Allspring Global Investments Holdings LLC Has $658,000 Stake in Itron, Inc. (NASDAQ:ITRI)

Allspring Global Investments Holdings LLC increased its holdings in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 54.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. GeoWealth Management LLC increased its position in shares of Itron by 4,580.0% during the fourth quarter. GeoWealth Management LLC now owns 234 shares of the scientific and technical instruments company's stock worth $25,000 after acquiring an additional 229 shares in the last quarter. Proficio Capital Partners LLC acquired a new position in Itron in the 4th quarter worth $30,000. CoreCap Advisors LLC increased its holdings in Itron by 25.5% during the 4th quarter. CoreCap Advisors LLC now owns 616 shares of the scientific and technical instruments company's stock worth $67,000 after purchasing an additional 125 shares in the last quarter. Contravisory Investment Management Inc. raised its stake in shares of Itron by 98.0% in the 1st quarter. Contravisory Investment Management Inc. now owns 1,711 shares of the scientific and technical instruments company's stock valued at $179,000 after purchasing an additional 847 shares during the period. Finally, Steward Partners Investment Advisory LLC raised its stake in shares of Itron by 43.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,820 shares of the scientific and technical instruments company's stock valued at $198,000 after purchasing an additional 548 shares during the period. 96.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Itron

In other news, Director Mary C. Hemmingsen sold 5,150 shares of the firm's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $108.70, for a total transaction of $559,805.00. Following the completion of the sale, the director owned 952 shares in the company, valued at approximately $103,482.40. This trade represents a 84.40% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Joan S. Hooper sold 938 shares of Itron stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $114.95, for a total transaction of $107,823.10. Following the sale, the chief financial officer directly owned 89,364 shares of the company's stock, valued at $10,272,391.80. The trade was a 1.04% decrease in their position. 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 insiders.

Itron Stock Performance

NASDAQ ITRI traded down $0.99 on Friday, hitting $134.54. 396,647 shares of the stock were exchanged, compared to its average volume of 555,304. The company has a market capitalization of $6.13 billion, a PE ratio of 24.55, a P/E/G ratio of 0.86 and a beta of 1.35. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.93 and a quick ratio of 1.65. The business's fifty day moving average is $121.68 and its 200 day moving average is $110.40. Itron, Inc. has a 52 week low of $90.11 and a 52 week high of $136.24.

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 the consensus estimate of $1.30 by $0.22. The business had revenue of $607.15 million during the quarter, compared to the consensus estimate of $608.86 million. Itron had a net margin of 10.34% and a return on equity of 19.65%. Itron's revenue was up .6% on a year-over-year basis. During the same period last year, the business posted $1.24 EPS. Research analysts anticipate that Itron, Inc. will post 5.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ITRI. Wall Street Zen downgraded Itron from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. Guggenheim reaffirmed a "buy" rating and set a $133.00 price target on shares of Itron in a research note on Thursday, April 17th. TD Cowen lifted their price objective on shares of Itron from $139.00 to $145.00 and gave the company a "buy" rating in a report on Friday, June 20th. Finally, Piper Sandler reduced their target price on shares of Itron from $124.00 to $121.00 and set a "neutral" rating for the company in a report on Monday, May 5th. Four investment analysts have rated the stock with a hold rating and eight have issued 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 $128.18.

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.