Trimble Inc. $TRMB Position Lessened by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. trimmed its position in shares of Trimble Inc. (NASDAQ:TRMB) by 4.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,725 shares of the scientific and technical instruments company’s stock after selling 157 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Trimble were worth $283,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Sequoia Financial Advisors LLC raised its holdings in Trimble by 140.9% during the second quarter. Sequoia Financial Advisors LLC now owns 9,277 shares of the scientific and technical instruments company’s stock valued at $705,000 after buying an additional 5,426 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Trimble by 65.9% during the second quarter. Allspring Global Investments Holdings LLC now owns 70,854 shares of the scientific and technical instruments company’s stock valued at $5,417,000 after buying an additional 28,135 shares in the last quarter. CWM LLC raised its holdings in Trimble by 16.8% during the second quarter. CWM LLC now owns 46,732 shares of the scientific and technical instruments company’s stock valued at $3,551,000 after buying an additional 6,724 shares in the last quarter. Board of the Pension Protection Fund bought a new position in Trimble during the second quarter valued at about $1,634,000. Finally, Vanguard Personalized Indexing Management LLC raised its holdings in Trimble by 40.0% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 34,048 shares of the scientific and technical instruments company’s stock valued at $2,587,000 after buying an additional 9,728 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CEO Robert G. Painter sold 7,500 shares of Trimble stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $75.65, for a total transaction of $567,375.00. Following the sale, the chief executive officer directly owned 92,379 shares of the company’s stock, valued at $6,988,471.35. This trade represents a 7.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James Calvin Dalton sold 609 shares of Trimble stock in a transaction dated Thursday, August 28th. The stock was sold at an average price of $82.41, for a total value of $50,187.69. Following the sale, the director directly owned 13,809 shares in the company, valued at approximately $1,137,999.69. This trade represents a 4.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 224,321 shares of company stock valued at $18,677,518 over the last three months. 0.54% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Weiss Ratings restated a “hold (c)” rating on shares of Trimble in a report on Wednesday, October 8th. Berenberg Bank set a $95.00 price target on Trimble and gave the company a “buy” rating in a research report on Friday, October 3rd. Wall Street Zen raised Trimble from a “hold” rating to a “buy” rating in a research report on Saturday, August 9th. Barclays initiated coverage on Trimble in a research report on Tuesday, October 7th. They issued an “overweight” rating and a $100.00 price target on the stock. Finally, Oppenheimer raised their price target on Trimble from $88.00 to $94.00 and gave the company an “outperform” rating in a research report on Thursday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $92.10.

Trimble Trading Up 2.0%

Shares of NASDAQ:TRMB opened at $80.70 on Friday. Trimble Inc. has a 52-week low of $52.91 and a 52-week high of $87.50. The company has a market cap of $19.20 billion, a P/E ratio of 69.57, a P/E/G ratio of 3.25 and a beta of 1.65. The stock’s 50-day moving average is $80.37 and its 200-day moving average is $75.18. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.81 and a current ratio of 0.94.

Trimble (NASDAQ:TRMB) last released its earnings results on Friday, April 12th. The scientific and technical instruments company reported $0.60 earnings per share for the quarter. Trimble had a return on equity of 10.24% and a net margin of 8.02%.The business had revenue of $856.50 million for the quarter. Equities research analysts predict 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.