Versor Investments LP Acquires New Position in Trimble Inc. $TRMB

Versor Investments LP acquired a new stake in Trimble Inc. (NASDAQ:TRMB) in the 2nd quarter, Holdings Channel.com reports. The firm acquired 8,709 shares of the scientific and technical instruments company’s stock, valued at approximately $662,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Balboa Wealth Partners lifted its stake in shares of Trimble by 4.7% in the second quarter. Balboa Wealth Partners now owns 3,204 shares of the scientific and technical instruments company’s stock valued at $243,000 after purchasing an additional 144 shares during the period. MAI Capital Management raised its position in Trimble by 6.6% during the first quarter. MAI Capital Management now owns 2,684 shares of the scientific and technical instruments company’s stock worth $176,000 after acquiring an additional 165 shares during the last quarter. Horizon Investments LLC raised its position in Trimble by 5.6% during the first quarter. Horizon Investments LLC now owns 3,528 shares of the scientific and technical instruments company’s stock worth $232,000 after acquiring an additional 188 shares during the last quarter. CW Advisors LLC raised its position in Trimble by 1.9% during the first quarter. CW Advisors LLC now owns 11,172 shares of the scientific and technical instruments company’s stock worth $733,000 after acquiring an additional 207 shares during the last quarter. Finally, V Square Quantitative Management LLC raised its position in Trimble by 3.0% during the second quarter. V Square Quantitative Management LLC now owns 7,181 shares of the scientific and technical instruments company’s stock worth $546,000 after acquiring an additional 210 shares during the last quarter. Institutional investors and hedge funds own 93.21% of the company’s stock.

Insider Activity at Trimble

In related news, Director James Calvin Dalton sold 609 shares of the business’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $82.41, for a total value of $50,187.69. Following the completion of the sale, the director directly owned 13,809 shares in the company, valued at approximately $1,137,999.69. The trade was a 4.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert G. Painter sold 7,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $75.65, for a total transaction of $567,375.00. Following the completion of the sale, the chief executive officer owned 92,379 shares of the company’s stock, valued at approximately $6,988,471.35. The trade was a 7.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 224,321 shares of company stock worth $18,677,518. 0.54% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Raymond James Financial restated an “outperform” rating and set a $93.00 target price (up previously from $85.00) on shares of Trimble in a research report on Thursday, August 7th. Weiss Ratings restated a “hold (c)” rating on shares of Trimble in a research report on Wednesday, October 8th. Oppenheimer lifted their target price on shares of Trimble from $88.00 to $94.00 and gave the stock an “outperform” rating in a research report on Thursday, August 7th. Wall Street Zen upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Finally, Berenberg Bank set a $95.00 target price on shares of Trimble and gave the stock a “buy” rating in a research report on Friday, October 3rd. Two research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $92.10.

Trimble Stock Performance

Shares of NASDAQ TRMB opened at $79.57 on Tuesday. The company has a market cap of $18.94 billion, a PE ratio of 68.60, a price-to-earnings-growth ratio of 3.26 and a beta of 1.65. Trimble Inc. has a 12 month low of $52.91 and a 12 month high of $87.50. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.94 and a quick ratio of 0.81. The company has a 50-day simple moving average of $80.17 and a 200-day simple moving average of $76.59.

Trimble (NASDAQ:TRMB) last issued its quarterly earnings results on Friday, April 12th. The scientific and technical instruments company reported $0.60 EPS for the quarter. The business had revenue of $856.50 million during the quarter. Trimble had a net margin of 8.02% and a return on equity of 10.24%. On average, equities analysts anticipate that Trimble Inc. will post 2.37 earnings per share for the current year.

About Trimble

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.