Alps Advisors Inc. Cuts Stake in Itron, Inc. (NASDAQ:ITRI)

Alps Advisors Inc. cut its holdings in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 12.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 52,836 shares of the scientific and technical instruments company's stock after selling 7,824 shares during the period. Alps Advisors Inc. owned about 0.12% of Itron worth $5,535,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Janney Montgomery Scott LLC increased its stake in Itron by 0.7% during the first quarter. Janney Montgomery Scott LLC now owns 16,795 shares of the scientific and technical instruments company's stock worth $1,759,000 after purchasing an additional 121 shares during the period. CoreCap Advisors LLC increased its stake in Itron by 25.5% during the fourth 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 during the period. Captrust Financial Advisors increased its stake in Itron by 6.3% during the fourth quarter. Captrust Financial Advisors now owns 2,144 shares of the scientific and technical instruments company's stock worth $233,000 after purchasing an additional 128 shares during the period. Summit Investment Advisors Inc. increased its stake in Itron by 3.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,726 shares of the scientific and technical instruments company's stock worth $513,000 after purchasing an additional 140 shares during the period. Finally, Merit Financial Group LLC increased its stake in Itron by 6.7% during the first quarter. Merit Financial Group LLC now owns 2,962 shares of the scientific and technical instruments company's stock worth $310,000 after purchasing an additional 187 shares during the period. 96.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Wall Street Zen lowered shares of Itron from a "buy" rating to a "hold" rating in a research note on Sunday, June 1st. Guggenheim reaffirmed a "buy" rating and issued a $155.00 price target (up from $133.00) on shares of Itron in a report on Monday. TD Cowen increased their price objective on Itron from $139.00 to $145.00 and gave the company a "buy" rating in a report on Friday, June 20th. Finally, Piper Sandler decreased their price objective on Itron from $124.00 to $121.00 and set a "neutral" rating for the company in a report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $130.18.

Insider Activity at Itron

In other Itron news, SVP Justin K. Patrick sold 9,036 shares of the firm's stock in a transaction dated Tuesday, June 10th. The shares were sold at an average price of $121.77, for a total transaction of $1,100,313.72. Following the sale, the senior vice president directly owned 21,149 shares of the company's stock, valued at $2,575,313.73. This trade represents a 29.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Christopher E. Ware sold 339 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $114.95, for a total transaction of $38,968.05. Following the transaction, the senior vice president owned 19,468 shares in the company, valued at approximately $2,237,846.60. The trade was a 1.71% 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 over the last three months. Company insiders own 1.51% of the company's stock.

Itron Price Performance

NASDAQ ITRI traded up $0.80 during trading hours on Monday, reaching $135.34. The company's stock had a trading volume of 290,110 shares, compared to its average volume of 552,800. The stock has a market cap of $6.17 billion, a PE ratio of 24.70, a PEG ratio of 0.85 and a beta of 1.35. Itron, Inc. has a fifty-two week low of $90.11 and a fifty-two week high of $136.24. The company's 50-day moving average is $121.68 and its two-hundred day moving average is $110.40. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.65 and a current ratio of 1.93.

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