TimesSquare Capital Management LLC Buys Shares of 708,200 Trimble Inc. (NASDAQ:TRMB)

TimesSquare Capital Management LLC purchased a new stake in Trimble Inc. (NASDAQ:TRMB - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 708,200 shares of the scientific and technical instruments company's stock, valued at approximately $50,041,000. TimesSquare Capital Management LLC owned about 0.29% of Trimble at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TRMB. Victory Capital Management Inc. lifted its position in Trimble by 41.4% in the third 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 acquiring an additional 1,594,732 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in Trimble by 49.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 2,056,558 shares of the scientific and technical instruments company's stock valued at $127,692,000 after acquiring an additional 676,954 shares during the last quarter. Impax Asset Management Group plc lifted its position in Trimble by 18.7% in the third quarter. Impax Asset Management Group plc now owns 2,755,576 shares of the scientific and technical instruments company's stock valued at $169,978,000 after acquiring an additional 434,065 shares during the last quarter. Sora Investors LLC purchased a new stake in Trimble in the third quarter valued at $22,663,000. Finally, Assenagon Asset Management S.A. increased its stake in Trimble by 132.0% in the third quarter. Assenagon Asset Management S.A. now owns 521,774 shares of the scientific and technical instruments company's stock valued at $32,397,000 after purchasing an additional 296,893 shares during the period. 93.21% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Jennifer Allison sold 3,571 shares of the 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 directly owns 3,157 shares of the company's stock, valued at $235,985.75. This represents a 53.08 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.47% of the stock is currently owned by corporate insiders.

Trimble Stock Performance

NASDAQ TRMB traded down $1.74 during trading hours on Friday, hitting $71.47. 1,852,430 shares of the stock were exchanged, compared to its average volume of 1,347,057. The company has a market cap of $17.57 billion, a price-to-earnings ratio of 11.74, a price-to-earnings-growth ratio of 3.17 and a beta of 1.53. Trimble Inc. has a 12-month low of $48.65 and a 12-month high of $77.78. The stock has a 50-day moving average of $73.30 and a 200 day moving average of $66.28. The company has a quick ratio of 1.07, a current ratio of 1.27 and a debt-to-equity ratio of 0.24.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on TRMB. Sanford C. Bernstein upped their target price on shares of Trimble from $82.00 to $85.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. Robert W. Baird upped their target price on shares of Trimble from $82.00 to $90.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. Cfra raised shares of Trimble from a "buy" rating to a "strong-buy" rating and set a $92.00 target price for the company in a report on Thursday. Oppenheimer upped their target price on shares of Trimble from $88.00 to $90.00 and gave the company an "outperform" rating in a report on Thursday. Finally, JPMorgan Chase & Co. raised shares of Trimble from a "neutral" rating to an "overweight" rating and upped their target price for the company from $74.00 to $92.00 in a report on Wednesday, December 4th. Seven equities research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $86.00.

Trimble Company 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.