Canandaigua National Corp Makes New $217,000 Investment in Trimble Inc. (NASDAQ:TRMB)

Canandaigua National Corp acquired a new position in shares of Trimble Inc. (NASDAQ:TRMBGet Rating) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,728 shares of the scientific and technical instruments company’s stock, valued at approximately $217,000.

A number of other institutional investors also recently made changes to their positions in TRMB. Select Equity Group L.P. boosted its holdings in shares of Trimble by 101.0% during the first quarter. Select Equity Group L.P. now owns 8,194,587 shares of the scientific and technical instruments company’s stock worth $591,158,000 after acquiring an additional 4,118,552 shares during the period. Norges Bank bought a new stake in shares of Trimble in the fourth quarter valued at approximately $301,255,000. Thrivent Financial for Lutherans boosted its stake in shares of Trimble by 10,875.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 1,212,913 shares of the scientific and technical instruments company’s stock valued at $105,754,000 after buying an additional 1,201,862 shares during the period. Impax Asset Management Group plc boosted its stake in shares of Trimble by 7.0% in the fourth quarter. Impax Asset Management Group plc now owns 8,512,207 shares of the scientific and technical instruments company’s stock valued at $741,152,000 after buying an additional 555,983 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in shares of Trimble by 20.8% in the first quarter. Bank of New York Mellon Corp now owns 3,228,118 shares of the scientific and technical instruments company’s stock valued at $232,875,000 after buying an additional 554,794 shares during the period. Institutional investors own 90.19% of the company’s stock.

Trimble Stock Performance

NASDAQ TRMB opened at $58.46 on Wednesday. The company has a market capitalization of $14.48 billion, a price-to-earnings ratio of 28.52, a PEG ratio of 1.97 and a beta of 1.58. Trimble Inc. has a twelve month low of $55.35 and a twelve month high of $91.96. The stock has a fifty day simple moving average of $65.02 and a 200 day simple moving average of $65.53. The company has a quick ratio of 0.76, a current ratio of 1.02 and a debt-to-equity ratio of 0.26.

Trimble (NASDAQ:TRMBGet Rating) last posted its quarterly earnings data on Friday, August 5th. The scientific and technical instruments company reported $0.64 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.02. The business had revenue of $941.20 million during the quarter, compared to the consensus estimate of $928.99 million. Trimble had a return on equity of 14.63% and a net margin of 13.76%. Trimble’s quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the business posted $0.61 earnings per share. Sell-side analysts expect that Trimble Inc. will post 2.36 EPS for the current year.

Wall Street Analysts Forecast Growth

TRMB has been the subject of several recent research reports. JPMorgan Chase & Co. cut their price target on Trimble from $70.00 to $65.00 and set a “neutral” rating for the company in a research note on Tuesday, July 12th. StockNews.com upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research report on Friday, September 9th. Wolfe Research initiated coverage on shares of Trimble in a research report on Tuesday, August 16th. They set a “market perform” rating for the company. Finally, Piper Sandler downgraded shares of Trimble from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $82.00 to $70.00 in a research report on Thursday, September 8th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $74.40.

Insider Buying and Selling at Trimble

In other news, SVP Darryl R. Matthews sold 4,000 shares of the stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $71.30, for a total transaction of $285,200.00. Following the transaction, the senior vice president now owns 38,136 shares of the company’s stock, valued at approximately $2,719,096.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, SVP Darryl R. Matthews sold 4,000 shares of the stock in a transaction dated Thursday, August 18th. The shares were sold at an average price of $71.30, for a total transaction of $285,200.00. Following the transaction, the senior vice president now owns 38,136 shares of the company’s stock, valued at approximately $2,719,096.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP James A. Kirkland sold 5,412 shares of the stock in a transaction dated Monday, August 15th. The stock was sold at an average price of $71.53, for a total transaction of $387,120.36. Following the transaction, the senior vice president now directly owns 65,132 shares in the company, valued at approximately $4,658,891.96. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,676 shares of company stock valued at $1,785,537. 0.43% of the stock is currently owned by insiders.

About Trimble

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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 route selection and design; 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.

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Institutional Ownership by Quarter for Trimble (NASDAQ:TRMB)

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