Holocene Advisors LP Grows Stock Position in Trimble Inc. (NASDAQ:TRMB)

Holocene Advisors LP raised its position in Trimble Inc. (NASDAQ:TRMB - Free Report) by 157.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 151,040 shares of the scientific and technical instruments company's stock after acquiring an additional 92,373 shares during the quarter. Holocene Advisors LP owned approximately 0.06% of Trimble worth $9,378,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in TRMB. Principal Financial Group Inc. increased its holdings in shares of Trimble by 18.4% in the 3rd quarter. Principal Financial Group Inc. now owns 391,310 shares of the scientific and technical instruments company's stock valued at $24,296,000 after acquiring an additional 60,752 shares during the period. Magnetar Financial LLC acquired a new position in shares of Trimble in the 2nd quarter valued at $1,752,000. Raymond James & Associates increased its holdings in shares of Trimble by 27.9% in the 2nd quarter. Raymond James & Associates now owns 164,488 shares of the scientific and technical instruments company's stock valued at $9,198,000 after acquiring an additional 35,841 shares during the period. Victory Capital Management Inc. increased its stake in Trimble by 41.4% in the 3rd quarter. Victory Capital Management Inc. now owns 5,442,653 shares of the scientific and technical instruments company's stock valued at $337,934,000 after buying an additional 1,594,732 shares during the period. Finally, National Pension Service increased its stake in Trimble by 13,597.7% in the 3rd quarter. National Pension Service now owns 23,971 shares of the scientific and technical instruments company's stock valued at $1,488,000 after buying an additional 23,796 shares during the period. Hedge funds and other institutional investors own 93.21% of the company's stock.

Trimble Price Performance

Shares of NASDAQ TRMB traded up $1.33 during trading on Wednesday, hitting $75.28. 2,152,519 shares of the company were exchanged, compared to its average volume of 1,343,275. Trimble Inc. has a 1 year low of $45.61 and a 1 year high of $76.97. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.16 and a quick ratio of 1.07. The firm's fifty day moving average price is $65.65 and its 200 day moving average price is $59.15. The company has a market cap of $18.38 billion, a price-to-earnings ratio of 12.51, a PEG ratio of 3.13 and a beta of 1.53.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on TRMB shares. Piper Sandler boosted their price objective on shares of Trimble from $73.00 to $84.00 and gave the company an "overweight" rating in a research note on Thursday, November 7th. StockNews.com cut shares of Trimble from a "buy" rating to a "hold" rating in a research note on Tuesday. JPMorgan Chase & Co. raised shares of Trimble from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $74.00 to $92.00 in a research note on Wednesday. Oppenheimer reissued an "outperform" rating and issued a $72.00 price objective on shares of Trimble in a research note on Wednesday, August 7th. Finally, Robert W. Baird boosted their target price on shares of Trimble from $66.00 to $82.00 and gave the stock an "outperform" rating in a research report on Friday, November 8th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $79.00.

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.