Envestnet Portfolio Solutions Inc. Boosts Holdings in Trimble Inc. (NASDAQ:TRMB)

Envestnet Portfolio Solutions Inc. grew its holdings in shares of Trimble Inc. (NASDAQ:TRMB) by 59.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,378 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,009 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Trimble were worth $380,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Rialto Wealth Management LLC acquired a new stake in shares of Trimble during the fourth quarter worth $35,000. SBI Securities Co. Ltd. acquired a new stake in Trimble during the 4th quarter worth about $36,000. TD Private Client Wealth LLC grew its stake in Trimble by 722.2% during the 3rd quarter. TD Private Client Wealth LLC now owns 592 shares of the scientific and technical instruments company’s stock valued at $37,000 after purchasing an additional 520 shares during the last quarter. Larson Financial Group LLC raised its stake in shares of Trimble by 164.8% in the fourth quarter. Larson Financial Group LLC now owns 678 shares of the scientific and technical instruments company’s stock worth $48,000 after purchasing an additional 422 shares during the last quarter. Finally, Friedenthal Financial acquired a new stake in shares of Trimble during the fourth quarter worth about $49,000. 93.21% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Trimble

In other Trimble news, VP Jennifer Allison sold 3,571 shares of the stock in a transaction that occurred on Friday, January 17th. The shares were sold at an average price of $74.75, for a total value of $266,932.25. Following the transaction, the vice president now directly owns 3,157 shares in the company, valued at $235,985.75. This represents a 53.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director James Calvin Dalton sold 2,141 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $71.79, for a total transaction of $153,702.39. Following the sale, the director now owns 10,162 shares of the company’s stock, valued at $729,529.98. This represents a 17.40 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,421 shares of company stock valued at $831,683. Corporate insiders own 0.47% of the company’s stock.

Trimble Stock Down 2.2 %

Trimble stock opened at $68.94 on Thursday. The stock’s fifty day moving average is $72.46 and its two-hundred day moving average is $68.76. The stock has a market cap of $16.94 billion, a PE ratio of 11.32, a P/E/G ratio of 3.09 and a beta of 1.57. Trimble Inc. has a 1-year low of $48.65 and a 1-year high of $77.78. The company has a debt-to-equity ratio of 0.24, a current ratio of 1.27 and a quick ratio of 1.07.

Analysts Set New Price Targets

A number of equities analysts have issued reports on TRMB shares. Wolfe Research raised shares of Trimble from a “peer perform” rating to an “outperform” rating and set a $90.00 price target for the company in a research report on Monday, December 16th. Oppenheimer raised their target price on shares of Trimble from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Thursday, February 20th. StockNews.com lowered shares of Trimble from a “strong-buy” rating to a “buy” rating in a report on Monday, March 3rd. Sanford C. Bernstein boosted their price objective on Trimble from $82.00 to $85.00 and gave the company an “outperform” rating in a report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. raised Trimble from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $74.00 to $92.00 in a report on Wednesday, December 4th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $86.00.

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.