UniSuper Management Pty Ltd Trims Stake in Trimble Inc. (NASDAQ:TRMB)

UniSuper Management Pty Ltd lessened its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 84.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,477 shares of the scientific and technical instruments company’s stock after selling 95,885 shares during the period. UniSuper Management Pty Ltd’s holdings in Trimble were worth $1,125,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Frazier Financial Advisors LLC bought a new position in Trimble during the fourth quarter valued at approximately $26,000. Tobam bought a new stake in shares of Trimble during the 1st quarter valued at about $35,000. Principal Securities Inc. purchased a new stake in shares of Trimble during the 4th quarter valued at about $52,000. Sound Income Strategies LLC lifted its stake in shares of Trimble by 171.9% in the 1st quarter. Sound Income Strategies LLC now owns 998 shares of the scientific and technical instruments company’s stock worth $64,000 after purchasing an additional 631 shares during the period. Finally, Criterion Capital Advisors LLC purchased a new position in shares of Trimble in the fourth quarter worth approximately $67,000. Institutional investors own 93.21% of the company’s stock.

Wall Street Analyst Weigh In

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

Trimble Trading Down 2.5 %

TRMB stock traded down $1.41 during midday trading on Wednesday, reaching $55.70. 1,321,293 shares of the company traded hands, compared to its average volume of 1,350,843. The firm has a market capitalization of $13.60 billion, a price-to-earnings ratio of 59.55, a P/E/G ratio of 2.60 and a beta of 1.50. The business has a 50 day moving average of $56.12 and a 200-day moving average of $57.44. Trimble Inc. has a 52-week low of $39.57 and a 52-week high of $65.55. 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 (NASDAQ:TRMB) last released its earnings results on Friday, May 3rd. The scientific and technical instruments company reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.04. The firm had revenue of $953.30 million during the quarter, compared to analyst estimates of $921.15 million. Trimble had a net margin of 6.25% and a return on equity of 12.04%. As a group, sell-side analysts expect that Trimble Inc. will post 2.21 earnings per share for the current fiscal year.

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.