Kestra Advisory Services LLC Boosts Stock Position in Trimble Inc. $TRMB

Key Points

• Kestra Advisory Services LLC increased its stake in Trimble Inc. by 9.2% during the first quarter, acquiring a total of 44,715 shares valued at approximately $2.94 million.
• Multiple institutional investors, including 1832 Asset Management and EntryPoint Capital LLC, also raised their holdings in Trimble, reflecting growing institutional interest in the company's stock.
• Trimble reported earnings of $0.71 per share for the last quarter, exceeding analysts' expectations, with revenue of $875.7 million, up 0.6% year-over-year.

Kestra Advisory Services LLC grew its position in Trimble Inc. (NASDAQ:TRMB - Free Report) by 9.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,715 shares of the scientific and technical instruments company's stock after buying an additional 3,781 shares during the quarter. Kestra Advisory Services LLC's holdings in Trimble were worth $2,936,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also modified their holdings of TRMB. Nuveen LLC acquired a new position in Trimble during the 1st quarter worth $122,070,000. Select Equity Group L.P. grew its stake in Trimble by 22.4% during the 4th quarter. Select Equity Group L.P. now owns 10,154,341 shares of the scientific and technical instruments company's stock worth $717,506,000 after purchasing an additional 1,857,517 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Trimble by 338.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 815,909 shares of the scientific and technical instruments company's stock worth $53,564,000 after purchasing an additional 629,960 shares in the last quarter. Vanguard Group Inc. grew its stake in Trimble by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 30,288,658 shares of the scientific and technical instruments company's stock worth $1,988,450,000 after purchasing an additional 582,124 shares in the last quarter. Finally, Raymond James Financial Inc. grew its stake in Trimble by 296.5% during the 1st quarter. Raymond James Financial Inc. now owns 741,514 shares of the scientific and technical instruments company's stock worth $48,680,000 after purchasing an additional 554,514 shares in the last quarter. 93.21% of the stock is owned by institutional investors and hedge funds.

Trimble Stock Performance

Shares of Trimble stock traded down $1.39 on Friday, hitting $80.82. The stock had a trading volume of 1,210,105 shares, compared to its average volume of 1,806,406. Trimble Inc. has a 52-week low of $52.91 and a 52-week high of $87.50. The company has a current ratio of 0.94, a quick ratio of 0.81 and a debt-to-equity ratio of 0.25. The stock has a market cap of $19.23 billion, a price-to-earnings ratio of 69.67, a P/E/G ratio of 3.32 and a beta of 1.69. The company's 50 day moving average price is $80.99 and its 200 day moving average price is $72.24.

Trimble (NASDAQ:TRMB - Get Free Report) last posted its 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. Trimble had a return on equity of 10.24% and a net margin of 8.02%.The business had revenue of $875.70 million during the quarter, compared to the consensus estimate of $835.81 million. During the same period in the previous year, the business earned $0.62 EPS. The business's quarterly revenue was up .6% on a year-over-year basis. On average, research analysts anticipate that Trimble Inc. will post 2.37 EPS for the current year.

Analyst Upgrades and Downgrades

TRMB has been the subject of several analyst reports. Raymond James Financial reissued an "outperform" rating and set a $93.00 target price (up from $85.00) on shares of Trimble in a research note on Thursday, August 7th. Piper Sandler reaffirmed an "overweight" rating and set a $84.00 price objective on shares of Trimble in a research report on Thursday, May 8th. Oppenheimer upped their price objective on Trimble from $88.00 to $94.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. upped their price objective on Trimble from $95.00 to $96.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Finally, Wall Street Zen raised Trimble from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. One 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 stock currently has a consensus rating of "Buy" and an average price target of $90.50.

Insider Activity

In other news, CEO Robert G. Painter sold 115,781 shares of the business's stock in a transaction dated Monday, August 11th. The stock was sold at an average price of $82.83, for a total value 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 approximately $9,515,427.57. The trade was a 50.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Mark David Schwartz sold 1,404 shares of the business's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $80.00, for a total value of $112,320.00. Following the completion of the sale, the vice president directly owned 21,001 shares of the company's stock, valued at $1,680,080. The trade was a 6.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 222,383 shares of company stock valued at $18,529,318. 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.