Banco Santander S.A. Buys 5,000 Shares of Itron, Inc. (NASDAQ:ITRI)

Banco Santander S.A. boosted its position in Itron, Inc. (NASDAQ:ITRI - Free Report) by 2.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 203,000 shares of the scientific and technical instruments company's stock after buying an additional 5,000 shares during the quarter. Banco Santander S.A. owned approximately 0.45% of Itron worth $21,266,000 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 raised its holdings in shares of 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 valued at $25,000 after acquiring an additional 229 shares in the last quarter. Wayfinding Financial LLC bought a new stake in Itron during the first quarter worth about $45,000. CoreCap Advisors LLC boosted its stake in 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. Contravisory Investment Management Inc. raised its stake in shares of Itron by 98.0% during the first quarter. Contravisory Investment Management Inc. now owns 1,711 shares of the scientific and technical instruments company's stock worth $179,000 after acquiring an additional 847 shares in the last quarter. Finally, Hancock Whitney Corp purchased a new position in Itron in the 4th quarter worth $220,000. Institutional investors own 96.19% of the company's stock.

Itron Stock Down 1.1%

NASDAQ ITRI opened at $123.18 on Friday. The company has a current ratio of 2.04, a quick ratio of 1.65 and a debt-to-equity ratio of 0.48. Itron, Inc. has a 12 month low of $90.11 and a 12 month high of $140.04. The stock's 50 day moving average is $128.49 and its 200 day moving average is $113.13. The stock has a market cap of $5.62 billion, a PE ratio of 21.06, a P/E/G ratio of 0.79 and a beta of 1.35.

Itron (NASDAQ:ITRI - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The scientific and technical instruments company reported $1.62 earnings per share for the quarter, beating analysts' consensus estimates of $1.33 by $0.29. Itron had a return on equity of 19.69% and a net margin of 11.05%. The firm had revenue of $606.76 million during the quarter, compared to analyst estimates of $610.36 million. During the same quarter last year, the business posted $1.21 earnings per share. The business's quarterly revenue was down .4% compared to the same quarter last year. Research analysts predict that Itron, Inc. will post 5.33 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, SVP Donald L. Reeves III sold 529 shares of Itron stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $114.95, for a total transaction of $60,808.55. Following the completion of the transaction, the senior vice president directly owned 20,151 shares of the company's stock, valued at approximately $2,316,357.45. The trade was a 2.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Justin K. Patrick sold 9,036 shares of the company's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $121.77, for a total value of $1,100,313.72. Following the completion of the transaction, the senior vice president directly owned 21,149 shares in the company, valued at $2,575,313.73. This trade represents a 29.94% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 20,905 shares of company stock valued at $2,439,202. 1.45% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ITRI has been the subject of a number of recent analyst reports. Guggenheim reiterated a "buy" rating and set a $155.00 price target (up from $133.00) on shares of Itron in a report on Monday, July 14th. Johnson Rice reaffirmed an "accumulate" rating on shares of Itron in a research report on Friday. JPMorgan Chase & Co. raised Itron from a "neutral" rating to an "overweight" rating and raised their price objective for the company from $128.00 to $145.00 in a research report on Thursday. Piper Sandler lowered 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. Finally, TD Cowen raised their price target on Itron from $139.00 to $145.00 and gave the company a "buy" rating in a report on Friday, June 20th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $134.58.

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.

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