Foresight Group Ltd Liability Partnership Takes $30.34 Million Position in Trimble Inc. $TRMB

Key Points

• Foresight Group Ltd Liability Partnership acquired a new position in Trimble Inc. worth approximately $30.34 million, holding about 462,121 shares, making it their 7th largest holding.
• Trimble received positive ratings from several investment firms, with Raymond James setting a price target of $93.00, and an overall consensus rating of Buy with a price target averaging $90.50.
• Recently released earnings showed Trimble beating estimates with an EPS of $0.71 on revenue of $875.70 million, indicating a year-over-year revenue growth of 0.6%.

Foresight Group Ltd Liability Partnership acquired a new position in Trimble Inc. (NASDAQ:TRMB - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund acquired 462,121 shares of the scientific and technical instruments company's stock, valued at approximately $30,338,000. Trimble makes up about 4.4% of Foresight Group Ltd Liability Partnership's holdings, making the stock its 7th largest holding. Foresight Group Ltd Liability Partnership owned about 0.19% of Trimble as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in TRMB. McAdam LLC raised its position in Trimble by 15.0% during the first quarter. McAdam LLC now owns 8,955 shares of the scientific and technical instruments company's stock worth $588,000 after acquiring an additional 1,167 shares during the last quarter. Flaharty Asset Management LLC purchased a new position in shares of Trimble during the 1st quarter worth approximately $45,000. Ilmarinen Mutual Pension Insurance Co purchased a new position in shares of Trimble during the 1st quarter worth approximately $2,626,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Trimble by 26.1% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 6,978,106 shares of the scientific and technical instruments company's stock worth $458,113,000 after purchasing an additional 1,445,851 shares during the last quarter. Finally, Woodline Partners LP lifted its stake in Trimble by 41.6% in the 1st quarter. Woodline Partners LP now owns 20,766 shares of the scientific and technical instruments company's stock valued at $1,363,000 after buying an additional 6,100 shares in the last quarter. 93.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TRMB has been the subject of several recent research reports. 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, August 7th. Wall Street Zen raised Trimble from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. JPMorgan Chase & Co. increased their price objective on Trimble from $95.00 to $96.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Finally, Oppenheimer boosted their target price on shares of Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a research note on Thursday, August 7th. One investment 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, the company currently has an average rating of "Buy" and a consensus price target of $90.50.

Trimble Price Performance

Shares of NASDAQ:TRMB opened at $80.16 on Thursday. The company has a market cap of $19.08 billion, a P/E ratio of 69.10, a P/E/G ratio of 3.29 and a beta of 1.66. The business has a fifty day simple moving average of $81.76 and a 200-day simple moving average of $72.58. Trimble Inc. has a 52 week low of $52.91 and a 52 week high of $87.50. 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 released its earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.08. The firm had revenue of $875.70 million for the quarter, compared to the consensus estimate of $835.81 million. Trimble had a return on equity of 10.24% and a net margin of 8.02%.The firm's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.62 earnings per share. Equities research analysts forecast that Trimble Inc. will post 2.37 EPS for the current year.

Insider Activity at Trimble

In other Trimble news, VP Jennifer Allison sold 3,156 shares of the stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $80.00, for a total transaction of $252,480.00. Following the transaction, the vice president owned 2,882 shares of the company's stock, valued at $230,560. This trade represents a 52.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Robert G. Painter sold 115,781 shares of Trimble stock in a transaction on Monday, August 11th. The shares were sold at an average price of $82.83, for a total transaction of $9,590,140.23. Following the completion of the transaction, the chief executive officer owned 114,879 shares in the company, valued at approximately $9,515,427.57. This trade represents a 50.20% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 222,992 shares of company stock valued at $18,579,506. Insiders own 0.54% of the company's stock.

About Trimble

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.

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