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Trimble's (TRMB) Latest Move Boosts Construction Offerings
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Trimble (TRMB - Free Report) has been continuously putting efforts into strengthening its construction portfolio.
This is evident from the latest introduction of Tekla Structures 2023, Tekla Structural Designer 2023, Tekla Tedds 2023 and Tekla PowerFab 2023 to its Tekla software.
The latest move has added strength to the company’s Tekla software. Trimble strives to deliver automated and connected workflows and enhanced performance of projects with the latest versions of Tekla.
More on the News
Tekla Structures 2023 is a building information modeling software, which is designed to boost advanced detailing for fabrication workflows and project communication to deliver an improved user experience.
Tekla Structural Designer 2023 offers enhanced footfall assessment by improvising design-to-detail workflows with Tekla Structures and strengthening workflows for timber design with Tekla Tedds.
Tekla PowerFab 2023 is a steel fabrication management software suite that offers visual production dashboards, a shipping calendar and raw material origin tracking feature.
Tekla Tedds is a structural design software that delivers enhanced collaborative design-to-detailing workflows by integrating structural design information and documentation with Tekla Structures.
We believe that the introduction of these advanced software is expected to aid the company’s construction business. This, in turn, will likely aid the performance of its Buildings and Infrastructure segment.
In the fourth quarter, the Buildings and Infrastructure segment generated revenues of $350.2 million, which accounted for 41% of total revenues.
The latest move of the company positions it well to capitalize on the growth prospects present in the construction market.
According to a report from Expert Market Research, the global construction market is anticipated to hit $18.6 trillion by 2028 at a CAGR of 6.5% between 2023 and 2028.
A report from Allied Market Research indicates that the global building construction market is likely to reach $11.1 trillion by 2031 at a CAGR of 7.4% between 2022 and 2031.
Per a report from Mordor Intelligence, the global Infrastructure construction market is expected to hit $3.3 trillion by 2027 at a CAGR of 6.5% between 2023 and 2028.
We believe that Trimble’s solid prospects in the promising construction market will likely help it win investors’ confidence in the days ahead.
Coming to the price performance, TRMB has lost 31.1% in the past year against the industry’s rally of 21.3%.
Expanding Portfolio
The latest move is in sync with Trimble’s growing efforts toward expanding its product portfolio.
Apart from the latest launch, Trimble recently introduced the Siteworks Machine Guidance system, which includes Trimble SPS986 or Trimble R780 GNSS Smart Antenna to support Trimble Siteworks software.
Further, the new software module system enables users to shift the system across multiple excavators and job sites. Thus, it acts like a construction surveying solution.
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 continue driving its customer momentum, which, in turn, will benefit its financial performance.
Zacks Rank & Stocks to Consider
Currently, Trimble carries a Zacks Rank #3 (Hold).
Image: Shutterstock
Trimble's (TRMB) Latest Move Boosts Construction Offerings
Trimble (TRMB - Free Report) has been continuously putting efforts into strengthening its construction portfolio.
This is evident from the latest introduction of Tekla Structures 2023, Tekla Structural Designer 2023, Tekla Tedds 2023 and Tekla PowerFab 2023 to its Tekla software.
The latest move has added strength to the company’s Tekla software. Trimble strives to deliver automated and connected workflows and enhanced performance of projects with the latest versions of Tekla.
More on the News
Tekla Structures 2023 is a building information modeling software, which is designed to boost advanced detailing for fabrication workflows and project communication to deliver an improved user experience.
Tekla Structural Designer 2023 offers enhanced footfall assessment by improvising design-to-detail workflows with Tekla Structures and strengthening workflows for timber design with Tekla Tedds.
Tekla PowerFab 2023 is a steel fabrication management software suite that offers visual production dashboards, a shipping calendar and raw material origin tracking feature.
Tekla Tedds is a structural design software that delivers enhanced collaborative design-to-detailing workflows by integrating structural design information and documentation with Tekla Structures.
We believe that the introduction of these advanced software is expected to aid the company’s construction business. This, in turn, will likely aid the performance of its Buildings and Infrastructure segment.
In the fourth quarter, the Buildings and Infrastructure segment generated revenues of $350.2 million, which accounted for 41% of total revenues.
Trimble Inc. Price and Consensus
Trimble Inc. price-consensus-chart | Trimble Inc. Quote
Growth Prospects
The latest move of the company positions it well to capitalize on the growth prospects present in the construction market.
According to a report from Expert Market Research, the global construction market is anticipated to hit $18.6 trillion by 2028 at a CAGR of 6.5% between 2023 and 2028.
A report from Allied Market Research indicates that the global building construction market is likely to reach $11.1 trillion by 2031 at a CAGR of 7.4% between 2022 and 2031.
Per a report from Mordor Intelligence, the global Infrastructure construction market is expected to hit $3.3 trillion by 2027 at a CAGR of 6.5% between 2023 and 2028.
We believe that Trimble’s solid prospects in the promising construction market will likely help it win investors’ confidence in the days ahead.
Coming to the price performance, TRMB has lost 31.1% in the past year against the industry’s rally of 21.3%.
Expanding Portfolio
The latest move is in sync with Trimble’s growing efforts toward expanding its product portfolio.
Apart from the latest launch, Trimble recently introduced the Siteworks Machine Guidance system, which includes Trimble SPS986 or Trimble R780 GNSS Smart Antenna to support Trimble Siteworks software.
Further, the new software module system enables users to shift the system across multiple excavators and job sites. Thus, it acts like a construction surveying solution.
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 continue driving its customer momentum, which, in turn, will benefit its financial performance.
Zacks Rank & Stocks to Consider
Currently, Trimble carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader technology sector are Arista Networks (ANET - Free Report) , Salesforce (CRM - Free Report) and Analog Devices (ADI - Free Report) . While Arista Networks sports a Zacks Rank #1 (Strong Buy), Analog Devices and Salesforce carry 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 gained 23.7% in the past year. The long-term earnings growth rate for ANET is currently projected at 14.17%.
Salesforce shares have lost 13.5% in the past year. CRM’s long-term earnings growth rate is currently projected at 16.75%.
Analog Devices shares have gained 13.1% in the past year. The long-term earnings growth rate for ADI is currently projected at 12.25%.