Mizuho Securities USA LLC Sells 3,464 Shares of Trimble Inc. (NASDAQ:TRMB)

Key Points

• Mizuho Securities USA LLC has decreased its holdings in Trimble Inc. by 15.0%, leaving them with 19,681 shares valued at approximately $1.29 million.
• Other investors have increased their positions significantly, with Central Pacific Bank Trust Division boosting its stake by 174.9% during the same quarter.
• Trimble reported a quarterly earnings per share (EPS) of $0.71, exceeding analyst expectations and indicating a 0.6% year-over-year revenue increase.

Mizuho Securities USA LLC cut its holdings in Trimble Inc. (NASDAQ:TRMB - Free Report) by 15.0% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,681 shares of the scientific and technical instruments company's stock after selling 3,464 shares during the quarter. Mizuho Securities USA LLC's holdings in Trimble were worth $1,292,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TRMB. Central Pacific Bank Trust Division raised its holdings in shares of Trimble by 174.9% during 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 acquiring an additional 355 shares during the period. Putney Financial Group LLC acquired a new stake in shares of Trimble during the fourth quarter worth $51,000. Quarry LP raised its holdings in shares of Trimble by 121.8% during the fourth quarter. Quarry LP now owns 732 shares of the scientific and technical instruments company's stock worth $52,000 after acquiring an additional 402 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Trimble by 153.5% during the first quarter. Farther Finance Advisors LLC now owns 976 shares of the scientific and technical instruments company's stock worth $64,000 after acquiring an additional 591 shares during the period. Finally, Friedenthal Financial raised its holdings in shares of Trimble by 64.7% during the first quarter. Friedenthal Financial now owns 1,153 shares of the scientific and technical instruments company's stock worth $76,000 after acquiring an additional 453 shares during the period. 93.21% of the stock is owned by institutional investors.

Trimble Stock Performance

Shares of TRMB traded down $1.43 during midday trading on Friday, reaching $82.24. The stock had a trading volume of 2,024,643 shares, compared to its average volume of 2,065,060. The firm has a 50 day simple moving average of $79.11 and a 200-day simple moving average of $71.77. Trimble Inc. has a one year low of $52.91 and a one year high of $87.50. The firm has a market cap of $19.57 billion, a PE ratio of 70.90, a P/E/G ratio of 3.43 and a beta of 1.69. The company has a current ratio of 0.94, a quick ratio of 0.81 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 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 company had revenue of $875.70 million during the quarter, compared to the consensus estimate of $835.81 million. During the same quarter last year, the firm posted $0.62 EPS. The company's quarterly revenue was up .6% on a year-over-year basis. As a group, sell-side analysts anticipate that Trimble Inc. will post 2.37 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. Oppenheimer raised their price objective on shares of Trimble from $88.00 to $94.00 and gave the stock an "outperform" rating in a report on Thursday, August 7th. JPMorgan Chase & Co. raised their target price on shares of Trimble from $95.00 to $96.00 and gave the company an "overweight" rating in a research report on Thursday, August 7th. Wall Street Zen raised shares of Trimble from a "hold" rating to a "buy" rating in a research report on Saturday, August 9th. Raymond James Financial reaffirmed an "outperform" rating and issued a $93.00 target price (up previously from $85.00) on shares of Trimble in a research report on Thursday, August 7th. Finally, Piper Sandler reaffirmed an "overweight" rating and issued a $84.00 target price on shares of Trimble in a research report on Thursday, May 8th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $90.50.

Insider Activity at Trimble

In related news, VP Mark David Schwartz sold 1,404 shares of Trimble stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $80.00, for a total transaction of $112,320.00. Following the completion of the sale, the vice president owned 21,001 shares of the company's stock, valued at approximately $1,680,080. The trade was a 6.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kaigham Gabriel sold 6,511 shares of Trimble stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $71.69, for a total transaction of $466,773.59. Following the sale, the director directly owned 17,939 shares of the company's stock, valued at $1,286,046.91. The trade was a 26.63% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 228,894 shares of company stock worth $18,996,091. 0.54% of the stock is currently owned by corporate insiders.

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.