wall Street Zen upgraded Trimble from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Piper Sandler reaffirmed an "overweight" rating and set a $84.00 target price on shares of Trimble in a research report on Thursday, May 8th. Finally, Raymond James Financial reaffirmed an "outperform" rating and set a $93.00 target price (up previously from $85.00) on shares of Trimble in a research report on Thursday, August 7th. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Buy" and a consensus price target of $90.50.

Insider Activity at Trimble

In related news, VP Jennifer Allison sold 3,156 shares of the company's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $80.00, for a total value of $252,480.00. Following the completion of the transaction, the vice president directly owned 2,882 shares in the company, valued at approximately $230,560. This represents a 52.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Mark David Schwartz sold 1,476 shares of the company's stock in a transaction on Thursday, July 3rd. The shares were sold at an average price of $78.00, for a total value of $115,128.00. Following the completion of the transaction, the vice president owned 22,405 shares of the company's stock, valued at $1,747,590. The trade was a 6.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 222,383 shares of company stock worth $18,529,318. 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.