Trimble Navigation (NASDAQ:TRMB) makes GPS positioning and precision-measurement products that increase the efficiency of construction workers, farmers and truck drivers. The company’s upbeat outlook for 2016 boosted the stock by 15.6% from $21.45 to $24.80, increasing the Fund’s return by 53 basis points. Trimble’s sales to farmers have declined over the past two years, but a number of new products, as well as the increasing adoption of the company’s software programs, are pulling this segment out of its slump.
From the Parnassus Fund first quarter 2016 shareholder letter.
