Mizuho Securities USA LLC Buys 68,005 Shares of Trimble Inc. (NASDAQ:TRMB)

Mizuho Securities USA LLC lifted its stake in shares of Trimble Inc. (NASDAQ:TRMB) by 361.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 86,836 shares of the scientific and technical instruments company’s stock after acquiring an additional 68,005 shares during the period. Mizuho Securities USA LLC’s holdings in Trimble were worth $5,392,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Envestnet Portfolio Solutions Inc. bought a new stake in Trimble in the 1st quarter valued at approximately $215,000. Empowered Funds LLC lifted its position in shares of Trimble by 15.1% in the first quarter. Empowered Funds LLC now owns 5,145 shares of the scientific and technical instruments company’s stock worth $331,000 after purchasing an additional 675 shares in the last quarter. M&G Plc acquired a new position in Trimble during the first quarter worth $1,255,000. Trustmark National Bank Trust Department bought a new position in Trimble in the first quarter valued at $579,000. Finally, O Shaughnessy Asset Management LLC bought a new stake in Trimble during the 1st quarter worth about $354,000. 93.21% of the stock is currently owned by institutional investors and hedge funds.

Trimble Price Performance

Shares of TRMB opened at $70.62 on Monday. The company has a quick ratio of 1.07, a current ratio of 1.16 and a debt-to-equity ratio of 0.24. The stock has a market cap of $17.25 billion, a PE ratio of 11.81, a PEG ratio of 3.02 and a beta of 1.49. Trimble Inc. has a 12-month low of $42.56 and a 12-month high of $74.22. The business has a 50-day simple moving average of $62.12 and a two-hundred day simple moving average of $57.89.

Analysts Set New Price Targets

A number of analysts recently issued reports on TRMB shares. StockNews.com raised Trimble from a “hold” rating to a “buy” rating in a research report on Sunday. Oppenheimer reiterated an “outperform” rating and set a $72.00 price objective on shares of Trimble in a research note on Wednesday, August 7th. JPMorgan Chase & Co. boosted their target price on shares of Trimble from $66.00 to $74.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Robert W. Baird increased their price target on shares of Trimble from $66.00 to $82.00 and gave the company an “outperform” rating in a research note on Friday, November 8th. Finally, Piper Sandler lifted their price objective on shares of Trimble from $73.00 to $84.00 and gave the company an “overweight” rating in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $75.40.

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.