USA Financial Portformulas Corp Has $1.08 Million Stake in Trimble Inc (TRMB)
USA Financial Portformulas Corp boosted its stake in Trimble Inc (NASDAQ:TRMB) by 18.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 26,498 shares of the scientific and technical instruments company’s stock after purchasing an additional 4,115 shares during the period. USA Financial Portformulas Corp’s holdings in Trimble were worth $1,077,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of TRMB. Cerebellum GP LLC acquired a new stake in Trimble in the 4th quarter valued at approximately $125,000. Advisory Services Network LLC increased its holdings in Trimble by 3,428.1% in the 4th quarter. Advisory Services Network LLC now owns 3,140 shares of the scientific and technical instruments company’s stock valued at $128,000 after purchasing an additional 3,051 shares during the last quarter. Fieldpoint Private Securities LLC acquired a new stake in Trimble in the 3rd quarter valued at approximately $137,000. Armor Investment Advisors LLC acquired a new stake in Trimble in the 4th quarter valued at approximately $203,000. Finally, Dean Capital Investments Management LLC acquired a new stake in Trimble in the 4th quarter valued at approximately $209,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.
TRMB has been the subject of several research reports. BidaskClub downgraded shares of Trimble from a “strong-buy” rating to a “buy” rating in a report on Thursday, December 7th. Oppenheimer reiterated a “buy” rating and issued a $50.00 target price (up previously from $45.00) on shares of Trimble in a report on Wednesday, January 31st. Zacks Investment Research upgraded shares of Trimble from a “hold” rating to a “buy” rating and set a $45.00 target price for the company in a report on Tuesday, December 26th. Finally, TheStreet downgraded shares of Trimble from a “b” rating to a “c+” rating in a report on Thursday, February 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $42.10.
Trimble (NASDAQ:TRMB) last posted its quarterly earnings results on Thursday, February 8th. The scientific and technical instruments company reported $0.39 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.37 by $0.02. The business had revenue of $708.40 million during the quarter, compared to the consensus estimate of $674.84 million. Trimble had a net margin of 4.56% and a return on equity of 13.37%. The company’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.31 earnings per share. research analysts expect that Trimble Inc will post 1.5 earnings per share for the current fiscal year.
Trimble declared that its board has approved a stock buyback program on Wednesday, November 15th that allows the company to repurchase $600.00 million in shares. This repurchase authorization allows the scientific and technical instruments company to reacquire shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s leadership believes its stock is undervalued.
In other Trimble news, CEO Steven W. Berglund sold 200,000 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $39.25, for a total value of $7,850,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mark S. Peek sold 5,000 shares of the business’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $39.36, for a total transaction of $196,800.00. Following the completion of the transaction, the director now owns 35,000 shares of the company’s stock, valued at approximately $1,377,600. The disclosure for this sale can be found here. In the last 90 days, insiders sold 421,946 shares of company stock valued at $16,654,640. Insiders own 1.40% of the company’s stock.
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Trimble Inc, formerly Trimble Navigation Limited, is engaged in providing technology solutions that enable professionals and field mobile workers to transform their work processes. The Company’s solutions are used across a range of industries, including agriculture, architecture, civil engineering, survey and land administration, construction, geospatial, government, natural resources, transportation and utilities.
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