Quarry LP Boosts Stock Holdings in Trimble Inc. $TRMB

Key Points

• Quarry LP increased its holdings in Trimble Inc. by 1,215.4%, acquiring 9,629 shares valued at $632,000 in the first quarter of the year.
• Trimble reported an earnings per share of $0.71 for the last quarter, surpassing estimates of $0.63, with revenues reaching $875.7 million.
• Multiple institutional investors have raised their stakes in Trimble, with a combined ownership of 93.21% of the stock by hedge funds and other investors.

Quarry LP grew its position in Trimble Inc. (NASDAQ:TRMB - Free Report) by 1,215.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,629 shares of the scientific and technical instruments company's stock after acquiring an additional 8,897 shares during the quarter. Quarry LP's holdings in Trimble were worth $632,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in TRMB. Central Pacific Bank Trust Division grew its stake in Trimble by 174.9% in the 1st quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company's stock worth $37,000 after acquiring an additional 355 shares during the period. Putney Financial Group LLC acquired a new position in Trimble during the 4th quarter worth $51,000. State of Wyoming acquired a new stake in Trimble during the first quarter valued at approximately $58,000. Farther Finance Advisors LLC boosted its holdings in shares of Trimble by 153.5% in the 1st quarter. Farther Finance Advisors LLC now owns 976 shares of the scientific and technical instruments company's stock valued at $64,000 after buying an additional 591 shares during the period. Finally, Friedenthal Financial increased its position in Trimble by 64.7% in the first quarter. Friedenthal Financial now owns 1,153 shares of the scientific and technical instruments company's stock worth $76,000 after buying an additional 453 shares during the period. Institutional investors and hedge funds own 93.21% of the company's stock.

Trimble Stock Performance

Trimble stock traded up $0.03 during mid-day trading on Wednesday, hitting $78.60. 1,513,869 shares of the company's stock traded hands, compared to its average volume of 1,665,273. The stock has a market cap of $18.70 billion, a price-to-earnings ratio of 34.25, a P/E/G ratio of 3.32 and a beta of 1.66. 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 fifty-two week low of $52.91 and a fifty-two week high of $87.50. The firm has a 50 day simple moving average of $81.25 and a two-hundred day simple moving average of $72.32.

Trimble (NASDAQ:TRMB - Get Free Report) last issued its earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.63 by $0.08. The firm 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%.The business's quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.62 earnings per share. On average, research analysts expect that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Piper Sandler reaffirmed an "overweight" rating and set a $84.00 price target on shares of Trimble in a research note on Thursday, May 8th. Oppenheimer boosted their price target on shares of Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. boosted 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. Raymond James Financial restated an "outperform" rating and issued a $93.00 price objective (up previously from $85.00) on shares of Trimble in a research note on Thursday, August 7th. Finally, Wall Street Zen raised shares of Trimble from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. One research analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $90.50.

Insider Activity at Trimble

In other Trimble news, Director James Calvin Dalton sold 609 shares of the stock in a transaction dated Thursday, August 28th. The shares were sold at an average price of $82.41, for a total transaction of $50,187.69. Following the completion of the transaction, the director owned 13,809 shares in the company, valued at $1,137,999.69. This trade represents a 4.22% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Mark David Schwartz sold 1,404 shares of Trimble stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $80.00, for a total value of $112,320.00. Following the sale, the vice president directly owned 21,001 shares of the company's stock, valued at $1,680,080. This represents a 6.27% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 222,992 shares of company stock worth $18,579,506. 0.54% of the stock is currently owned by corporate insiders.

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.