Lazard Asset Management LLC Has $144.81 Million Holdings in Trimble Inc. $TRMB

Lazard Asset Management LLC increased its holdings in Trimble Inc. (NASDAQ:TRMB) by 1.5% in the second quarter, Holdings Channel reports. The institutional investor owned 1,905,873 shares of the scientific and technical instruments company’s stock after buying an additional 28,448 shares during the period. Lazard Asset Management LLC’s holdings in Trimble were worth $144,807,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in TRMB. Peapack Gladstone Financial Corp increased its stake in Trimble by 2.6% during the 2nd quarter. Peapack Gladstone Financial Corp now owns 5,008 shares of the scientific and technical instruments company’s stock worth $381,000 after acquiring an additional 125 shares during the period. MAI Capital Management grew its holdings in shares of Trimble by 4.7% during the 2nd quarter. MAI Capital Management now owns 2,810 shares of the scientific and technical instruments company’s stock worth $213,000 after purchasing an additional 126 shares in the last quarter. Parkside Financial Bank & Trust increased its position in shares of Trimble by 18.4% in the second quarter. Parkside Financial Bank & Trust now owns 907 shares of the scientific and technical instruments company’s stock worth $69,000 after purchasing an additional 141 shares during the period. Balboa Wealth Partners raised its stake in 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 in the last quarter. Finally, First Horizon Advisors Inc. raised its stake in Trimble by 11.7% in the second quarter. First Horizon Advisors Inc. now owns 1,515 shares of the scientific and technical instruments company’s stock valued at $115,000 after purchasing an additional 159 shares in the last quarter. 93.21% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Piper Sandler reissued an “overweight” rating and issued a $97.00 target price on shares of Trimble in a report on Friday, November 7th. Berenberg Bank set a $95.00 target price on Trimble and gave the stock a “buy” rating in a research note on Friday, October 3rd. Wells Fargo & Company assumed coverage on Trimble in a report on Thursday, November 13th. They set an “overweight” rating and a $94.00 price target for the company. Weiss Ratings restated a “hold (c)” rating on shares of Trimble in a research report on Wednesday, October 8th. Finally, Oppenheimer reiterated an “outperform” rating and issued a $102.00 target price on shares of Trimble in a research report on Thursday, November 6th. Three research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $95.67.

Trimble Trading Down 3.7%

NASDAQ TRMB opened at $80.26 on Friday. The company has a market cap of $19.10 billion, a price-to-earnings ratio of 54.97, a price-to-earnings-growth ratio of 3.26 and a beta of 1.60. Trimble Inc. has a twelve month low of $52.91 and a twelve month high of $87.50. The company has a quick ratio of 0.86, a current ratio of 1.00 and a debt-to-equity ratio of 0.24. The business’s fifty day moving average is $79.60 and its 200 day moving average is $79.26.

Trimble (NASDAQ:TRMB) last posted its earnings results on Friday, April 12th. The scientific and technical instruments company reported $0.60 EPS for the quarter. The firm had revenue of $856.50 million during the quarter. Trimble had a return on equity of 10.73% and a net margin of 9.93%. As a group, sell-side analysts expect that Trimble Inc. will post 2.37 EPS for the current fiscal year.

Trimble announced that its board has approved a share repurchase plan on Friday, December 5th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the scientific and technical instruments company to buy up to 5.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Insider Buying and Selling at Trimble

In other Trimble news, Director Kaigham Gabriel sold 1,718 shares of the business’s stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $81.00, for a total transaction of $139,158.00. Following the sale, the director directly owned 15,170 shares of the company’s stock, valued at $1,228,770. The trade was a 10.17% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director James Calvin Dalton sold 616 shares of the firm’s stock in a transaction on Friday, November 28th. The shares were sold at an average price of $81.99, for a total transaction of $50,505.84. Following the transaction, the director directly owned 13,193 shares of the company’s stock, valued at $1,081,694.07. The trade was a 4.46% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 32,199 shares of company stock valued at $2,565,729 in the last quarter. 0.54% of the stock is currently owned by corporate insiders.

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.