Envestnet Portfolio Solutions Inc. Sells 157 Shares of Trimble Inc. $TRMB

Envestnet Portfolio Solutions Inc. decreased its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 4.0% in the second quarter, Holdings Channel reports. The firm owned 3,725 shares of the scientific and technical instruments company’s stock after selling 157 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Trimble were worth $283,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Flaharty Asset Management LLC bought a new position in Trimble during the first quarter worth about $45,000. Ameritas Advisory Services LLC bought a new position in Trimble during the second quarter worth about $48,000. Steph & Co. lifted its stake in Trimble by 592.0% during the second quarter. Steph & Co. now owns 692 shares of the scientific and technical instruments company’s stock worth $53,000 after purchasing an additional 592 shares during the period. State of Wyoming bought a new position in Trimble during the first quarter worth about $58,000. Finally, Brooklyn Investment Group lifted its stake in Trimble by 440.5% during the first quarter. Brooklyn Investment Group now owns 1,162 shares of the scientific and technical instruments company’s stock worth $76,000 after purchasing an additional 947 shares during the period. Institutional investors own 93.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Oppenheimer lifted their target price on shares of Trimble from $88.00 to $94.00 and gave the company an “outperform” rating in a research note on Thursday, August 7th. JPMorgan Chase & Co. lifted their target price on shares of Trimble from $96.00 to $98.00 and gave the company an “overweight” rating in a research note on Friday, September 19th. Berenberg Bank set a $95.00 target price on shares of Trimble and gave the company a “buy” rating in a research note on Friday, October 3rd. Raymond James Financial reiterated an “outperform” rating and issued a $93.00 target price (up previously from $85.00) on shares of Trimble in a research note on Thursday, August 7th. Finally, Barclays began coverage on shares of Trimble in a research note on Tuesday, October 7th. They issued an “overweight” rating and a $100.00 target price for the company. Two research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $92.10.

Trimble Price Performance

Shares of TRMB stock opened at $80.70 on Friday. Trimble Inc. has a 12-month low of $52.91 and a 12-month high of $87.50. The firm has a market capitalization of $19.20 billion, a price-to-earnings ratio of 69.57, a price-to-earnings-growth ratio of 3.25 and a beta of 1.65. The company has a quick ratio of 0.81, a current ratio of 0.94 and a debt-to-equity ratio of 0.25. The firm has a fifty day moving average of $80.37 and a 200-day moving average of $75.18.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings results on Friday, April 12th. The scientific and technical instruments company reported $0.60 earnings per share (EPS) for the quarter. Trimble had a net margin of 8.02% and a return on equity of 10.24%. The company had revenue of $856.50 million during the quarter. On average, equities research analysts forecast that Trimble Inc. will post 2.37 earnings per share for the current year.

Insider Activity

In other news, VP Christopher F. Keating sold 7,365 shares of the business’s stock in a transaction on Thursday, September 18th. The shares were sold at an average price of $81.74, for a total value of $602,015.10. Following the completion of the transaction, the vice president owned 406 shares of the company’s stock, valued at $33,186.44. The trade was a 94.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Robert G. Painter sold 115,781 shares of the company’s stock in a transaction on Monday, August 11th. The stock was sold at an average price of $82.83, for a total transaction of $9,590,140.23. Following the completion of the transaction, the chief executive officer directly owned 114,879 shares of the company’s stock, valued at approximately $9,515,427.57. The trade was a 50.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 224,321 shares of company stock valued at $18,677,518 in the last quarter. Company insiders own 0.54% of the company’s stock.

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.