Published on 17 Apr 2024 on Zacks via Yahoo Finance
Trimble TRMB is strengthening its presence in the forestry sector driven by an expanding clientele. It recently announced that Holmen, a prominent player in the Swedish forestry industry, selected CONNECTED FOREST as its comprehensive forest management system.The selection marks a move for Holmen Skog, the division responsible for monitoring Holmen’s vast land holdings spanning approximately 1.3 million hectares. It became the first entity in Sweden and Scandinavia to integrate the Trimble CONNECTED FOREST suite into operations completely.
Trimble Rides on Strong Portfolio
Trimble’s share has gained 10.8% year to date, outperforming the Zacks Computer and Technology sector’s return of 9%. The outperformance can be attributed to Trimble’s aim to advance digital forestry solutions and enable data-driven decision-making in the forestry industry.Trimble also benefits from its strength in the building infrastructure and transportation segments. Bookings in AECO software businesses increased more than 30% year over year, driven in part by the strong cross-sell and TC1 performance in fourth-quarter 2023.