Envestnet Portfolio Solutions Inc. Grows Stock Holdings in Trimble Inc. (NASDAQ:TRMB)

Envestnet Portfolio Solutions Inc. lifted its holdings in Trimble Inc. (NASDAQ:TRMB) by 59.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,378 shares of the scientific and technical instruments company’s stock after buying an additional 2,009 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Trimble were worth $380,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Cullen Frost Bankers Inc. increased its stake in Trimble by 0.6% during the fourth quarter. Cullen Frost Bankers Inc. now owns 22,969 shares of the scientific and technical instruments company’s stock worth $1,623,000 after acquiring an additional 141 shares during the last quarter. Essex Investment Management Co. LLC boosted its holdings in shares of Trimble by 0.5% in the 4th quarter. Essex Investment Management Co. LLC now owns 28,546 shares of the scientific and technical instruments company’s stock worth $2,017,000 after purchasing an additional 141 shares during the period. SRS Capital Advisors Inc. increased its position in shares of Trimble by 12.7% during the 4th quarter. SRS Capital Advisors Inc. now owns 1,322 shares of the scientific and technical instruments company’s stock valued at $93,000 after purchasing an additional 149 shares during the last quarter. M&T Bank Corp lifted its position in Trimble by 1.6% in the fourth quarter. M&T Bank Corp now owns 10,155 shares of the scientific and technical instruments company’s stock worth $717,000 after buying an additional 156 shares during the last quarter. Finally, SYM FINANCIAL Corp boosted its stake in Trimble by 4.4% during the fourth quarter. SYM FINANCIAL Corp now owns 4,099 shares of the scientific and technical instruments company’s stock worth $290,000 after buying an additional 172 shares during the period. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Trimble news, VP Jennifer Allison sold 3,571 shares of the stock in a transaction on Friday, January 17th. The stock was sold at an average price of $74.75, for a total transaction of $266,932.25. Following the sale, the vice president now owns 3,157 shares of the company’s stock, valued at approximately $235,985.75. This trade represents a 53.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director James Calvin Dalton sold 2,141 shares of the business’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $71.79, for a total value of $153,702.39. Following the completion of the transaction, the director now directly owns 10,162 shares of the company’s stock, valued at approximately $729,529.98. The trade was a 17.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 11,421 shares of company stock worth $831,683 in the last three months. Corporate insiders own 0.47% of the company’s stock.

Trimble Price Performance

TRMB opened at $68.94 on Thursday. The company has a market capitalization of $16.94 billion, a price-to-earnings ratio of 11.32, a PEG ratio of 3.09 and a beta of 1.57. The company has a current ratio of 1.27, a quick ratio of 1.07 and a debt-to-equity ratio of 0.24. Trimble Inc. has a 12-month low of $48.65 and a 12-month high of $77.78. The business’s fifty day simple moving average is $72.46 and its 200-day simple moving average is $68.76.

Analysts Set New Price Targets

Several brokerages have recently weighed in on TRMB. JPMorgan Chase & Co. upgraded shares of Trimble from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $74.00 to $92.00 in a report on Wednesday, December 4th. Robert W. Baird raised their price objective on shares of Trimble from $82.00 to $90.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 11th. Sanford C. Bernstein upped their target price on Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Piper Sandler reissued an “overweight” rating and set a $84.00 price target on shares of Trimble in a research note on Wednesday, December 11th. Finally, Cfra raised Trimble from a “buy” rating to a “strong-buy” rating and set a $92.00 price objective on the stock in a research report on Thursday, February 20th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Trimble currently has a consensus rating of “Buy” and a consensus price target of $86.00.

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.