Jackson Square Capital LLC Takes $5.19 Million Position in Trimble Inc. $TRMB

Key Points

• Jackson Square Capital LLC acquired a new position in Trimble Inc. by purchasing 68,259 shares valued at approximately $5,186,000, making it their 27th largest holding.
• Several large investors, including Sivia Capital Partners LLC and Procyon Advisors LLC, have also recently increased their stakes in Trimble, showing growing institutional interest in the company.
• Analysts are optimistic, with Trimble receiving upgrades to "buy" ratings and price target increases from multiple firms, resulting in a consensus price target of $90.50.

Jackson Square Capital LLC bought a new stake in Trimble Inc. (NASDAQ:TRMB - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 68,259 shares of the scientific and technical instruments company's stock, valued at approximately $5,186,000. Trimble comprises approximately 1.2% of Jackson Square Capital LLC's holdings, making the stock its 27th biggest holding.

Other large investors also recently bought and sold shares of the company. Brighton Jones LLC purchased a new stake in Trimble during the fourth quarter worth about $211,000. Cetera Investment Advisers increased its stake in Trimble by 8.5% during the fourth quarter. Cetera Investment Advisers now owns 14,290 shares of the scientific and technical instruments company's stock worth $1,010,000 after purchasing an additional 1,119 shares during the period. Nomura Holdings Inc. purchased a new stake in Trimble during the fourth quarter worth about $568,000. Royal Bank of Canada increased its stake in Trimble by 67.3% during the fourth quarter. Royal Bank of Canada now owns 344,735 shares of the scientific and technical instruments company's stock worth $24,358,000 after purchasing an additional 138,689 shares during the period. Finally, Twinbeech Capital LP purchased a new stake in Trimble during the fourth quarter worth about $222,000. Institutional investors and hedge funds own 93.21% of the company's stock.

Insider Transactions at Trimble

In related news, CEO Robert G. Painter sold 115,781 shares of the firm's stock in a transaction dated 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 sale, the chief executive officer directly 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James Calvin Dalton sold 609 shares of the firm's stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $82.41, for a total value of $50,187.69. Following the sale, the director owned 13,809 shares in the company, valued at approximately $1,137,999.69. The trade was a 4.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 222,992 shares of company stock valued at $18,579,506. 0.54% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

TRMB has been the topic of a number of recent research reports. Raymond James Financial reiterated an "outperform" rating and set a $93.00 price target (up from $85.00) on shares of Trimble in a research note on Thursday, August 7th. JPMorgan Chase & Co. upped their target price on shares of Trimble from $96.00 to $98.00 and gave the stock an "overweight" rating in a research note on Friday. Oppenheimer upped their target price on shares of Trimble from $88.00 to $94.00 and gave the stock an "outperform" rating in a research note on Thursday, August 7th. Finally, Wall Street Zen upgraded shares of Trimble from a "hold" rating to a "buy" rating in a research note on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating and seven have issued a Buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $90.75.

Trimble Trading Up 1.4%

NASDAQ:TRMB traded up $1.12 during mid-day trading on Friday, reaching $82.78. The company's stock had a trading volume of 2,726,034 shares, compared to its average volume of 1,305,062. The company's fifty day simple moving average is $82.03 and its two-hundred day simple moving average is $73.13. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.81. Trimble Inc. has a twelve month low of $52.91 and a twelve month high of $87.50. The stock has a market cap of $19.70 billion, a P/E ratio of 71.36, a P/E/G ratio of 3.40 and a beta of 1.66.

Trimble (NASDAQ:TRMB - Get Free Report) last released 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. The business had revenue of $875.70 million for the quarter, compared to analyst estimates of $835.81 million. Trimble had a return on equity of 10.24% and a net margin of 8.02%.The company's revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.62 EPS. On average, equities analysts predict that Trimble Inc. will post 2.37 EPS for the current year.

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.