Envestnet Asset Management Inc. Grows Stock Holdings in Trimble Inc. (NASDAQ:TRMB)

Envestnet Asset Management Inc. grew its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 3.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 283,216 shares of the scientific and technical instruments company’s stock after buying an additional 10,201 shares during the quarter. Envestnet Asset Management Inc. owned 0.12% of Trimble worth $18,593,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Crowley Wealth Management Inc. purchased a new position in shares of Trimble in the fourth quarter valued at $28,000. Central Pacific Bank Trust Division boosted its stake in shares of Trimble by 174.9% in the first quarter. Central Pacific Bank Trust Division now owns 558 shares of the scientific and technical instruments company’s stock valued at $37,000 after purchasing an additional 355 shares during the period. Putney Financial Group LLC purchased a new position in shares of Trimble in the fourth quarter valued at $51,000. Quarry LP boosted its stake in shares of Trimble by 121.8% in the fourth quarter. Quarry LP now owns 732 shares of the scientific and technical instruments company’s stock valued at $52,000 after purchasing an additional 402 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in shares of Trimble by 153.5% in the first quarter. Farther Finance Advisors LLC now owns 976 shares of the scientific and technical instruments company’s stock valued at $64,000 after purchasing an additional 591 shares during the period. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Trimble

In related news, VP Jennifer Allison sold 3,156 shares of the stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $80.00, for a total value of $252,480.00. Following the completion of the transaction, the vice president owned 2,882 shares in the company, valued at $230,560. This represents a 52.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Kaigham Gabriel sold 6,511 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $71.69, for a total transaction of $466,773.59. Following the completion of the transaction, the director owned 17,939 shares of the company’s stock, valued at $1,286,046.91. This represents a 26.63% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,047 shares of company stock worth $1,538,152. 0.54% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on TRMB shares. Wall Street Zen downgraded shares of Trimble from a “buy” rating to a “hold” rating in a research note on Thursday, May 8th. Piper Sandler reiterated an “overweight” rating and set a $84.00 price objective on shares of Trimble in a research note on Thursday, May 8th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Trimble from $88.00 to $95.00 and gave the company an “overweight” rating in a research note on Thursday, July 10th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Trimble currently has an average rating of “Buy” and an average price target of $89.43.

Trimble Trading Up 1.5%

NASDAQ TRMB opened at $80.67 on Thursday. Trimble Inc. has a 12 month low of $48.65 and a 12 month high of $81.66. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.84 and a quick ratio of 0.72. The company has a market capitalization of $19.25 billion, a price-to-earnings ratio of 13.16, a price-to-earnings-growth ratio of 3.38 and a beta of 1.67. The company’s fifty day moving average price is $73.62 and its two-hundred day moving average price is $70.20.

Trimble (NASDAQ:TRMB) last issued its earnings results on Wednesday, May 7th. The scientific and technical instruments company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.01. Trimble had a net margin of 42.40% and a return on equity of 9.87%. The company had revenue of $840.60 million for the quarter, compared to analysts’ expectations of $810.45 million. During the same period in the prior year, the company earned $0.64 earnings per share. The firm’s revenue was down 11.8% compared to the same quarter last year. As a group, research analysts predict 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.