Algert Global LLC Has $19.61 Million Stock Holdings in Itron, Inc. (NASDAQ:ITRI)

Algert Global LLC raised its stake in Itron, Inc. (NASDAQ:ITRI - Free Report) by 16.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 180,585 shares of the scientific and technical instruments company's stock after buying an additional 25,540 shares during the period. Itron comprises about 0.5% of Algert Global LLC's investment portfolio, making the stock its 8th biggest position. Algert Global LLC owned 0.40% of Itron worth $19,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently made changes to their positions in the company. GeoWealth Management LLC increased its stake in Itron by 4,580.0% in the fourth quarter. GeoWealth Management LLC now owns 234 shares of the scientific and technical instruments company's stock valued at $25,000 after acquiring an additional 229 shares during the last quarter. Hager Investment Management Services LLC purchased a new stake in Itron in the fourth quarter worth approximately $67,000. Contravisory Investment Management Inc. raised its stake in shares of Itron by 154.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 864 shares of the scientific and technical instruments company's stock worth $94,000 after acquiring an additional 525 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Itron by 347.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 886 shares of the scientific and technical instruments company's stock valued at $97,000 after acquiring an additional 688 shares during the period. Finally, GAMMA Investing LLC increased its stake in Itron by 15.6% in the 4th quarter. GAMMA Investing LLC now owns 1,177 shares of the scientific and technical instruments company's stock worth $128,000 after purchasing an additional 159 shares during the period. Hedge funds and other institutional investors own 96.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Piper Sandler increased their price target on shares of Itron from $119.00 to $124.00 and gave the company a "neutral" rating in a research report on Thursday, February 27th. StockNews.com lowered shares of Itron from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 1st. Guggenheim restated a "buy" rating and set a $133.00 price target on shares of Itron in a report on Thursday, April 17th. Canaccord Genuity Group raised their price target on Itron from $130.00 to $132.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Finally, Oppenheimer boosted their price objective on shares of Itron from $124.00 to $131.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $127.64.

Insider Activity

In other Itron news, SVP Christopher E. Ware sold 648 shares of Itron stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.90, for a total value of $60,199.20. Following the completion of the transaction, the senior vice president now directly owns 20,326 shares of the company's stock, valued at approximately $1,888,285.40. The trade was a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary C. Hemmingsen sold 750 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $107.27, for a total transaction of $80,452.50. Following the sale, the director now owns 5,630 shares in the company, valued at approximately $603,930.10. The trade was a 11.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,037 shares of company stock worth $385,815. Insiders own 1.45% of the company's stock.

Itron Stock Performance

Shares of Itron stock opened at $108.23 on Friday. The business has a fifty day simple moving average of $104.37 and a two-hundred day simple moving average of $107.47. The firm has a market capitalization of $4.93 billion, a P/E ratio of 22.18, a P/E/G ratio of 0.81 and a beta of 1.31. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91. Itron, Inc. has a 12 month low of $90.11 and a 12 month high of $124.90.

Itron (NASDAQ:ITRI - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The scientific and technical instruments company reported $1.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.30 by $0.22. Itron had a net margin of 9.37% and a return on equity of 19.03%. The company had revenue of $607.15 million during the quarter, compared to analysts' expectations of $608.86 million. During the same period last year, the company posted $1.24 EPS. Itron's revenue was up .6% on a year-over-year basis. On average, equities analysts forecast that Itron, Inc. will post 5.33 earnings per share for the current fiscal year.

Itron Profile

Itron, Inc, a technology, solutions, and service company, provides end-to-end solutions that help manage energy, water, and smart city operations worldwide. It operates in three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing, such as standard gas, electricity, water, and communicating meters, as well as heat and allocation products.

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