Azzad Asset Management Inc. ADV Takes Position in Itron, Inc. (NASDAQ:ITRI)

Azzad Asset Management Inc. ADV bought a new position in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,765 shares of the scientific and technical instruments company's stock, valued at approximately $709,000.

Other institutional investors have also modified their holdings of the company. GeoWealth Management LLC grew its holdings 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 buying an additional 229 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in Itron during the 4th quarter worth approximately $30,000. CoreCap Advisors LLC grew its stake in shares of Itron by 25.5% in the 4th quarter. CoreCap Advisors LLC now owns 616 shares of the scientific and technical instruments company's stock valued at $67,000 after purchasing an additional 125 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Itron by 347.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 886 shares of the scientific and technical instruments company's stock valued at $97,000 after purchasing an additional 688 shares during the period. Finally, Contravisory Investment Management Inc. increased its holdings in shares of Itron by 98.0% in the first 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. 96.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Itron news, Director Mary C. Hemmingsen sold 5,150 shares of the company's stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $108.70, for a total value of $559,805.00. Following the transaction, the director now directly owns 952 shares in the company, valued at approximately $103,482.40. This represents a 84.40% 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 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 $38,968.05. Following the sale, the senior vice president now owns 19,468 shares of the company's stock, valued at approximately $2,237,846.60. This trade 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 worth $2,439,202 over the last ninety days. 1.45% of the stock is currently owned by insiders.

Itron Price Performance

NASDAQ ITRI traded up $3.08 during mid-day trading on Monday, hitting $125.04. The stock had a trading volume of 508,042 shares, compared to its average volume of 583,040. The company has a 50 day simple moving average of $110.68 and a 200 day simple moving average of $107.82. The company has a market cap of $5.70 billion, a price-to-earnings ratio of 25.62, a P/E/G ratio of 0.81 and a beta of 1.33. Itron, Inc. has a 52-week low of $90.11 and a 52-week high of $125.40. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91.

Itron (NASDAQ:ITRI - Get Free Report) last released its quarterly 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. The business had revenue of $607.15 million during the quarter, compared to the consensus estimate of $608.86 million. Itron had a return on equity of 19.03% and a net margin of 9.37%. The business's revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.24 EPS. Equities analysts forecast that Itron, Inc. will post 5.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ITRI. Piper Sandler lowered their price objective 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. Canaccord Genuity Group raised their target price on shares of Itron from $130.00 to $132.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Oppenheimer boosted their price target on shares of Itron from $124.00 to $131.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Wall Street Zen downgraded shares of Itron from a "buy" rating to a "hold" rating in a research report on Sunday, June 1st. Finally, Guggenheim reiterated a "buy" rating and set a $133.00 target price on shares of Itron in a research report on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, Itron presently has an average rating of "Moderate Buy" and a consensus target price of $127.36.

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.