National Bank of Canada FI Has $12.44 Million Holdings in Trimble Inc. (NASDAQ:TRMB)

Key Points

• National Bank of Canada FI has increased its stake in Trimble Inc. by 60.2%, now owning 189,488 shares worth approximately $12.44 million, following the purchase of an additional 71,188 shares.
• Trimble reported earnings of $0.71 per share for the last quarter, exceeding estimates and showing a slight revenue increase to $875.7 million compared to expectations of $835.81 million.
• Institutional investors control 93.21% of Trimble's stock, with several firms, including Kovitz Investment Group and Oregon Public Employees Retirement Fund, increasing their holdings in the company.

National Bank of Canada FI lifted its stake in shares of Trimble Inc. (NASDAQ:TRMB - Free Report) by 60.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 189,488 shares of the scientific and technical instruments company's stock after acquiring an additional 71,188 shares during the quarter. National Bank of Canada FI owned about 0.08% of Trimble worth $12,440,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in TRMB. Select Equity Group L.P. boosted its stake in shares of 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 valued at $717,506,000 after buying an additional 1,857,517 shares during the period. Assenagon Asset Management S.A. raised its holdings in shares of Trimble by 338.8% during the first 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 acquiring an additional 629,960 shares in the last quarter. Vanguard Group Inc. increased its position in Trimble by 2.0% in 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 during the last quarter. Adage Capital Partners GP L.L.C. increased its position in Trimble by 161.1% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 601,122 shares of the scientific and technical instruments company's stock worth $42,475,000 after purchasing an additional 370,900 shares during the last quarter. Finally, Marshall Wace LLP acquired a new position in Trimble in the 4th quarter worth about $24,532,000. Institutional investors and hedge funds own 93.21% of the company's stock.

Trimble Stock Performance

TRMB traded down $1.43 during trading on Friday, hitting $82.24. The stock had a trading volume of 2,024,643 shares, compared to its average volume of 2,065,060. The firm has a market cap of $19.57 billion, a PE ratio of 70.90, a P/E/G ratio of 3.43 and a beta of 1.69. Trimble Inc. has a 12 month low of $52.91 and a 12 month 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 company has a 50 day simple moving average of $79.11 and a 200-day simple moving average of $71.77.

Trimble (NASDAQ:TRMB - Get Free Report) last posted its quarterly earnings data on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.08. Trimble had a net margin of 8.02% and a return on equity of 10.24%. The company had revenue of $875.70 million for the quarter, compared to the consensus estimate of $835.81 million. During the same quarter in the previous year, the firm posted $0.62 EPS. The business's revenue was up .6% compared to the same quarter last year. Analysts expect that Trimble Inc. will post 2.37 EPS for the current year.

Insider Activity at Trimble

In other news, VP Jennifer Allison sold 3,156 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 transaction of $252,480.00. Following the transaction, the vice president owned 2,882 shares in the company, valued at approximately $230,560. The trade was a 52.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Mark David Schwartz sold 1,476 shares of Trimble stock in a transaction dated Thursday, July 3rd. The shares were sold at an average price of $78.00, for a total transaction of $115,128.00. Following the sale, the vice president owned 22,405 shares in the company, valued at approximately $1,747,590. This trade represents a 6.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 228,894 shares of company stock worth $18,996,091. 0.54% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TRMB. Wall Street Zen raised Trimble from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. lifted their price objective on shares of Trimble from $95.00 to $96.00 and gave the company an "overweight" rating in a research note on Thursday, August 7th. Piper Sandler reaffirmed an "overweight" rating and issued a $84.00 price objective on shares of Trimble in a research note on Thursday, May 8th. Raymond James Financial restated an "outperform" rating and set a $93.00 target price (up from $85.00) on shares of Trimble in a report on Thursday, August 7th. Finally, Oppenheimer boosted 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. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Trimble currently has an average rating of "Buy" and a consensus target price of $90.50.

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.