Corient IA LLC Invests $314,000 in Itron, Inc. $ITRI

Key Points

• Corient IA LLC invested $314,000 in Itron, Inc. by purchasing 3,000 shares, reflecting growing institutional interest in the company.
• Several other institutional investors have increased their positions in Itron, with 96.19% of the company's stock owned by such investors.
• Research analysts generally have a positive outlook on Itron, with a consensus rating of "Moderate Buy" and an average target price of $136.25.

Corient IA LLC bought a new position in Itron, Inc. (NASDAQ:ITRI - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 3,000 shares of the scientific and technical instruments company's stock, valued at approximately $314,000.

Other institutional investors have also recently made changes to their positions in the company. Janney Montgomery Scott LLC increased its position in Itron by 0.7% during the 1st quarter. Janney Montgomery Scott LLC now owns 16,795 shares of the scientific and technical instruments company's stock valued at $1,759,000 after buying an additional 121 shares in the last quarter. CoreCap Advisors LLC increased its position in Itron by 25.5% during the 4th quarter. CoreCap Advisors LLC now owns 616 shares of the scientific and technical instruments company's stock valued at $67,000 after buying an additional 125 shares in the last quarter. Captrust Financial Advisors increased its position in Itron by 6.3% during the 4th quarter. Captrust Financial Advisors now owns 2,144 shares of the scientific and technical instruments company's stock valued at $233,000 after buying an additional 128 shares in the last quarter. HighTower Advisors LLC increased its position in Itron by 2.0% during the 1st quarter. HighTower Advisors LLC now owns 7,501 shares of the scientific and technical instruments company's stock valued at $786,000 after buying an additional 146 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC increased its position in Itron by 7.3% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,345 shares of the scientific and technical instruments company's stock valued at $246,000 after buying an additional 160 shares in the last quarter. Institutional investors own 96.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on ITRI shares. Stephens set a $130.00 price objective on Itron in a research report on Monday, August 4th. Roth Capital raised their price objective on Itron from $130.00 to $150.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Guggenheim reiterated a "buy" rating and set a $155.00 target price (up from $133.00) on shares of Itron in a research note on Monday, July 14th. Piper Sandler cut their target price on Itron from $124.00 to $121.00 and set a "neutral" rating on the stock in a research note on Monday, May 5th. Finally, Wall Street Zen upgraded Itron from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. One research analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $136.25.

Itron Stock Performance

ITRI stock opened at $126.28 on Monday. The company has a market cap of $5.77 billion, a P/E ratio of 21.59, a price-to-earnings-growth ratio of 0.69 and a beta of 1.35. Itron, Inc. has a 1 year low of $90.11 and a 1 year high of $140.04. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.04 and a quick ratio of 1.75. The stock's fifty day moving average price is $130.25 and its 200-day moving average price is $114.59.

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

Insider Transactions at Itron

In other news, SVP Justin K. Patrick sold 9,036 shares of the firm's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $121.77, for a total value of $1,100,313.72. Following 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP John F. Marcolini sold 3,783 shares of the firm's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $116.73, for a total value of $441,589.59. Following the completion of the transaction, the senior vice president owned 21,865 shares in the company, valued at approximately $2,552,301.45. This trade represents a 14.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,755 shares of company stock worth $1,879,397. Company insiders own 1.51% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.