Neuberger Berman Group LLC Sells 1,155,111 Shares of Trimble Inc (NASDAQ:TRMB)

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Neuberger Berman Group LLC cut its position in Trimble Inc (NASDAQ:TRMB) by 43.6% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,495,100 shares of the scientific and technical instruments company’s stock after selling 1,155,111 shares during the quarter. Neuberger Berman Group LLC’s holdings in Trimble were worth $60,402,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. JOYN Advisors Inc. increased its stake in Trimble by 164.5% during the 4th quarter. JOYN Advisors Inc. now owns 902 shares of the scientific and technical instruments company’s stock valued at $30,000 after buying an additional 561 shares during the period. Lake Point Wealth Management acquired a new position in Trimble during the 4th quarter valued at about $31,000. Liberty Wealth Management LLC acquired a new position in Trimble during the 4th quarter valued at about $36,000. Cornerstone Advisors Inc. increased its stake in Trimble by 34.9% during the 1st quarter. Cornerstone Advisors Inc. now owns 997 shares of the scientific and technical instruments company’s stock valued at $40,000 after buying an additional 258 shares during the period. Finally, Captrust Financial Advisors increased its stake in Trimble by 152.3% during the 4th quarter. Captrust Financial Advisors now owns 1,882 shares of the scientific and technical instruments company’s stock valued at $62,000 after buying an additional 1,136 shares during the period. Hedge funds and other institutional investors own 92.11% of the company’s stock.

In other Trimble news, insider James A. Kirkland sold 5,430 shares of the firm’s stock in a transaction dated Thursday, May 16th. The shares were sold at an average price of $41.10, for a total value of $223,173.00. Following the completion of the transaction, the insider now directly owns 39,939 shares in the company, valued at $1,641,492.90. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Steven W. Berglund sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $42.15, for a total transaction of $4,215,000.00. Following the completion of the transaction, the chief executive officer now owns 354,144 shares of the company’s stock, valued at $14,927,169.60. The disclosure for this sale can be found here. Insiders sold a total of 156,884 shares of company stock worth $6,541,953 in the last ninety days. Corporate insiders own 0.39% of the company’s stock.

Several equities analysts have commented on the stock. ValuEngine raised shares of Trimble from a “hold” rating to a “buy” rating in a research note on Tuesday. BidaskClub raised shares of Trimble from a “hold” rating to a “buy” rating in a research note on Wednesday, May 8th. Finally, Zacks Investment Research cut shares of Trimble from a “buy” rating to a “hold” rating in a research note on Wednesday, May 8th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $44.33.

Shares of TRMB traded down $0.45 during mid-day trading on Wednesday, hitting $42.72. The company’s stock had a trading volume of 438,762 shares, compared to its average volume of 1,042,453. The stock has a market capitalization of $10.81 billion, a P/E ratio of 25.28, a P/E/G ratio of 2.20 and a beta of 2.02. The company has a debt-to-equity ratio of 0.60, a current ratio of 1.05 and a quick ratio of 0.77. Trimble Inc has a fifty-two week low of $29.75 and a fifty-two week high of $44.55.

Trimble (NASDAQ:TRMB) last announced its quarterly earnings data on Wednesday, May 1st. The scientific and technical instruments company reported $0.40 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.40. The company had revenue of $804.50 million for the quarter, compared to analysts’ expectations of $808.58 million. Trimble had a net margin of 9.05% and a return on equity of 16.15%. The business’s revenue was up 8.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS. As a group, equities research analysts forecast that Trimble Inc will post 1.84 EPS for the current fiscal year.

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About Trimble

Trimble Inc provides technology solutions that enable professionals and field mobile workers to enhance or transform their work processes worldwide. The company operates in four segments: Buildings and Infrastructure, Geospatial, Resources and Utilities, and Transportation. The Buildings and Infrastructure segment offers field and office software for route selection and design; systems to guide and control construction equipment; systems to monitor, track, and manage assets, equipment, and workers; software to share and communicate data; 3D conceptual design and modeling software; building information modeling software; integrated site layout and measurement systems; applications for sub-contractors and trades; and integrated workplace management services software.

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Institutional Ownership by Quarter for Trimble (NASDAQ:TRMB)

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