M&G Plc Makes New Investment in Trimble Inc. (NASDAQ:TRMB)

M&G Plc bought a new position in shares of Trimble Inc. (NASDAQ:TRMB) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 19,611 shares of the scientific and technical instruments company’s stock, valued at approximately $1,255,000.

Other institutional investors have also recently made changes to their positions in the company. Trillium Asset Management LLC raised its position in shares of Trimble by 7.1% in the first quarter. Trillium Asset Management LLC now owns 113,385 shares of the scientific and technical instruments company’s stock worth $7,298,000 after buying an additional 7,502 shares in the last quarter. Wilkins Investment Counsel Inc. increased its stake in Trimble by 21.5% in the first quarter. Wilkins Investment Counsel Inc. now owns 96,050 shares of the scientific and technical instruments company’s stock valued at $6,182,000 after acquiring an additional 17,015 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Trimble by 25.6% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 296,093 shares of the scientific and technical instruments company’s stock valued at $19,057,000 after acquiring an additional 60,409 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in Trimble by 8.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 319,597 shares of the scientific and technical instruments company’s stock valued at $20,569,000 after acquiring an additional 25,001 shares during the last quarter. Finally, Inspire Investing LLC increased its stake in Trimble by 257.4% in the first quarter. Inspire Investing LLC now owns 34,672 shares of the scientific and technical instruments company’s stock valued at $2,232,000 after acquiring an additional 24,970 shares during the last quarter. Hedge funds and other institutional investors own 93.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on TRMB. JPMorgan Chase & Co. increased their target price on Trimble from $57.00 to $67.00 and gave the company a “neutral” rating in a research note on Wednesday, May 1st. Piper Sandler reaffirmed an “overweight” rating and set a $73.00 price objective on shares of Trimble in a research note on Monday, May 6th. Oppenheimer reaffirmed an “outperform” rating and set a $72.00 price objective on shares of Trimble in a research note on Monday, May 6th. Finally, Raymond James reaffirmed an “outperform” rating and set a $65.00 price objective on shares of Trimble in a research note on Wednesday, May 15th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, Trimble presently has an average rating of “Moderate Buy” and an average target price of $66.67.

Trimble Stock Down 2.3 %

TRMB traded down $1.29 on Friday, hitting $55.98. The company had a trading volume of 845,173 shares, compared to its average volume of 1,014,737. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.00 and a quick ratio of 0.88. Trimble Inc. has a 52-week low of $39.57 and a 52-week high of $65.55. The stock has a fifty day simple moving average of $56.12 and a 200-day simple moving average of $57.30. The firm has a market capitalization of $13.67 billion, a P/E ratio of 58.31, a P/E/G ratio of 2.54 and a beta of 1.50.

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

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.