Concentric Capital Strategies LP Increases Stock Position in Itron, Inc. (NASDAQ:ITRI)

Concentric Capital Strategies LP lifted its holdings in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 157.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,099 shares of the scientific and technical instruments company's stock after purchasing an additional 60,052 shares during the period. Concentric Capital Strategies LP owned about 0.22% of Itron worth $10,652,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Franklin Resources Inc. boosted its stake in shares of Itron by 611.9% during the third quarter. Franklin Resources Inc. now owns 282,828 shares of the scientific and technical instruments company's stock valued at $31,128,000 after acquiring an additional 243,102 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Itron by 4.5% during the third quarter. Principal Financial Group Inc. now owns 248,077 shares of the scientific and technical instruments company's stock worth $26,497,000 after buying an additional 10,677 shares in the last quarter. GAMMA Investing LLC lifted its stake in shares of Itron by 15.6% during the fourth quarter. GAMMA Investing LLC now owns 1,177 shares of the scientific and technical instruments company's stock valued at $128,000 after buying an additional 159 shares during the period. Green Alpha Advisors LLC boosted its position in Itron by 7.2% during the fourth quarter. Green Alpha Advisors LLC now owns 5,878 shares of the scientific and technical instruments company's stock worth $638,000 after acquiring an additional 395 shares during the last quarter. Finally, Burney Co. raised its holdings in Itron by 129.0% in the 4th quarter. Burney Co. now owns 8,795 shares of the scientific and technical instruments company's stock valued at $955,000 after acquiring an additional 4,955 shares during the last quarter. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on ITRI shares. Oppenheimer lifted their price target on Itron from $124.00 to $131.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Guggenheim reaffirmed a "buy" rating and set a $133.00 price target on shares of Itron in a research report on Thursday, April 17th. StockNews.com lowered shares of Itron from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 1st. Piper Sandler dropped their price objective on Itron from $124.00 to $121.00 and set a "neutral" rating for the company in a report on Monday. Finally, Canaccord Genuity Group lifted their target price on Itron from $130.00 to $132.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $127.36.

Insiders Place Their Bets

In related news, Director Mary C. Hemmingsen sold 750 shares of the company's stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $107.27, for a total transaction of $80,452.50. Following the completion of the transaction, the director now directly owns 5,630 shares in the company, valued at $603,930.10. This represents a 11.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Christopher E. Ware sold 648 shares of the firm's stock in a transaction on 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 sale, the senior vice president now owns 20,326 shares in the company, valued at $1,888,285.40. The trade was a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,037 shares of company stock valued at $385,815 over the last 90 days. 1.45% of the stock is owned by company insiders.

Itron Trading Down 0.8 %

ITRI opened at $106.68 on Wednesday. Itron, Inc. has a 12-month low of $90.11 and a 12-month high of $124.90. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83. The stock has a market capitalization of $4.86 billion, a PE ratio of 21.86, a P/E/G ratio of 0.81 and a beta of 1.31. The firm's fifty day moving average price is $104.36 and its 200 day moving average price is $107.49.

Itron (NASDAQ:ITRI - Get Free Report) last issued its 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. The business had revenue of $607.15 million for the quarter, compared to analyst estimates of $608.86 million. Itron had a net margin of 9.37% and a return on equity of 19.03%. The company's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.24 EPS. As a group, research analysts expect that Itron, Inc. will post 5.33 EPS for the current fiscal year.

Itron Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.