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

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

Several other institutional investors have also recently made changes to their positions in the business. GeoWealth Management LLC boosted its stake in Itron by 4,580.0% in the 4th quarter. GeoWealth Management LLC now owns 234 shares of the scientific and technical instruments company's stock worth $25,000 after purchasing an additional 229 shares during the period. CoreCap Advisors LLC lifted its holdings in shares of Itron by 25.5% in the fourth quarter. CoreCap Advisors LLC now owns 616 shares of the scientific and technical instruments company's stock worth $67,000 after buying an additional 125 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Itron by 347.5% during 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 acquiring an additional 688 shares in the last quarter. Contravisory Investment Management Inc. increased its holdings in 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 acquiring an additional 847 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its stake in 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 worth $198,000 after purchasing an additional 548 shares in the last quarter. Hedge funds and other institutional investors own 96.19% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Wall Street Zen cut Itron from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. Oppenheimer lifted their price objective on Itron from $124.00 to $131.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Piper Sandler lowered their target price on Itron from $124.00 to $121.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. Guggenheim reissued a "buy" rating and issued a $133.00 target price on shares of Itron in a report on Thursday, April 17th. Finally, Canaccord Genuity Group upped their price target on shares of Itron from $130.00 to $132.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $127.36.

Itron Stock Up 1.0%

Shares of ITRI stock traded up $1.26 during mid-day trading on Thursday, hitting $125.70. The stock had a trading volume of 486,043 shares, compared to its average volume of 565,620. Itron, Inc. has a 12-month low of $90.11 and a 12-month high of $126.05. 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 firm's 50-day moving average is $112.36 and its two-hundred day moving average is $108.10. The firm has a market capitalization of $5.73 billion, a P/E ratio of 22.94, a price-to-earnings-growth ratio of 0.79 and a beta of 1.33.

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

Insider Buying and Selling

In other news, SVP Justin K. Patrick sold 9,036 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $121.77, for a total transaction of $1,100,313.72. Following the completion of the sale, the senior vice president now owns 21,149 shares in the company, valued at approximately $2,575,313.73. This represents a 29.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Joan S. Hooper sold 938 shares of the business's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $114.95, for a total value of $107,823.10. Following the transaction, the chief financial officer now owns 89,364 shares in the company, valued at approximately $10,272,391.80. This trade represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,905 shares of company stock valued at $2,439,202 over the last 90 days. Corporate insiders own 1.45% of the company's stock.

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.