TimesSquare Capital Management LLC Has $49.10 Million Stock Position in Trimble Inc. (NASDAQ:TRMB)

TimesSquare Capital Management LLC raised its stake in Trimble Inc. (NASDAQ:TRMB - Free Report) by 5.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 747,885 shares of the scientific and technical instruments company's stock after acquiring an additional 39,685 shares during the quarter. TimesSquare Capital Management LLC owned approximately 0.31% of Trimble worth $49,099,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. OneDigital Investment Advisors LLC grew its position in 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 valued at $268,000 after acquiring an additional 943 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Trimble by 5.0% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 376,368 shares of the scientific and technical instruments company's stock worth $26,560,000 after buying an additional 17,785 shares during the period. DAVENPORT & Co LLC boosted its position in shares of Trimble by 6.0% in the first quarter. DAVENPORT & Co LLC now owns 7,956 shares of the scientific and technical instruments company's stock worth $522,000 after buying an additional 452 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Trimble by 7.2% in 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 buying an additional 2,397 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in Trimble by 32.4% in 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 during the last quarter. 93.21% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Trimble news, CEO Robert G. Painter sold 7,500 shares of the firm's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $78.86, for a total transaction of $591,450.00. Following the transaction, the chief executive officer directly owned 114,879 shares in the company, valued at $9,059,357.94. This trade represents a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jennifer Allison sold 3,156 shares of the firm's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $80.00, for a total value of $252,480.00. Following the transaction, the vice president owned 2,882 shares in the company, valued at approximately $230,560. This trade represents a 52.27% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,047 shares of company stock valued at $1,538,152 in the last 90 days. Insiders own 0.54% of the company's stock.

Analyst Ratings Changes

A number of research analysts recently commented on TRMB shares. Wall Street Zen downgraded Trimble from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Piper Sandler reissued an "overweight" rating and issued a $84.00 price target on shares of Trimble in a report on Thursday, May 8th. Finally, JPMorgan Chase & Co. increased their price target on Trimble from $88.00 to $95.00 and gave the company an "overweight" rating in a report on Thursday, July 10th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $89.43.

Trimble Price Performance

NASDAQ TRMB traded down $0.73 on Tuesday, reaching $79.47. 1,623,830 shares of the stock traded hands, compared to its average volume of 1,407,615. The firm's fifty day simple moving average is $73.33 and its 200 day simple moving average is $70.13. The company has a quick ratio of 0.72, a current ratio of 0.84 and a debt-to-equity ratio of 0.26. The company has a market cap of $18.96 billion, a price-to-earnings ratio of 12.96, a P/E/G ratio of 3.42 and a beta of 1.67. Trimble Inc. has a 12 month low of $48.65 and a 12 month high of $81.66.

Trimble (NASDAQ:TRMB - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.01. The business had revenue of $840.60 million during the quarter, compared to analyst estimates of $810.45 million. Trimble had a return on equity of 9.87% and a net margin of 42.40%. The company's revenue was down 11.8% compared to the same quarter last year. During the same period last year, the company posted $0.64 EPS. As a group, research analysts predict that Trimble Inc. will post 2.37 EPS for the current fiscal year.

About Trimble

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.