Allspring Global Investments Holdings LLC Purchases 2,201 Shares of Itron, Inc. (NASDAQ:ITRI)

Allspring Global Investments Holdings LLC lifted its holdings in Itron, Inc. (NASDAQ:ITRI - Free Report) by 54.0% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,278 shares of the scientific and technical instruments company's stock after buying an additional 2,201 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Itron were worth $658,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Graphene Investments SAS bought a new position in shares of Itron in the first quarter valued at about $2,724,000. Sequoia Financial Advisors LLC raised its holdings in shares of Itron by 8.8% in the first quarter. Sequoia Financial Advisors LLC now owns 27,638 shares of the scientific and technical instruments company's stock valued at $2,895,000 after buying an additional 2,244 shares during the last quarter. Asset Management One Co. Ltd. acquired a new stake in Itron in the first quarter worth about $320,000. Illumine Investment Management LLC increased its position in Itron by 3.6% in the first quarter. Illumine Investment Management LLC now owns 7,227 shares of the scientific and technical instruments company's stock worth $757,000 after purchasing an additional 252 shares during the period. Finally, Sowell Financial Services LLC acquired a new stake in Itron in the first quarter worth about $266,000. 96.19% of the stock is owned by institutional investors.

Itron Trading Down 0.7%

Shares of Itron stock traded down $0.99 during trading on Friday, hitting $134.54. 396,647 shares of the company were exchanged, compared to its average volume of 553,855. The firm has a market capitalization of $6.13 billion, a P/E ratio of 24.55, a price-to-earnings-growth ratio of 0.85 and a beta of 1.35. Itron, Inc. has a 1-year low of $90.11 and a 1-year high of $136.24. The firm's fifty day moving average price is $121.68 and its 200 day moving average price is $110.40. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.93 and a quick ratio of 1.65.

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, topping the consensus estimate of $1.30 by $0.22. Itron had a return on equity of 19.65% and a net margin of 10.34%. The company had revenue of $607.15 million during the quarter, compared to analyst estimates of $608.86 million. During the same period in the previous year, the company earned $1.24 EPS. The company's revenue for the quarter was up .6% compared to the same quarter last year. As a group, sell-side analysts expect that Itron, Inc. will post 5.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Mary C. Hemmingsen sold 5,150 shares of the business's stock in a transaction that occurred 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 transaction, the director directly owned 952 shares in the company, valued at approximately $103,482.40. The trade was a 84.40% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Donald L. Reeves III sold 529 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $114.95, for a total value of $60,808.55. Following the completion of the transaction, the senior vice president owned 20,151 shares of the company's stock, valued at $2,316,357.45. This represents a 2.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,905 shares of company stock worth $2,439,202 in the last three months. 1.45% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts recently commented on ITRI shares. Piper Sandler lowered their price objective on Itron from $124.00 to $121.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. Wall Street Zen lowered Itron from a "buy" rating to a "hold" rating in a research report on Sunday, June 1st. TD Cowen lifted their price objective on Itron from $139.00 to $145.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. Finally, Guggenheim reiterated a "buy" rating and issued a $133.00 price objective on shares of Itron in a research report on Thursday, April 17th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $128.18.

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.