Candriam S.C.A. Has $57.23 Million Stake in Trimble Inc. $TRMB

Key Points

• Candriam S.C.A. reduced its holdings in Trimble Inc. by 2.7% in the first quarter, owning approximately 871,661 shares valued at $57.23 million.
• Analysts have given Trimble a largely positive outlook, with several raising their price targets and the company receiving an average rating of "Buy".
• Insider selling was notable, with CEO Robert G. Painter selling over 115,000 shares, marking a 50.20% decrease in his ownership.

Candriam S.C.A. lessened its stake in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 2.7% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 871,661 shares of the scientific and technical instruments company's stock after selling 24,426 shares during the period. Candriam S.C.A. owned about 0.37% of Trimble worth $57,225,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Horizon Investments LLC increased its holdings in Trimble by 5.6% in the first quarter. Horizon Investments LLC now owns 3,528 shares of the scientific and technical instruments company's stock worth $232,000 after buying an additional 188 shares during the last quarter. Kovitz Investment Group Partners LLC increased its holdings in Trimble by 0.5% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 37,876 shares of the scientific and technical instruments company's stock worth $2,676,000 after buying an additional 193 shares during the last quarter. Oregon Public Employees Retirement Fund increased its holdings in Trimble by 1.0% in the first quarter. Oregon Public Employees Retirement Fund now owns 21,113 shares of the scientific and technical instruments company's stock worth $1,386,000 after buying an additional 210 shares during the last quarter. Simmons Bank increased its holdings in Trimble by 1.4% in the first quarter. Simmons Bank now owns 15,989 shares of the scientific and technical instruments company's stock worth $1,050,000 after buying an additional 214 shares during the last quarter. Finally, Nisa Investment Advisors LLC boosted its position in Trimble by 0.5% during the first quarter. Nisa Investment Advisors LLC now owns 61,673 shares of the scientific and technical instruments company's stock worth $4,049,000 after purchasing an additional 290 shares during the period. Institutional investors and hedge funds own 93.21% of the company's stock.

Trimble Stock Performance

Shares of TRMB traded up $2.31 during mid-day trading on Friday, hitting $82.58. The company's stock had a trading volume of 880,334 shares, compared to its average volume of 1,975,415. 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 $19.65 billion, a PE ratio of 71.19, a price-to-earnings-growth ratio of 3.39 and a beta of 1.69. The stock's 50-day moving average is $80.02 and its two-hundred day moving average is $71.98.

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 subject of a number of recent analyst reports. 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. Oppenheimer upped their target price on Trimble from $88.00 to $94.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. 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. JPMorgan Chase & Co. upped their target price on Trimble from $95.00 to $96.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Finally, Wall Street Zen raised Trimble from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company. According to MarketBeat, the company has a consensus rating of "Buy" and an average price target of $90.50.

Insider Activity

In related news, VP Mark David Schwartz sold 1,404 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 $112,320.00. Following the completion of the transaction, the vice president directly owned 21,001 shares in the company, valued at approximately $1,680,080. This represents a 6.27% 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, CEO Robert G. Painter sold 115,781 shares of the company's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $82.83, for a total value of $9,590,140.23. Following the completion of the transaction, the chief executive officer owned 114,879 shares of the company's stock, valued at $9,515,427.57. The trade was a 50.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 222,383 shares of company stock valued at $18,529,318. 0.54% of the stock is owned by company 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.