Sandler Capital Management Sells 16,131 Shares of Trimble Inc. $TRMB

Key Points

• Sandler Capital Management reduced its stake in Trimble Inc. by 15.2%, selling 16,131 shares and now holding a total of 90,045 shares which represents about 1.5% of its portfolio.
• Several hedge funds have increased their stakes in Trimble, with Nuveen LLC investing $122 million and Assenagon Asset Management raising its holdings by 338.8% in the first quarter.
• Trimble reported $0.71 EPS for the latest quarter, exceeding estimates, and had a revenue of $875.7 million, indicating a 0.6% year-over-year increase.

Sandler Capital Management lowered its holdings in Trimble Inc. (NASDAQ:TRMB - Free Report) by 15.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,045 shares of the scientific and technical instruments company's stock after selling 16,131 shares during the period. Trimble comprises 1.5% of Sandler Capital Management's holdings, making the stock its 15th biggest holding. Sandler Capital Management's holdings in Trimble were worth $5,911,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in TRMB. OneDigital Investment Advisors LLC boosted its holdings in shares of Trimble by 30.1% during the first quarter. OneDigital Investment Advisors LLC now owns 4,077 shares of the scientific and technical instruments company's stock worth $268,000 after purchasing an additional 943 shares during the period. DAVENPORT & Co LLC boosted its holdings in shares of Trimble by 6.0% during the first quarter. DAVENPORT & Co LLC now owns 7,956 shares of the scientific and technical instruments company's stock worth $522,000 after purchasing an additional 452 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Trimble by 7.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 35,876 shares of the scientific and technical instruments company's stock worth $2,355,000 after purchasing an additional 2,397 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Trimble by 10.9% during the first quarter. Allspring Global Investments Holdings LLC now owns 42,719 shares of the scientific and technical instruments company's stock worth $2,793,000 after purchasing an additional 4,185 shares during the period. Finally, GAMMA Investing LLC boosted its holdings in shares of Trimble by 25.1% during the first quarter. GAMMA Investing LLC now owns 5,275 shares of the scientific and technical instruments company's stock worth $346,000 after purchasing an additional 1,059 shares during the period. Institutional investors and hedge funds own 93.21% of the company's stock.

Trimble Stock Down 1.5%

NASDAQ TRMB traded down $1.23 during trading on Tuesday, reaching $80.06. The company's stock had a trading volume of 1,086,582 shares, compared to its average volume of 1,430,124. 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 capitalization of $19.05 billion, a PE ratio of 69.02, a PEG ratio of 3.34 and a beta of 1.66. The business has a 50-day moving average price of $81.71 and a 200-day moving average price of $72.53. 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 posted its earnings results on Wednesday, August 6th. The scientific and technical instruments company reported $0.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.63 by $0.08. Trimble had a net margin of 8.02% and a return on equity of 10.24%. The firm had revenue of $875.70 million during the quarter, compared to analysts' expectations of $835.81 million. During the same period in the previous year, the company earned $0.62 earnings per share. The company's revenue was up .6% compared to the same quarter last year. On average, research analysts forecast that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Mark David Schwartz sold 1,404 shares of the business's 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 completion of the sale, the vice president directly owned 21,001 shares in the company, valued at approximately $1,680,080. The trade was a 6.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Robert G. Painter sold 115,781 shares of the business's stock in a transaction on 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 completion of the sale, the chief executive officer owned 114,879 shares of the company's stock, valued at $9,515,427.57. The trade was a 50.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 222,992 shares of company stock valued at $18,579,506 over the last three months. Corporate insiders own 0.54% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on TRMB shares. Wall Street Zen upgraded shares of Trimble from a "hold" rating to a "buy" rating in a report on Saturday, August 9th. Raymond James Financial restated an "outperform" rating and set a $93.00 price target (up from $85.00) on shares of Trimble in a report on Thursday, August 7th. JPMorgan Chase & Co. raised their price target on shares of Trimble from $95.00 to $96.00 and gave the stock an "overweight" rating in a report on Thursday, August 7th. Finally, Oppenheimer raised their price target on shares of Trimble from $88.00 to $94.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. One analyst has rated the stock with a Strong Buy rating and seven have assigned a Buy rating to the stock. According to data from MarketBeat, Trimble has an average rating of "Buy" and a consensus price target 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.