Ardsley Advisory Partners LP Reduces Stock Position in Itron, Inc. (NASDAQ:ITRI)

Ardsley Advisory Partners LP decreased its position in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 26.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 140,000 shares of the scientific and technical instruments company's stock after selling 50,000 shares during the quarter. Itron comprises 2.4% of Ardsley Advisory Partners LP's holdings, making the stock its 3rd largest holding. Ardsley Advisory Partners LP owned 0.31% of Itron worth $15,201,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. GeoWealth Management LLC increased its stake in shares of Itron by 4,580.0% during the 4th quarter. GeoWealth Management LLC now owns 234 shares of the scientific and technical instruments company's stock worth $25,000 after purchasing an additional 229 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in Itron in the fourth quarter valued at approximately $30,000. Hager Investment Management Services LLC purchased a new stake in shares of Itron during the 4th quarter valued at $67,000. Contravisory Investment Management Inc. lifted its holdings in shares of Itron by 154.9% during the 4th 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 during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in Itron by 347.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 886 shares of the scientific and technical instruments company's stock worth $97,000 after acquiring an additional 688 shares in the last quarter. Institutional investors and hedge funds own 96.19% of the company's stock.

Insider Transactions at Itron

In other news, CAO David Marshall Wright sold 317 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $29,449.30. Following the completion of the transaction, the chief accounting officer now owns 8,108 shares in the company, valued at $753,233.20. This trade represents a 3.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mary C. Hemmingsen sold 5,150 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $108.70, for a total value of $559,805.00. Following the completion of the sale, the director now directly owns 952 shares in the company, valued at approximately $103,482.40. The trade was a 84.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 9,187 shares of company stock valued at $945,620. Company insiders own 1.45% of the company's stock.

Itron Trading Up 2.6 %

NASDAQ:ITRI traded up $2.75 during mid-day trading on Thursday, reaching $109.06. 162,050 shares of the company's stock traded hands, compared to its average volume of 566,018. The company has a 50 day moving average price of $104.31 and a 200-day moving average price of $107.49. The firm has a market capitalization of $4.97 billion, a price-to-earnings ratio of 22.35, a PEG ratio of 0.81 and a beta of 1.31. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83. 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 posted its earnings results on Thursday, May 1st. The scientific and technical instruments company reported $1.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.22. Itron had a return on equity of 19.03% and a net margin of 9.37%. The firm had revenue of $607.15 million for the quarter, compared to analysts' expectations of $608.86 million. During the same period in the previous year, the firm earned $1.24 earnings per share. The business's revenue was up .6% compared to the same quarter last year. On average, sell-side analysts predict that Itron, Inc. will post 5.33 earnings per share for the current year.

Analysts Set New Price Targets

ITRI has been the subject of several research analyst reports. Canaccord Genuity Group lifted 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. StockNews.com lowered Itron from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 1st. Piper Sandler decreased their price target on shares of Itron from $124.00 to $121.00 and set a "neutral" rating on the stock in a research note on Monday. Oppenheimer upped their price objective on shares of Itron from $124.00 to $131.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Finally, Guggenheim reiterated a "buy" rating and issued a $133.00 target price on shares of Itron in a research report on Thursday, April 17th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Itron has an average rating of "Moderate Buy" and a consensus target price of $127.36.

About Itron

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.