EverSource Wealth Advisors LLC Raises Position in Trimble Inc. (NASDAQ:TRMB)

EverSource Wealth Advisors LLC increased its holdings in Trimble Inc. (NASDAQ:TRMB) by 106.4% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,281 shares of the scientific and technical instruments company’s stock after buying an additional 1,691 shares during the period. EverSource Wealth Advisors LLC’s holdings in Trimble were worth $197,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in TRMB. Frazier Financial Advisors LLC purchased a new stake in shares of Trimble in the fourth quarter worth $26,000. Tobam purchased a new stake in shares of Trimble in the first quarter worth $35,000. Principal Securities Inc. purchased a new stake in shares of Trimble in the fourth quarter worth $52,000. Sound Income Strategies LLC raised its position in Trimble by 171.9% during the first quarter. Sound Income Strategies LLC now owns 998 shares of the scientific and technical instruments company’s stock valued at $64,000 after purchasing an additional 631 shares in the last quarter. Finally, Criterion Capital Advisors LLC purchased a new stake in Trimble during the fourth quarter valued at about $67,000. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Trimble Trading Down 3.1 %

Shares of NASDAQ:TRMB traded down $1.65 on Friday, reaching $50.86. 2,058,111 shares of the company traded hands, compared to its average volume of 1,101,715. The business’s 50-day simple moving average is $55.62 and its 200 day simple moving average is $57.56. Trimble Inc. has a 52 week low of $39.57 and a 52 week high of $65.55. The stock has a market capitalization of $12.42 billion, a P/E ratio of 52.98, a price-to-earnings-growth ratio of 2.38 and a beta of 1.50. The company has a current ratio of 1.00, a quick ratio of 0.88 and a debt-to-equity ratio of 0.57.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings data on Friday, May 3rd. The scientific and technical instruments company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.48 by $0.04. Trimble had a return on equity of 12.04% and a net margin of 6.25%. The firm had revenue of $953.30 million for the quarter, compared to analysts’ expectations of $921.15 million. As a group, equities analysts anticipate that Trimble Inc. will post 2.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on TRMB shares. Piper Sandler restated an “overweight” rating and set a $73.00 price target on shares of Trimble in a research report on Monday, May 6th. Raymond James restated an “outperform” rating and set a $65.00 price target on shares of Trimble in a research report on Wednesday, May 15th. JPMorgan Chase & Co. raised their price target on Trimble from $57.00 to $67.00 and gave the company a “neutral” rating in a research report on Wednesday, May 1st. Finally, Oppenheimer restated an “outperform” rating and set a $72.00 price target on shares of Trimble in a research report on Monday, May 6th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $66.67.

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.