Texas Permanent School Fund Corp Purchases 16,376 Shares of Trimble Inc. (NASDAQ:TRMB)

Posted by on Jul 28th, 2023

Texas Permanent School Fund Corp grew its position in shares of Trimble Inc. (NASDAQ:TRMB – Free Report) by 46.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 51,417 shares of the scientific and technical instruments company’s stock after purchasing an additional 16,376 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Trimble were worth $2,695,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in TRMB. Ronald Blue Trust Inc. boosted its position in Trimble by 320.0% during the 4th quarter. Ronald Blue Trust Inc. now owns 546 shares of the scientific and technical instruments company’s stock worth $30,000 after buying an additional 416 shares during the period. Exos TFP Holdings LLC bought a new stake in shares of Trimble in the fourth quarter worth $31,000. Compagnie Lombard Odier SCmA bought a new position in Trimble during the 4th quarter worth $33,000. CI Investments Inc. lifted its holdings in Trimble by 109.3% during the 4th quarter. CI Investments Inc. now owns 695 shares of the scientific and technical instruments company’s stock worth $35,000 after buying an additional 363 shares during the period. Finally, Belpointe Asset Management LLC acquired a new stake in shares of Trimble in the fourth quarter valued at about $36,000. 89.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Robert G. Painter sold 2,500 shares of Trimble stock in a transaction that occurred on Tuesday, July 11th. The stock was sold at an average price of $53.00, for a total transaction of $132,500.00. Following the transaction, the chief executive officer now owns 215,356 shares of the company’s stock, valued at $11,413,868. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.61% of the company’s stock.

Wall Street Analysts Forecast Growth

TRMB has been the topic of a number of recent analyst reports. 888 reaffirmed a “maintains” rating on shares of Trimble in a research note on Thursday, May 4th. StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a research note on Monday, June 19th. Edward Jones raised shares of Trimble from a “hold” rating to a “buy” rating in a research note on Wednesday, April 5th. Finally, Robert W. Baird cut their price target on shares of Trimble from $63.00 to $59.00 in a research report on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $59.00.

Trimble Trading Down 1.1 %

Shares of Trimble stock opened at $53.36 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.24 and a current ratio of 1.51. Trimble Inc. has a 52 week low of $45.43 and a 52 week high of $72.24. The stock has a 50 day moving average price of $50.76 and a two-hundred day moving average price of $51.36. The stock has a market capitalization of $13.22 billion, a PE ratio of 28.53, a price-to-earnings-growth ratio of 2.49 and a beta of 1.58.

Trimble (NASDAQ:TRMB – Get Free Report) last released its quarterly earnings data on Wednesday, May 3rd. The scientific and technical instruments company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.05. The firm had revenue of $915.40 million for the quarter, compared to the consensus estimate of $935.43 million. Trimble had a net margin of 13.01% and a return on equity of 13.68%. As a group, equities analysts anticipate that Trimble Inc. will post 2.17 earnings per share for the current fiscal year.

About Trimble

(Free Report)

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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