Candriam S.C.A. Raises Stake in Trimble Inc. (NASDAQ:TRMB)

Candriam S.C.A. grew its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 6.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,117,425 shares of the scientific and technical instruments company’s stock after acquiring an additional 62,989 shares during the quarter. Candriam S.C.A. owned 0.46% of Trimble worth $62,483,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Frazier Financial Advisors LLC purchased a new position in Trimble in the 4th quarter worth $26,000. Tobam purchased a new position in shares of Trimble in the first quarter worth about $35,000. GPS Wealth Strategies Group LLC lifted its stake in shares of Trimble by 303.2% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 637 shares of the scientific and technical instruments company’s stock valued at $36,000 after acquiring an additional 479 shares during the last quarter. Blue Trust Inc. boosted its holdings in Trimble by 96.0% during the 2nd quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock valued at $36,000 after acquiring an additional 313 shares during the period. Finally, Principal Securities Inc. bought a new position in Trimble during the 4th quarter worth approximately $52,000. 93.21% of the stock is currently owned by institutional investors.

Trimble Price Performance

Shares of NASDAQ TRMB opened at $54.15 on Friday. Trimble Inc. has a 1 year low of $39.57 and a 1 year high of $65.55. The stock has a market capitalization of $13.22 billion, a P/E ratio of 56.41, a P/E/G ratio of 2.50 and a beta of 1.48. The company’s 50-day moving average is $55.13 and its 200 day moving average is $57.78. 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 posted its 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 firm had revenue of $870.80 million for the quarter, compared to the consensus estimate of $862.50 million. Trimble had a return on equity of 10.94% and a net margin of 40.70%. The business’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.51 EPS. On average, sell-side analysts expect that Trimble Inc. will post 2.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TRMB. StockNews.com downgraded Trimble from a “buy” rating to a “hold” rating in a research report on Wednesday. JPMorgan Chase & Co. dropped their price target on shares of Trimble from $65.00 to $58.00 and set a “neutral” rating for the company in a research report on Wednesday, August 7th. Robert W. Baird boosted their price objective on shares of Trimble from $65.00 to $66.00 and gave the company an “outperform” rating in a research report on Thursday, August 8th. Raymond James reiterated an “outperform” rating and set a $65.00 target price on shares of Trimble in a report on Wednesday, May 15th. Finally, Piper Sandler restated an “overweight” rating and set a $73.00 price target on shares of Trimble in a report on Monday, August 19th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $65.33.

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.