Public Employees Retirement Association of Colorado Lowers Stake in Trimble Inc. (NASDAQ:TRMB)

Public Employees Retirement Association of Colorado cut its stake in Trimble Inc. (NASDAQ:TRMB) by 4.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 26,712 shares of the scientific and technical instruments company’s stock after selling 1,140 shares during the period. Public Employees Retirement Association of Colorado’s holdings in Trimble were worth $1,719,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. Frazier Financial Advisors LLC bought a new stake in shares of Trimble during the fourth quarter valued at approximately $26,000. Tobam purchased a new position in shares of Trimble during the first quarter valued at $35,000. Principal Securities Inc. purchased a new stake in Trimble in the fourth quarter worth about $52,000. Sound Income Strategies LLC grew its holdings in Trimble by 171.9% during the 1st quarter. Sound Income Strategies LLC now owns 998 shares of the scientific and technical instruments company’s stock worth $64,000 after acquiring an additional 631 shares in the last quarter. Finally, Criterion Capital Advisors LLC purchased a new position in Trimble during the 4th quarter valued at about $67,000. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Trimble Price Performance

TRMB opened at $55.40 on Tuesday. The business’s 50-day moving average is $55.95 and its two-hundred day moving average is $57.55. Trimble Inc. has a 1 year low of $39.57 and a 1 year high of $65.55. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.00 and a quick ratio of 0.88. The firm has a market capitalization of $13.53 billion, a PE ratio of 57.29, a price-to-earnings-growth ratio of 2.51 and a beta of 1.50.

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

Analyst Ratings Changes

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

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.