Alps Advisors Inc. Has $5.54 Million Stock Position in Itron, Inc. (NASDAQ:ITRI)

Alps Advisors Inc. trimmed its stake in Itron, Inc. (NASDAQ:ITRI - Free Report) by 12.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,836 shares of the scientific and technical instruments company's stock after selling 7,824 shares during the quarter. Alps Advisors Inc. owned 0.12% of Itron worth $5,535,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GeoWealth Management LLC boosted 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 valued at $25,000 after buying an additional 229 shares during the period. Proficio Capital Partners LLC purchased a new stake in shares of Itron during the fourth quarter worth $30,000. Wayfinding Financial LLC acquired a new stake in Itron during the first quarter valued at $45,000. CoreCap Advisors LLC raised its stake in shares of 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. Finally, Contravisory Investment Management Inc. grew 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 buying an additional 847 shares in the last quarter. 96.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Itron news, SVP Donald L. Reeves III sold 529 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Christopher E. Ware sold 339 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 $38,968.05. Following the sale, the senior vice president owned 19,468 shares in the company, valued at approximately $2,237,846.60. This represents a 1.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,905 shares of company stock valued at $2,439,202 in the last quarter. 1.45% of the stock is currently owned by insiders.

Itron Stock Performance

NASDAQ:ITRI traded down $0.99 during mid-day trading on Friday, hitting $134.54. 396,647 shares of the company's stock traded hands, compared to its average volume of 555,337. The firm has a market capitalization of $6.13 billion, a price-to-earnings ratio of 24.55, a price-to-earnings-growth ratio of 0.86 and a beta of 1.35. The firm has a 50 day moving average of $121.68 and a two-hundred day moving average of $110.40. The company has a current ratio of 1.93, a quick ratio of 1.65 and a debt-to-equity ratio of 0.52. Itron, Inc. has a 12 month low of $90.11 and a 12 month high of $136.24.

Itron (NASDAQ:ITRI - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The scientific and technical instruments company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.22. The company had revenue of $607.15 million during the quarter, compared to analysts' expectations of $608.86 million. Itron had a return on equity of 19.65% and a net margin of 10.34%. Itron's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.24 earnings per share. On average, equities analysts forecast that Itron, Inc. will post 5.33 earnings per share 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.