Forsta AP Fonden Has $8.52 Million Stock Position in Trimble Inc. (NASDAQ:TRMB)

Key Points

• Forsta AP Fonden significantly increased its stake in Trimble Inc. by 155.8%, owning 129,700 shares valued at approximately $8.52 million as of the latest SEC filing.
• Trimble's recent quarterly earnings report showed a profit of $0.71 per share, exceeding expectations, with total revenue of $875.7 million.
• Numerous institutional investors have raised their positions in Trimble, with 93.21% of the stock now being owned by institutional investors and hedge funds.

Forsta AP Fonden increased its holdings in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 155.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 129,700 shares of the scientific and technical instruments company's stock after acquiring an additional 79,000 shares during the quarter. Forsta AP Fonden owned about 0.05% of Trimble worth $8,515,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. National Bank of Canada FI grew its holdings in Trimble by 60.2% in the 1st quarter. National Bank of Canada FI now owns 189,488 shares of the scientific and technical instruments company's stock valued at $12,440,000 after buying an additional 71,188 shares in the last quarter. Citigroup Inc. lifted its position in shares of Trimble by 54.1% during the 1st quarter. Citigroup Inc. now owns 296,753 shares of the scientific and technical instruments company's stock worth $19,482,000 after buying an additional 104,201 shares during the last quarter. Telemark Asset Management LLC lifted its position in shares of Trimble by 316.7% during the 1st quarter. Telemark Asset Management LLC now owns 250,000 shares of the scientific and technical instruments company's stock worth $16,412,000 after buying an additional 190,000 shares during the last quarter. AlphaCore Capital LLC acquired a new position in Trimble in the 1st quarter worth about $375,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Trimble by 14.2% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 429,821 shares of the scientific and technical instruments company's stock worth $28,218,000 after purchasing an additional 53,453 shares in the last quarter. 93.21% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Trimble news, Director Kaigham Gabriel sold 6,511 shares of Trimble stock in a transaction dated 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 $1,286,046.91. The trade was a 26.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Mark David Schwartz sold 1,404 shares of Trimble stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $80.00, for a total value of $112,320.00. Following the sale, the vice president directly owned 21,001 shares of the company's stock, valued at approximately $1,680,080. This trade represents a 6.27% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 20,047 shares of company stock worth $1,538,152 over the last three months. Corporate insiders own 0.54% of the company's stock.

Trimble Price Performance

Shares of NASDAQ TRMB opened at $83.77 on Friday. The stock has a market cap of $19.93 billion, a PE ratio of 72.22, a price-to-earnings-growth ratio of 3.57 and a beta of 1.69. Trimble Inc. has a fifty-two week low of $51.03 and a fifty-two week high of $87.50. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.72 and a current ratio of 0.94. The stock has a fifty day moving average of $77.93 and a 200-day moving average of $71.50.

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

Analyst Ratings Changes

TRMB has been the subject of several recent research reports. Wall Street Zen raised Trimble from a "hold" rating to a "buy" rating in a research note on Saturday. Raymond James Financial reiterated an "outperform" rating and issued a $93.00 price target (up previously from $85.00) on shares of Trimble in a report on Thursday. Piper Sandler reiterated an "overweight" rating and issued a $84.00 price target on shares of Trimble in a report on Thursday, May 8th. JPMorgan Chase & Co. raised their target price on Trimble from $95.00 to $96.00 and gave the company an "overweight" rating in a report on Thursday. Finally, Oppenheimer lifted their price target on Trimble from $88.00 to $94.00 and gave the stock an "outperform" rating in a report on Thursday. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Trimble currently has a consensus rating of "Buy" and an average price target of $90.50.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.