Yahoo Finance Trimble (TRMB) Enhances Fleet Manager With Dwell Time Metric
Trimble TRMB continues to make strong efforts toward strengthening its transportation segment on the back of advanced features. This is evident from its latest move of upgrading Trimble Fleet Manager with the dwell time metrics feature.
With industry-specific average dwell time metrics, the company strives to provide precise commercial location data, and aid fleets in making decisions and utilizing their assets and drivers more efficiently.
Further, the dwell time data, available through Trimble's Connected Locations workflow, will provide fleet managers with actionable information to improve trip management.
Hence, the solution is likely to drive the company’s momentum across fleet managers.
Trimble Inc. Price and Consensus
Trimble Inc. price-consensus-chart | Trimble Inc. Quote
Transportation Segment in Focus
The latest move has added strength to the company’s transportation segment offerings. This in turn is likely to contribute to the performance of the segment in the days ahead.
In the fourth quarter of 2022, the segment generated revenues of $150 million, which accounted for 17% of total revenues.
We believe its efforts to strengthen the Transportation segment will contribute well to the company’s overall performance. This will aid the company in winning investors’ confidence.
For 2023, Trimble expects revenues between $3.7 billion and $3.8 billion. The Zacks Consensus Estimate for the same is pegged at $3.75 billion, indicating growth of 2.1% from 2022.
Coming to the price performance, TRMB has plunged 29.7% in the past year compared with the industry’s decline of 14%.
Expanding Portfolio
The latest move is in sync with Trimble’s growing efforts toward expanding its overall product portfolio.
Apart from the latest move, Trimble recently introduced Tekla Structures 2023, Tekla Structural Designer 2023, Tekla Tedds 2023, and Tekla PowerFab 2023, which added strength to the company’s Tekla software.
Furthermore, it also presented the Trimble SPS986 or Trimble R780 GNSS Smart Antenna-based Siteworks Machine Guidance system in order to develop its Siteworks software.
Additionally, TRMB enhanced its Engage Lane dynamic contract procurement solution, which provides dwell time metrics for better and more informed product procurement decisions.
Moreover, Trimble introduced advanced path planning technology, which is designed to boost the efficiency of work by aiding the optimization and automation of the trajectory, speed and overall path design of industrial equipment.
We believe Trimble’s growing efforts toward strengthening its portfolio offerings are likely to aid its presence across various end-markets.
Zacks Rank and Stocks to Consider
Currently, Trimble carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector are Arista Networks ANET, Salesforce CRM and Analog Devices ADI. While Arista Networks and Salesforce sport a Zacks Rank #1 (Strong Buy), Analog Devices carries a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Arista Networks shares have risen 17.6% in the past year. The long-term earnings growth rate for ANET is currently projected at 14.17%.
Salesforce shares have declined 8.7% in the past year. CRM’s long-term earnings growth rate is currently projected at 16.75%.
Analog Devices shares have risen 19.9% in the past year. The long-term earnings growth rate for ADI is currently projected at 10.5%.
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