Public Employees Retirement Association of Colorado Sells 1,169 Shares of Trimble Inc. (NASDAQ:TRMB)

Public Employees Retirement Association of Colorado lowered its position in Trimble Inc. (NASDAQ:TRMB) by 4.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,543 shares of the scientific and technical instruments company’s stock after selling 1,169 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in Trimble were worth $1,428,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Trimble by 25.6% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 296,093 shares of the scientific and technical instruments company’s stock worth $19,057,000 after acquiring an additional 60,409 shares during the last quarter. Contour Asset Management LLC raised its position in shares of Trimble by 14.6% in the fourth quarter. Contour Asset Management LLC now owns 3,479,817 shares of the scientific and technical instruments company’s stock valued at $185,126,000 after purchasing an additional 442,131 shares during the period. Illinois Municipal Retirement Fund lifted its stake in shares of Trimble by 484.3% during the 1st quarter. Illinois Municipal Retirement Fund now owns 90,705 shares of the scientific and technical instruments company’s stock worth $5,838,000 after buying an additional 75,182 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in shares of Trimble by 2.4% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,315,941 shares of the scientific and technical instruments company’s stock worth $342,134,000 after buying an additional 126,472 shares during the period. Finally, Hsbc Holdings PLC grew its stake in Trimble by 11.6% in the 4th quarter. Hsbc Holdings PLC now owns 407,332 shares of the scientific and technical instruments company’s stock valued at $21,691,000 after buying an additional 42,432 shares during the last quarter. Institutional investors own 93.21% of the company’s stock.

Trimble Stock Down 0.1 %

TRMB stock opened at $58.52 on Wednesday. Trimble Inc. has a 52 week low of $39.57 and a 52 week high of $65.55. The business has a 50-day simple moving average of $55.37 and a 200 day simple moving average of $57.35. The company has a quick ratio of 0.88, a current ratio of 0.99 and a debt-to-equity ratio of 0.25. The company has a market cap of $14.29 billion, a PE ratio of 60.96, a price-to-earnings-growth ratio of 2.63 and a beta of 1.48.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.04. The company had revenue of $870.80 million during the quarter, compared to the consensus estimate of $862.50 million. Trimble had a net margin of 40.70% and a return on equity of 10.94%. The firm’s quarterly revenue was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.51 EPS. Sell-side analysts anticipate that Trimble Inc. will post 2.22 EPS for the current fiscal year.

Wall Street Analyst Weigh In

TRMB has been the subject of a number of research analyst reports. Oppenheimer restated an “outperform” rating and set a $72.00 price objective on shares of Trimble in a report on Wednesday, August 7th. Robert W. Baird upped their price objective on Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. JPMorgan Chase & Co. lifted their target price on Trimble from $58.00 to $66.00 and gave the stock a “neutral” rating in a report on Thursday, September 19th. Piper Sandler restated an “overweight” rating and issued a $73.00 price target on shares of Trimble in a research note on Monday, August 19th. Finally, StockNews.com upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research note on Thursday, September 12th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $66.67.

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.