Prospector Partners LLC Cuts Stock Position in Trimble Inc. $TRMB

Key Points

• Prospector Partners LLC reduced its stake in Trimble Inc. by 32.5%, selling 92,876 shares, resulting in ownership of approximately $12.69 million worth of stock.
• Institutional investors now hold 93.21% of Trimble's stock, with multiple funds like Nuveen LLC and Raymond James significantly increasing their positions in recent quarters.
• Trimble reported better-than-expected earnings, with an EPS of $0.71 against a consensus estimate of $0.63, and revenue of $875.70 million, surpassing the forecast of $835.81 million.

Prospector Partners LLC lowered its position in Trimble Inc. (NASDAQ:TRMB - Free Report) by 32.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 193,301 shares of the scientific and technical instruments company's stock after selling 92,876 shares during the quarter. Prospector Partners LLC owned approximately 0.08% of Trimble worth $12,690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Central Pacific Bank Trust Division boosted its stake in Trimble by 174.9% in the first quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company's stock worth $37,000 after buying an additional 355 shares in the last quarter. Putney Financial Group LLC purchased a new stake in Trimble in the fourth quarter worth approximately $51,000. Quarry LP boosted its stake in Trimble by 121.8% in the fourth quarter. Quarry LP now owns 732 shares of the scientific and technical instruments company's stock worth $52,000 after buying an additional 402 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Trimble by 153.5% in the first quarter. Farther Finance Advisors LLC now owns 976 shares of the scientific and technical instruments company's stock worth $64,000 after buying an additional 591 shares in the last quarter. Finally, Friedenthal Financial lifted 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 valued at $76,000 after purchasing an additional 453 shares during the last quarter. Hedge funds and other institutional investors own 93.21% of the company's stock.

Insider Buying and Selling

In other Trimble news, VP Mark David Schwartz sold 1,476 shares of Trimble 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 sale, the vice president owned 22,405 shares of the company's stock, valued at approximately $1,747,590. This trade represents a 6.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jennifer Allison sold 3,156 shares of Trimble stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $80.00, for a total value of $252,480.00. Following the completion of the sale, the vice president directly owned 2,882 shares of the company's stock, valued at approximately $230,560. The trade was a 52.27% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 228,894 shares of company stock worth $18,996,091 over the last three months. 0.54% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on TRMB. Wall Street Zen upgraded Trimble from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Piper Sandler reiterated an "overweight" rating and issued a $84.00 price objective on shares of Trimble in a research report on Thursday, May 8th. Oppenheimer boosted their price objective on Trimble from $88.00 to $94.00 and gave the company an "outperform" rating in a research report on Thursday, August 7th. JPMorgan Chase & Co. boosted their price objective on Trimble from $95.00 to $96.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Finally, Raymond James Financial reiterated an "outperform" rating and issued a $93.00 price objective (up previously from $85.00) on shares of Trimble in a research report on Thursday, August 7th. One investment analyst has rated the stock with a Strong Buy rating and seven have given a Buy rating to the company's stock. According to MarketBeat.com, Trimble presently has a consensus rating of "Buy" and an average target price of $90.50.

Trimble Stock Down 2.0%

Shares of NASDAQ TRMB traded down $1.68 during mid-day trading on Tuesday, hitting $81.12. 2,139,505 shares of the stock traded hands, compared to its average volume of 2,054,260. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.81 and a current ratio of 0.94. Trimble Inc. has a 52 week low of $52.91 and a 52 week high of $87.50. The company has a market cap of $19.30 billion, a price-to-earnings ratio of 69.93, a PEG ratio of 3.40 and a beta of 1.69. The stock has a fifty day moving average price of $79.48 and a 200-day moving average price of $71.85.

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. Research analysts anticipate that Trimble Inc. will post 2.37 EPS for the current year.

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.