TimesSquare Capital Management LLC Invests $50.04 Million in Trimble Inc. (NASDAQ:TRMB)

TimesSquare Capital Management LLC purchased a new stake in Trimble Inc. (NASDAQ:TRMB) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 708,200 shares of the scientific and technical instruments company’s stock, valued at approximately $50,041,000. TimesSquare Capital Management LLC owned approximately 0.29% of Trimble at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. SYM FINANCIAL Corp raised its holdings in Trimble by 4.4% in the fourth quarter. SYM FINANCIAL Corp now owns 4,099 shares of the scientific and technical instruments company’s stock valued at $290,000 after acquiring an additional 172 shares in the last quarter. Apollon Wealth Management LLC raised its holdings in Trimble by 5.5% in the fourth quarter. Apollon Wealth Management LLC now owns 3,577 shares of the scientific and technical instruments company’s stock valued at $253,000 after acquiring an additional 188 shares in the last quarter. Farrow Financial Inc. raised its holdings in Trimble by 0.5% in the third quarter. Farrow Financial Inc. now owns 39,062 shares of the scientific and technical instruments company’s stock valued at $2,425,000 after acquiring an additional 192 shares in the last quarter. Empowered Funds LLC raised its holdings in Trimble by 3.4% in the third quarter. Empowered Funds LLC now owns 5,802 shares of the scientific and technical instruments company’s stock valued at $360,000 after acquiring an additional 193 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in Trimble by 5.8% in the third quarter. Sequoia Financial Advisors LLC now owns 3,981 shares of the scientific and technical instruments company’s stock valued at $247,000 after acquiring an additional 219 shares in the last quarter. 93.21% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TRMB. Oppenheimer upped their price target on shares of Trimble from $77.00 to $88.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. upgraded shares of Trimble from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $74.00 to $92.00 in a research note on Wednesday, December 4th. Robert W. Baird boosted their target price on shares of Trimble from $82.00 to $90.00 and gave the company an “outperform” rating in a research note on Wednesday, December 11th. Piper Sandler reiterated an “overweight” rating and set a $84.00 target price on shares of Trimble in a research note on Wednesday, December 11th. Finally, StockNews.com upgraded shares of Trimble from a “hold” rating to a “buy” rating in a research note on Thursday, December 12th. Eight analysts have rated the stock with a buy rating, Based on data from MarketBeat, Trimble presently has an average rating of “Buy” and an average price target of $84.86.

Trimble Stock Up 1.1 %

Trimble stock opened at $75.14 on Wednesday. The company has a 50-day simple moving average of $73.34 and a 200-day simple moving average of $66.01. The firm has a market capitalization of $18.47 billion, a P/E ratio of 12.57, a P/E/G ratio of 3.10 and a beta of 1.53. The company has a debt-to-equity ratio of 0.24, a quick ratio of 1.07 and a current ratio of 1.16. Trimble Inc. has a one year low of $48.65 and a one year high of $77.78.

Insider Transactions at Trimble

In other news, VP Jennifer Allison sold 3,571 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $74.75, for a total transaction of $266,932.25. Following the completion of the transaction, the vice president now owns 3,157 shares in the company, valued at approximately $235,985.75. This represents a 53.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.47% 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.