Vega Investment Solutions Buys New Stake in Trimble Inc. (NASDAQ:TRMB)

Vega Investment Solutions purchased a new stake in Trimble Inc. (NASDAQ:TRMB - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 15,000 shares of the scientific and technical instruments company's stock, valued at approximately $1,060,000. Trimble accounts for approximately 0.9% of Vega Investment Solutions' holdings, making the stock its 25th largest holding.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Crowley Wealth Management Inc. purchased a new position in Trimble in the 4th quarter valued at approximately $28,000. Rialto Wealth Management LLC purchased a new position in Trimble in the 4th quarter valued at approximately $35,000. SBI Securities Co. Ltd. purchased a new position in Trimble in the 4th quarter valued at approximately $36,000. Larson Financial Group LLC boosted its position in Trimble by 164.8% in the 4th quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company's stock valued at $48,000 after buying an additional 422 shares during the period. Finally, Quarry LP boosted its position in Trimble by 121.8% in the 4th quarter. Quarry LP now owns 732 shares of the scientific and technical instruments company's stock valued at $52,000 after buying an additional 402 shares during the period. Hedge funds and other institutional investors own 93.21% of the company's stock.

Trimble Price Performance

Trimble stock opened at $70.79 on Friday. Trimble Inc. has a 12-month low of $48.65 and a 12-month high of $77.78. The stock has a market cap of $16.89 billion, a P/E ratio of 11.62, a price-to-earnings-growth ratio of 3.09 and a beta of 1.67. The company has a current ratio of 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. The company has a fifty day simple moving average of $64.45 and a 200-day simple moving average of $69.61.

Trimble (NASDAQ:TRMB - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share for the quarter, beating analysts' consensus estimates of $0.60 by $0.01. Trimble had a net margin of 40.84% and a return on equity of 10.56%. The firm had revenue of $840.60 million during the quarter, compared to analysts' expectations of $810.45 million. During the same period in the previous year, the company earned $0.64 earnings per share. Trimble's quarterly revenue was down 11.8% compared to the same quarter last year. Equities analysts expect that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. JPMorgan Chase & Co. raised their price target on shares of Trimble from $84.00 to $88.00 and gave the company an "overweight" rating in a research report on Wednesday, May 14th. Wall Street Zen cut shares of Trimble from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Oppenheimer lifted their price objective on shares of Trimble from $88.00 to $90.00 and gave the stock an "outperform" rating in a research report on Thursday, February 20th. Cfra raised shares of Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 price objective for the company in a research report on Thursday, February 20th. Finally, Piper Sandler reaffirmed an "overweight" rating and set a $84.00 price objective on shares of Trimble in a research report on Thursday, May 8th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $88.43.

Insider Activity at Trimble

In other Trimble news, Director James Calvin Dalton sold 2,141 shares of Trimble stock in a transaction on Monday, February 24th. The shares were sold at an average price of $71.79, for a total value of $153,702.39. Following the transaction, the director now directly owns 10,162 shares in the company, valued at approximately $729,529.98. The trade was a 17.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Christopher F. Keating sold 5,709 shares of Trimble stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $72.00, for a total transaction of $411,048.00. The disclosure for this sale can be found here. 0.54% of the stock is 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.

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