Bank of Nova Scotia boosted its position in Trimble Inc. (NASDAQ:TRMB – Get Rating) by 162.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 317,674 shares of the scientific and technical instruments company’s stock after purchasing an additional 196,432 shares during the quarter. Bank of Nova Scotia owned approximately 0.13% of Trimble worth $18,499,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. GHP Investment Advisors Inc. purchased a new stake in shares of Trimble in the first quarter worth $26,000. Atwood & Palmer Inc. purchased a new stake in shares of Trimble in the first quarter worth $29,000. Trust Co. of Vermont purchased a new stake in shares of Trimble in the second quarter worth $29,000. Column Capital Advisors LLC grew its stake in shares of Trimble by 74.7% in the second quarter. Column Capital Advisors LLC now owns 676 shares of the scientific and technical instruments company’s stock worth $39,000 after acquiring an additional 289 shares during the last quarter. Finally, Tobam purchased a new stake in shares of Trimble in the second quarter worth $64,000. 90.19% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have recently commented on the company. Oppenheimer cut their target price on Trimble from $86.00 to $72.00 in a research note on Thursday, November 3rd. TheStreet cut Trimble from a “b-” rating to a “c+” rating in a research report on Tuesday, October 11th. StockNews.com cut Trimble from a “buy” rating to a “hold” rating in a research report on Thursday, November 3rd. Robert W. Baird dropped their price objective on Trimble from $70.00 to $65.00 in a research report on Thursday, November 3rd. Finally, JPMorgan Chase & Co. dropped their price objective on Trimble from $64.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, November 3rd. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Trimble presently has an average rating of “Hold” and an average price target of $68.83.
Insiders Place Their Bets
Trimble Trading Up 4.8 %
Shares of NASDAQ:TRMB opened at $62.00 on Friday. The stock has a market capitalization of $15.29 billion, a price-to-earnings ratio of 32.63, a PEG ratio of 2.08 and a beta of 1.57. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.72 and a current ratio of 0.99. The stock’s 50-day simple moving average is $57.21 and its two-hundred day simple moving average is $61.93. Trimble Inc. has a 52-week low of $49.99 and a 52-week high of $89.79.
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 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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