Balyasny Asset Management L.P. Buys 34,623 Shares of Itron, Inc. (NASDAQ:ITRI)

Balyasny Asset Management L.P. boosted its position in Itron, Inc. (NASDAQ:ITRI - Free Report) by 19.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 214,993 shares of the scientific and technical instruments company's stock after purchasing an additional 34,623 shares during the quarter. Balyasny Asset Management L.P. owned about 0.48% of Itron worth $23,344,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GeoWealth Management LLC grew its holdings 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 in the last quarter. Proficio Capital Partners LLC acquired a new stake in Itron during the fourth quarter worth about $30,000. Hager Investment Management Services LLC acquired a new stake in Itron during the fourth quarter worth about $67,000. Contravisory Investment Management Inc. raised its position in shares of Itron by 154.9% in the 4th quarter. Contravisory Investment Management Inc. now owns 864 shares of the scientific and technical instruments company's stock valued at $94,000 after buying an additional 525 shares in the last quarter. Finally, Smartleaf Asset Management LLC raised its position in shares of Itron by 347.5% in 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 buying an additional 688 shares in the last quarter. 96.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Piper Sandler decreased their price objective on shares of Itron from $124.00 to $121.00 and set a "neutral" rating on the stock in a research note on Monday. Guggenheim reiterated a "buy" rating and issued a $133.00 price target on shares of Itron in a research note on Thursday, April 17th. Canaccord Genuity Group raised their price objective on Itron from $130.00 to $132.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Oppenheimer boosted their target price on Itron from $124.00 to $131.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Finally, StockNews.com downgraded shares of Itron from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 1st. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $127.36.

Itron Trading Up 0.5 %

Shares of ITRI stock traded up $0.51 during trading hours on Friday, hitting $108.38. 307,833 shares of the company's stock traded hands, compared to its average volume of 567,591. The company has a quick ratio of 2.83, a current ratio of 3.36 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. The stock has a market cap of $4.94 billion, a PE ratio of 22.21, a price-to-earnings-growth ratio of 0.81 and a beta of 1.31. The stock's 50 day simple moving average is $104.39 and its 200 day simple moving average is $107.57.

Itron (NASDAQ:ITRI - Get Free Report) last announced its earnings results on Thursday, May 1st. The scientific and technical instruments company reported $1.52 earnings per share (EPS) for the quarter, topping 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 business had revenue of $607.15 million during the quarter, compared to analyst estimates of $608.86 million. During the same period last year, the company earned $1.24 EPS. Itron's revenue for the quarter was up .6% compared to the same quarter last year. On average, sell-side analysts anticipate that Itron, Inc. will post 5.33 EPS for the current year.

Insider Buying and Selling at Itron

In other Itron news, SVP Christopher E. Ware sold 648 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.90, for a total transaction of $60,199.20. Following the completion of the sale, the senior vice president now directly owns 20,326 shares in the company, valued at approximately $1,888,285.40. This trade represents a 3.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mary C. Hemmingsen sold 5,150 shares of Itron stock in a transaction dated 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 transaction, the director now directly owns 952 shares of the company's stock, valued at approximately $103,482.40. This trade represents a 84.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,187 shares of company stock valued at $945,620. 1.45% of the stock is currently owned by company insiders.

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.