Allspring Global Investments Holdings LLC Purchases 12,660 Shares of Trimble Inc. (NASDAQ:TRMB)

Allspring Global Investments Holdings LLC boosted its position in Trimble Inc. (NASDAQ:TRMB) by 78.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,721 shares of the scientific and technical instruments company’s stock after acquiring an additional 12,660 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Trimble were worth $1,783,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in Trimble by 25.6% during the first 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 in the last quarter. Illinois Municipal Retirement Fund grew its position in shares of Trimble by 484.3% in the 1st quarter. Illinois Municipal Retirement Fund now owns 90,705 shares of the scientific and technical instruments company’s stock valued at $5,838,000 after purchasing an additional 75,182 shares during the period. CANADA LIFE ASSURANCE Co increased its stake in Trimble by 11.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 247,807 shares of the scientific and technical instruments company’s stock worth $15,960,000 after purchasing an additional 24,938 shares in the last quarter. Trustmark National Bank Trust Department acquired a new stake in Trimble during the 1st quarter worth approximately $579,000. Finally, Swedbank AB acquired a new stake in Trimble during the 1st quarter worth approximately $17,937,000. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Trimble Stock Down 0.5 %

Shares of Trimble stock opened at $61.36 on Thursday. The stock’s 50-day moving average is $59.13 and its 200 day moving average is $57.12. Trimble Inc. has a one year low of $39.57 and a one year high of $65.55. The firm has a market cap of $14.98 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 2.73 and a beta of 1.49. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.99 and a quick ratio of 0.88.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.04. Trimble had a net margin of 40.70% and a return on equity of 10.94%. The business had revenue of $870.80 million during the quarter, compared to analyst estimates of $862.50 million. During the same quarter in the previous year, the business posted $0.51 EPS. Trimble’s quarterly revenue was down 12.4% on a year-over-year basis. Equities research analysts anticipate that Trimble Inc. will post 2.23 EPS for the current year.

Wall Street Analysts Forecast Growth

TRMB has been the topic of several recent research reports. StockNews.com downgraded Trimble from a “buy” rating to a “hold” rating in a research note on Thursday, October 24th. Piper Sandler reissued an “overweight” rating and issued a $73.00 target price on shares of Trimble in a research report on Monday, August 19th. Oppenheimer reaffirmed an “outperform” rating and set a $72.00 price target on shares of Trimble in a research report on Wednesday, August 7th. Robert W. Baird lifted their price objective on shares of Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a report on Thursday, August 8th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Trimble from $58.00 to $66.00 and gave the stock a “neutral” rating in a research report on Thursday, September 19th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $66.67.

Trimble 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.