Public Employees Retirement Association of Colorado Lowers Position in Trimble Inc. (NASDAQ:TRMB)

Public Employees Retirement Association of Colorado lessened its stake in Trimble Inc. (NASDAQ:TRMB) by 4.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,712 shares of the scientific and technical instruments company’s stock after selling 1,140 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Trimble were worth $1,719,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in TRMB. Price T Rowe Associates Inc. MD increased its stake in Trimble by 1.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 344,742 shares of the scientific and technical instruments company’s stock valued at $22,189,000 after acquiring an additional 5,076 shares during the last quarter. Lazard Asset Management LLC boosted its holdings in shares of Trimble by 25.4% in the 1st quarter. Lazard Asset Management LLC now owns 2,549,535 shares of the scientific and technical instruments company’s stock worth $164,087,000 after purchasing an additional 516,789 shares in the last quarter. Truvestments Capital LLC bought a new position in shares of Trimble during the 1st quarter valued at about $244,000. Capital Group Private Client Services Inc. raised its holdings in shares of Trimble by 77.8% during the 1st quarter. Capital Group Private Client Services Inc. now owns 891,592 shares of the scientific and technical instruments company’s stock valued at $57,383,000 after buying an additional 390,171 shares in the last quarter. Finally, Natixis boosted its stake in shares of Trimble by 10.6% in the 1st quarter. Natixis now owns 32,481 shares of the scientific and technical instruments company’s stock valued at $2,090,000 after purchasing an additional 3,115 shares in the last quarter. Institutional investors own 93.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on TRMB shares. Raymond James restated an “outperform” rating and set a $65.00 price target on shares of Trimble in a research report on Wednesday, May 15th. Piper Sandler reiterated an “overweight” rating and set a $73.00 target price on shares of Trimble in a report on Monday, May 6th. Oppenheimer reissued an “outperform” rating and set a $72.00 target price on shares of Trimble in a research note on Monday, May 6th. Finally, JPMorgan Chase & Co. raised their price target on Trimble from $57.00 to $67.00 and gave the stock a “neutral” rating in a research note on Wednesday, May 1st. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $66.67.

Trimble Stock Up 0.7 %

Shares of NASDAQ:TRMB opened at $55.40 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.88 and a current ratio of 1.00. Trimble Inc. has a 52-week low of $39.57 and a 52-week high of $65.55. The firm has a market capitalization of $13.53 billion, a P/E ratio of 57.29, a P/E/G ratio of 2.51 and a beta of 1.50. The stock has a 50 day moving average price of $55.95 and a 200-day moving average price of $57.55.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings data on Friday, May 3rd. The scientific and technical instruments company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.48 by $0.04. The business had revenue of $953.30 million during the quarter, compared to analyst estimates of $921.15 million. Trimble had a return on equity of 12.04% and a net margin of 6.25%. As a group, equities research analysts anticipate that Trimble Inc. will post 2.21 EPS for the current fiscal year.

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.