Caliber Wealth Management LLC KS Purchases New Stake in Trimble Inc. (NASDAQ:TRMB)

Key Points

• Caliber Wealth Management LLC KS has purchased 3,400 shares of Trimble Inc., valued at approximately $223,000, indicating growing interest in the stock during the first quarter.
• Trimble Inc. reported earnings of $0.61 per share, exceeding expectations, with total revenue of $840.60 million, although this reflects an 11.8% year-over-year decline.
• Institutional investors currently hold 93.21% of Trimble's stock, highlighting significant institutional confidence in the company.

Caliber Wealth Management LLC KS acquired a new stake in Trimble Inc. (NASDAQ:TRMB - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,400 shares of the scientific and technical instruments company's stock, valued at approximately $223,000.

A number of other large investors have also recently made changes to their positions in the business. Assetmark Inc. lifted its position in shares of Trimble by 13.5% during the first quarter. Assetmark Inc. now owns 6,838 shares of the scientific and technical instruments company's stock valued at $449,000 after purchasing an additional 811 shares in the last quarter. Cetera Investment Advisers increased its holdings in Trimble by 9.8% during the first quarter. Cetera Investment Advisers now owns 15,694 shares of the scientific and technical instruments company's stock worth $1,030,000 after buying an additional 1,404 shares during the last quarter. Avantax Advisory Services Inc. purchased a new stake in Trimble during the first quarter worth about $283,000. Machina Capital S.A.S. purchased a new stake in Trimble during the first quarter worth about $627,000. Finally, AE Wealth Management LLC purchased a new stake in Trimble during the first quarter worth about $769,000. 93.21% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

TRMB has been the subject of a number of research analyst reports. Wall Street Zen downgraded shares of Trimble from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Oppenheimer raised their price objective on shares of Trimble from $81.00 to $88.00 and gave the stock an "outperform" rating in a report on Thursday, July 17th. Piper Sandler reiterated an "overweight" rating and issued a $84.00 target price on shares of Trimble in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Trimble from $88.00 to $95.00 and gave the company an "overweight" rating in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $89.14.

Trimble Price Performance

Trimble stock traded up $0.93 during mid-day trading on Wednesday, hitting $85.62. 472,787 shares of the company traded hands, compared to its average volume of 1,529,540. Trimble Inc. has a one year low of $48.65 and a one year high of $86.42. The stock has a market cap of $20.43 billion, a price-to-earnings ratio of 13.95, a price-to-earnings-growth ratio of 3.62 and a beta of 1.67. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.72 and a current ratio of 0.84. The stock has a fifty day moving average price of $75.92 and a 200-day moving average price of $70.97.

Trimble (NASDAQ:TRMB - Get Free Report) last announced its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.60 by $0.01. Trimble had a net margin of 42.40% and a return on equity of 9.87%. The business had revenue of $840.60 million during the quarter, compared to analyst estimates of $810.45 million. During the same period in the previous year, the business posted $0.64 earnings per share. Trimble's revenue for the quarter was down 11.8% on a year-over-year basis. On average, equities analysts predict that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Insider Activity at Trimble

In other news, VP Mark David Schwartz sold 1,404 shares of the business's stock in a transaction that occurred on Thursday, July 10th. The shares were 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 approximately $1,680,080. The trade was a 6.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $466,773.59. Following the completion of the sale, the director owned 17,939 shares of the company's stock, valued at approximately $1,286,046.91. The trade was a 26.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,047 shares of company stock valued at $1,538,152. Company insiders own 0.54% of the company's stock.

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.