Impax Asset Management Group plc Sells 307,183 Shares of Trimble Inc. (NASDAQ:TRMB)

Impax Asset Management Group plc lowered its holdings in Trimble Inc. (NASDAQ:TRMB - Free Report) by 11.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,268,619 shares of the scientific and technical instruments company's stock after selling 307,183 shares during the period. Impax Asset Management Group plc owned approximately 0.92% of Trimble worth $147,700,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Essex Investment Management Co. LLC boosted its holdings in Trimble by 0.5% in the 4th quarter. Essex Investment Management Co. LLC now owns 28,546 shares of the scientific and technical instruments company's stock valued at $2,017,000 after purchasing an additional 141 shares during the period. Cullen Frost Bankers Inc. lifted its position in Trimble by 0.6% during the fourth quarter. Cullen Frost Bankers Inc. now owns 22,969 shares of the scientific and technical instruments company's stock worth $1,623,000 after purchasing an additional 141 shares during the period. SRS Capital Advisors Inc. lifted its position in Trimble by 12.7% during the fourth quarter. SRS Capital Advisors Inc. now owns 1,322 shares of the scientific and technical instruments company's stock worth $93,000 after purchasing an additional 149 shares during the period. M&T Bank Corp grew its stake in Trimble by 1.6% during the fourth quarter. M&T Bank Corp now owns 10,155 shares of the scientific and technical instruments company's stock worth $717,000 after buying an additional 156 shares in the last quarter. Finally, Huntington National Bank raised its position in shares of Trimble by 10.4% in the 4th quarter. Huntington National Bank now owns 1,768 shares of the scientific and technical instruments company's stock valued at $125,000 after buying an additional 167 shares in the last quarter. Institutional investors own 93.21% of the company's stock.

Wall Street Analysts Forecast Growth

TRMB has been the topic of several analyst reports. Piper Sandler reiterated an "overweight" rating and set a $84.00 price target on shares of Trimble in a research report on Thursday, May 8th. Wall Street Zen downgraded Trimble from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. lifted their price target on Trimble from $84.00 to $88.00 and gave the company an "overweight" rating in a research note on Wednesday, May 14th. One investment 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 stock. According to MarketBeat, Trimble currently has a consensus rating of "Buy" and a consensus target price of $88.43.

Trimble Price Performance

TRMB stock traded up $0.96 during trading on Friday, reaching $78.82. 805,580 shares of the company were exchanged, compared to its average volume of 1,393,862. The company has a 50-day moving average of $70.97 and a two-hundred day moving average of $69.74. The company has a market capitalization of $18.81 billion, a price-to-earnings ratio of 12.86, a P/E/G ratio of 3.36 and a beta of 1.67. Trimble Inc. has a twelve month low of $48.65 and a twelve month high of $78.99. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.72.

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

Insider Transactions at Trimble

In other news, Director Kaigham Gabriel sold 6,511 shares of Trimble stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $71.69, for a total transaction of $466,773.59. Following the transaction, the director owned 17,939 shares in the company, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.54% of the company's stock.

Trimble Company 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.