Federation des caisses Desjardins du Quebec Has $1.87 Million Stake in Trimble Inc. $TRMB

Key Points

• Federation des caisses Desjardins du Quebec significantly increased its stake in Trimble Inc. by 369.9% in the first quarter, owning 28,431 shares valued at approximately $1.87 million.
• Analysts have upgraded Trimble's stock, with ratings including a transition from "hold" to "buy" and a price target increase to as high as $96.00.
• In its latest earnings report, Trimble reported an EPS of $0.71, exceeding analysts' expectations, with revenues also surpassing projections at $875.70 million.

Federation des caisses Desjardins du Quebec increased its stake in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 369.9% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 28,431 shares of the scientific and technical instruments company's stock after acquiring an additional 22,380 shares during the period. Federation des caisses Desjardins du Quebec's holdings in Trimble were worth $1,866,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Central Pacific Bank Trust Division lifted its position in shares of Trimble by 174.9% during 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 purchasing an additional 355 shares in the last quarter. Putney Financial Group LLC purchased a new stake in Trimble during the 4th quarter worth $51,000. State of Wyoming acquired a new position in Trimble in the 1st quarter worth $58,000. Farther Finance Advisors LLC boosted its position in Trimble by 153.5% in the 1st quarter. Farther Finance Advisors LLC now owns 976 shares of the scientific and technical instruments company's stock valued at $64,000 after buying an additional 591 shares during the last quarter. Finally, Friedenthal Financial grew its stake in shares of Trimble by 64.7% during the first quarter. Friedenthal Financial now owns 1,153 shares of the scientific and technical instruments company's stock valued at $76,000 after acquiring an additional 453 shares in the last quarter. Institutional investors and hedge funds own 93.21% of the company's stock.

Analyst Upgrades and Downgrades

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

Trimble Stock Performance

Shares of Trimble stock traded down $1.23 during trading hours on Tuesday, reaching $80.06. The company's stock had a trading volume of 1,086,582 shares, compared to its average volume of 1,430,124. Trimble Inc. has a one year low of $52.91 and a one year high of $87.50. The company's 50 day simple moving average is $81.71 and its 200 day simple moving average is $72.53. 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 stock has a market cap of $19.05 billion, a P/E ratio of 69.02, a price-to-earnings-growth ratio of 3.34 and a beta of 1.66.

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

Insider Activity

In other news, VP Mark David Schwartz sold 1,476 shares of the firm's stock in a transaction dated Thursday, July 3rd. The stock was sold at an average price of $78.00, for a total transaction of $115,128.00. Following the completion of the sale, the vice president directly owned 22,405 shares of the company's stock, valued at $1,747,590. This trade represents a 6.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert G. Painter sold 115,781 shares of the business's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $82.83, for a total transaction of $9,590,140.23. Following the completion of the sale, the chief executive officer directly owned 114,879 shares of the company's stock, valued at $9,515,427.57. This represents a 50.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 222,992 shares of company stock valued at $18,579,506. Corporate 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.