Telemark Asset Management LLC Boosts Position in Trimble Inc. (NASDAQ:TRMB)

Key Points

• Telemark Asset Management LLC significantly increased its holdings in Trimble Inc. by 316.7% in the first quarter, now owning 250,000 shares valued at approximately $16.4 million.
• Multiple large investors, including Select Equity Group and Vanguard Group, have also substantially increased their stakes in Trimble, indicating strong institutional interest in the company.
• Analysts have mixed reviews on Trimble, with JPMorgan Chase raising its target price to $96 and others downgrading their ratings, leading to an average target price of $90.50 for the stock.

Telemark Asset Management LLC raised its holdings in Trimble Inc. (NASDAQ:TRMB - Free Report) by 316.7% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 250,000 shares of the scientific and technical instruments company's stock after buying an additional 190,000 shares during the quarter. Trimble comprises 2.1% of Telemark Asset Management LLC's investment portfolio, making the stock its 15th largest position. Telemark Asset Management LLC owned approximately 0.10% of Trimble worth $16,412,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in TRMB. Brighton Jones LLC bought a new stake in shares of Trimble in the 4th quarter worth approximately $211,000. American Century Companies Inc. boosted its position in shares of Trimble by 18.1% during the fourth quarter. American Century Companies Inc. now owns 15,421 shares of the scientific and technical instruments company's stock valued at $1,090,000 after purchasing an additional 2,360 shares in the last quarter. LPL Financial LLC boosted its position in shares of Trimble by 95.2% during the fourth quarter. LPL Financial LLC now owns 44,839 shares of the scientific and technical instruments company's stock valued at $3,168,000 after purchasing an additional 21,871 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its position in shares of Trimble by 17.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 5,595 shares of the scientific and technical instruments company's stock valued at $395,000 after purchasing an additional 841 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Trimble by 32.4% during the fourth quarter. Wellington Management Group LLP now owns 22,360 shares of the scientific and technical instruments company's stock valued at $1,580,000 after purchasing an additional 5,472 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP Mark David Schwartz sold 1,476 shares of the business's stock in a transaction on Thursday, July 3rd. The stock was sold at an average price of $78.00, for a total value of $115,128.00. Following the completion of the transaction, the vice president owned 22,405 shares in the company, valued at $1,747,590. The trade was a 6.18% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Robert G. Painter sold 7,500 shares of the business's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $78.86, for a total value of $591,450.00. Following the completion of the transaction, the chief executive officer owned 114,879 shares of the company's stock, valued at $9,059,357.94. This represents a 6.13% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,047 shares of company stock worth $1,538,152 over the last three months. Company insiders own 0.54% of the company's stock.

Trimble Stock Up 1.5%

NASDAQ:TRMB traded up $1.25 during trading hours on Friday, reaching $83.77. 2,390,747 shares of the company traded hands, compared to its average volume of 1,972,172. The business's 50-day moving average price is $77.93 and its two-hundred day moving average price is $71.50. The stock has a market capitalization of $19.93 billion, a P/E ratio of 72.22, a P/E/G ratio of 3.57 and a beta of 1.69. Trimble Inc. has a 1 year low of $51.03 and a 1 year high of $87.50. The company has a current ratio of 0.94, a quick ratio of 0.72 and a debt-to-equity ratio of 0.25.

Trimble (NASDAQ:TRMB - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $875.70 million during the quarter, compared to analysts' expectations of $835.81 million. Trimble had a return on equity of 10.24% and a net margin of 8.02%. The firm's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.62 earnings per share. Analysts predict that Trimble Inc. will post 2.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

TRMB has been the topic of several research reports. Raymond James Financial restated an "outperform" rating and set a $93.00 price target (up from $85.00) on shares of Trimble in a research report on Thursday. 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. Wall Street Zen upgraded Trimble from a "hold" rating to a "buy" rating in a research report on Saturday. JPMorgan Chase & Co. lifted their price target on Trimble from $95.00 to $96.00 and gave the company an "overweight" rating in a research report on Thursday. Finally, Oppenheimer lifted their price target on Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a research report on Thursday. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, Trimble 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.