M&G Plc Reduces Holdings in Trimble Inc. (NASDAQ:TRMB)

M&G Plc reduced its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 34.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 12,786 shares of the scientific and technical instruments company’s stock after selling 6,825 shares during the quarter. M&G Plc’s holdings in Trimble were worth $716,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Frazier Financial Advisors LLC acquired a new stake in shares of Trimble during the 4th quarter worth about $26,000. Tobam acquired a new stake in shares of Trimble in the first quarter worth approximately $35,000. Principal Securities Inc. acquired a new stake in shares of Trimble in the fourth quarter worth approximately $52,000. Sound Income Strategies LLC boosted its position in shares of Trimble by 171.9% in the first 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 during the last quarter. Finally, Criterion Capital Advisors LLC acquired a new stake in shares of Trimble in the fourth quarter worth approximately $67,000. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Trimble Stock Performance

TRMB stock opened at $52.64 on Wednesday. The company has a market capitalization of $12.86 billion, a P/E ratio of 54.83, a PEG ratio of 2.34 and a beta of 1.50. The company has a 50-day simple moving average of $55.06 and a 200 day simple moving average of $57.65. Trimble Inc. has a fifty-two week low of $39.57 and a fifty-two week high of $65.55. The company has a quick ratio of 0.88, a current ratio of 0.99 and a debt-to-equity ratio of 0.25.

Trimble (NASDAQ:TRMB) last posted its quarterly earnings data on Tuesday, August 6th. The scientific and technical instruments company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.04. The business had revenue of $870.80 million during the quarter, compared to the consensus estimate of $862.50 million. Trimble had a net margin of 40.70% and a return on equity of 10.94%. The company’s quarterly revenue was down 12.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.51 earnings per share. Sell-side analysts predict that Trimble Inc. will post 2.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on TRMB. StockNews.com raised shares of Trimble from a “hold” rating to a “buy” rating in a research report on Wednesday, August 7th. Oppenheimer reiterated an “outperform” rating and set a $72.00 price objective on shares of Trimble in a research note on Wednesday, August 7th. JPMorgan Chase & Co. dropped their price target on shares of Trimble from $65.00 to $58.00 and set a “neutral” rating for the company in a research note on Wednesday, August 7th. Robert W. Baird lifted their price target on shares of Trimble from $65.00 to $66.00 and gave the stock an “outperform” rating in a research note on Thursday, August 8th. Finally, Raymond James restated an “outperform” rating and issued a $65.00 price target 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 issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $65.33.

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.