Trimble Inc. $TRMB Shares Sold by Mirova

Key Points

• Mirova reduced its holdings in Trimble Inc. by 6.8%, now owning approximately 137,248 shares, which represents about 1.6% of its total assets.
• Insider trading activity is noted, with VP Jennifer Allison selling 3,156 shares at $80.00, resulting in a 52.27% decrease in her ownership.
• Brokerages have increasing confidence in Trimble, with JPMorgan raising their price target from $95 to $96 and a consensus rating of "Buy" among analysts.

Mirova lowered its position in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 6.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 137,248 shares of the scientific and technical instruments company's stock after selling 10,041 shares during the quarter. Trimble makes up about 1.6% of Mirova's holdings, making the stock its 13th largest holding. Mirova owned 0.06% of Trimble worth $9,010,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Trimble by 2.0% during the first quarter. Vanguard Group Inc. now owns 30,288,658 shares of the scientific and technical instruments company's stock valued at $1,988,450,000 after acquiring an additional 582,124 shares during the last quarter. Select Equity Group L.P. increased its stake in Trimble by 22.4% during the fourth 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 acquiring an additional 1,857,517 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Trimble by 2.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,532,255 shares of the scientific and technical instruments company's stock worth $390,909,000 after acquiring an additional 134,277 shares during the last quarter. Contour Asset Management LLC increased its stake in Trimble by 4.4% during the fourth quarter. Contour Asset Management LLC now owns 4,681,182 shares of the scientific and technical instruments company's stock worth $330,772,000 after acquiring an additional 197,913 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Trimble by 9.7% during the first quarter. Invesco Ltd. now owns 3,840,550 shares of the scientific and technical instruments company's stock worth $252,132,000 after acquiring an additional 339,750 shares during the last quarter. Institutional investors and hedge funds own 93.21% of the company's stock.

Trimble Stock Up 0.0%

NASDAQ TRMB traded up $0.03 during trading on Thursday, reaching $82.21. 957,225 shares of the company's stock were exchanged, compared to its average volume of 1,579,364. The stock has a market cap of $19.56 billion, a P/E ratio of 70.87, a price-to-earnings-growth ratio of 3.34 and a beta of 1.69. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.81 and a current ratio of 0.94. The company has a 50 day moving average price of $80.60 and a two-hundred day moving average price of $72.14. Trimble Inc. has a 1 year low of $52.91 and a 1 year high of $87.50.

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 (EPS) for the quarter, topping analysts' consensus estimates of $0.63 by $0.08. The company had revenue of $875.70 million during 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%.Trimble's revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the business earned $0.62 EPS. On average, equities research analysts anticipate that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Insider Transactions at Trimble

In other news, VP Jennifer Allison sold 3,156 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 transaction of $252,480.00. Following the sale, the vice president owned 2,882 shares in the company, valued at approximately $230,560. The trade was a 52.27% decrease in their ownership of the stock. 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 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 owned 21,001 shares in the company, valued at $1,680,080. This trade represents a 6.27% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 222,383 shares of company stock worth $18,529,318. Corporate insiders own 0.54% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on TRMB. Raymond James Financial reissued an "outperform" rating and set a $93.00 target price (up previously from $85.00) on shares of Trimble in a research note on Thursday, August 7th. JPMorgan Chase & Co. raised their price target on Trimble from $95.00 to $96.00 and gave the stock an "overweight" rating in a research report on Thursday, August 7th. Oppenheimer raised their price target on Trimble from $88.00 to $94.00 and gave the stock an "outperform" rating in a research report on Thursday, August 7th. Piper Sandler restated an "overweight" rating and set a $84.00 price target on shares of Trimble in a research report on Thursday, May 8th. Finally, Wall Street Zen upgraded Trimble from a "hold" rating to a "buy" rating in a research report 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's stock. According to MarketBeat, the company has a consensus rating of "Buy" and an average target price of $90.50.

Trimble 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.