Candriam S.C.A. Increases Position in Trimble Inc. (NASDAQ:TRMB)

Candriam S.C.A. grew its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 6.0% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,117,425 shares of the scientific and technical instruments company’s stock after purchasing an additional 62,989 shares during the period. Candriam S.C.A.’s holdings in Trimble were worth $62,483,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Frazier Financial Advisors LLC purchased a new position in Trimble during the fourth quarter valued at $26,000. Tobam bought a new position in shares of Trimble during the first quarter valued at $35,000. GPS Wealth Strategies Group LLC increased its stake in Trimble by 303.2% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 637 shares of the scientific and technical instruments company’s stock valued at $36,000 after purchasing an additional 479 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Trimble by 96.0% during the second quarter. Blue Trust Inc. now owns 639 shares of the scientific and technical instruments company’s stock valued at $36,000 after buying an additional 313 shares during the last quarter. Finally, Principal Securities Inc. purchased a new stake in Trimble during the 4th quarter valued at $52,000. 93.21% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

TRMB has been the subject of a number of research analyst reports. Robert W. Baird lifted their price target on shares of Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. JPMorgan Chase & Co. decreased their target price on shares of Trimble from $65.00 to $58.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. StockNews.com cut Trimble from a “buy” rating to a “hold” rating in a report on Wednesday. Oppenheimer reaffirmed an “outperform” rating and issued a $72.00 price objective on shares of Trimble in a report on Wednesday, August 7th. Finally, Piper Sandler reissued an “overweight” rating and issued a $73.00 target price on shares of Trimble in a report on Monday, August 19th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $65.33.

Trimble Trading Down 2.9 %

Shares of TRMB stock opened at $54.15 on Friday. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.99 and a quick ratio of 0.88. The company has a market cap of $13.22 billion, a price-to-earnings ratio of 56.41, a PEG ratio of 2.50 and a beta of 1.48. Trimble Inc. has a 1 year low of $39.57 and a 1 year high of $65.55. The firm has a fifty day moving average price of $55.13 and a 200-day moving average price of $57.78.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings results on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.04. The business had revenue of $870.80 million for the quarter, compared to the consensus estimate of $862.50 million. Trimble had a net margin of 40.70% and a return on equity of 10.94%. The company’s revenue for the quarter was down 12.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.51 earnings per share. As a group, equities analysts predict that Trimble Inc. will post 2.22 earnings per share for the current year.

Trimble 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.