Trimble Inc. (NASDAQ:TRMB) Shares Bought by Versant Capital Management Inc

Versant Capital Management Inc raised its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 369.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 8,861 shares of the scientific and technical instruments company’s stock after acquiring an additional 6,975 shares during the period. Versant Capital Management Inc’s holdings in Trimble were worth $582,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in TRMB. Norges Bank acquired a new position in Trimble during the fourth quarter valued at $190,391,000. Boston Partners raised its stake in shares of Trimble by 217.3% during the 4th quarter. Boston Partners now owns 3,377,136 shares of the scientific and technical instruments company’s stock valued at $239,802,000 after buying an additional 2,312,937 shares during the last quarter. Select Equity Group L.P. lifted its holdings in shares of Trimble by 22.4% in the 4th quarter. Select Equity Group L.P. now owns 10,154,341 shares of the scientific and technical instruments company’s stock valued at $717,506,000 after buying an additional 1,857,517 shares during the period. TimesSquare Capital Management LLC acquired a new position in shares of Trimble in the 4th quarter valued at about $50,041,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Trimble by 69.4% in the fourth quarter. JPMorgan Chase & Co. now owns 1,271,403 shares of the scientific and technical instruments company’s stock worth $89,837,000 after buying an additional 520,980 shares during the last quarter. 93.21% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Kaigham Gabriel sold 6,511 shares of the stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $71.69, for a total value of $466,773.59. Following the completion of the transaction, the director now directly owns 17,939 shares of the company’s stock, valued at approximately $1,286,046.91. This represents a 26.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.54% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Cfra raised Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price target for the company in a report on Thursday, February 20th. Oppenheimer boosted their target price on shares of Trimble from $88.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. increased their price target on shares of Trimble from $84.00 to $88.00 and gave the stock an “overweight” rating in a report on Wednesday, May 14th. Wall Street Zen cut shares of Trimble from a “buy” rating to a “hold” rating in a report on Thursday, May 8th. Finally, Piper Sandler reissued an “overweight” rating and set a $84.00 target price on shares of Trimble in a research note on Thursday, May 8th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Trimble currently has a consensus rating of “Buy” and an average price target of $88.43.

Trimble Stock Performance

NASDAQ:TRMB opened at $71.66 on Friday. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.27. The stock has a market capitalization of $17.10 billion, a PE ratio of 11.77, a P/E/G ratio of 3.09 and a beta of 1.67. Trimble Inc. has a fifty-two week low of $48.65 and a fifty-two week high of $77.78. The company has a fifty day moving average of $64.47 and a two-hundred day moving average of $69.64.

Trimble (NASDAQ:TRMB) last released its quarterly earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.01. The firm had revenue of $840.60 million during the quarter, compared to the consensus estimate of $810.45 million. Trimble had a net margin of 40.84% and a return on equity of 10.56%. The company’s revenue for the quarter was down 11.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.64 EPS. As a group, research analysts forecast that Trimble Inc. will post 2.37 earnings per share for the current fiscal year.

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.