Edgestream Partners L.P. Decreases Stock Holdings in Itron, Inc. (NASDAQ:ITRI)

Edgestream Partners L.P. cut its holdings in Itron, Inc. (NASDAQ:ITRI - Free Report) by 62.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,595 shares of the scientific and technical instruments company's stock after selling 14,448 shares during the period. Edgestream Partners L.P.'s holdings in Itron were worth $900,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ITRI. First Trust Advisors LP raised its stake in Itron by 9.1% during the 4th quarter. First Trust Advisors LP now owns 802,584 shares of the scientific and technical instruments company's stock worth $87,145,000 after acquiring an additional 66,637 shares during the period. Norges Bank bought a new stake in Itron during the 4th quarter valued at approximately $64,615,000. Northern Trust Corp raised its stake in Itron by 11.4% during the 4th quarter. Northern Trust Corp now owns 572,266 shares of the scientific and technical instruments company's stock valued at $62,137,000 after purchasing an additional 58,546 shares during the period. Nuveen Asset Management LLC raised its position in shares of Itron by 21.5% during the fourth quarter. Nuveen Asset Management LLC now owns 560,478 shares of the scientific and technical instruments company's stock valued at $60,857,000 after buying an additional 99,142 shares during the last quarter. Finally, Janus Henderson Group PLC raised its position in shares of Itron by 2.4% during the fourth quarter. Janus Henderson Group PLC now owns 536,288 shares of the scientific and technical instruments company's stock valued at $58,233,000 after buying an additional 12,810 shares during the last quarter. 96.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Itron news, SVP Donald L. Reeves III sold 529 shares of the firm's stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $114.95, for a total value of $60,808.55. Following the completion of the sale, the senior vice president owned 20,151 shares of the company's stock, valued at approximately $2,316,357.45. This trade represents a 2.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Christopher E. Ware sold 339 shares of Itron stock in a transaction on 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 owned 19,468 shares of the company's stock, valued at $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 valued at $2,439,202 over the last quarter. Insiders own 1.45% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ITRI shares. Guggenheim reaffirmed a "buy" rating and issued a $155.00 target price (up from $133.00) on shares of Itron in a report on Monday, July 14th. TD Cowen lifted their price objective on Itron from $139.00 to $145.00 and gave the stock a "buy" rating in a research note on Friday, June 20th. Piper Sandler reduced their price objective 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 downgraded Itron from a "buy" rating to a "hold" rating in a research note on Sunday, June 1st. Three 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 presently has a consensus rating of "Moderate Buy" and an average target price of $132.00.

Itron Trading Down 0.2%

ITRI stock traded down $0.22 during mid-day trading on Friday, reaching $136.39. The company had a trading volume of 296,521 shares, compared to its average volume of 548,401. 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 company has a market capitalization of $6.22 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 0.86 and a beta of 1.35. The firm has a 50 day moving average of $124.54 and a 200 day moving average of $111.33. Itron, Inc. has a 12 month low of $90.11 and a 12 month high of $137.68.

Itron (NASDAQ:ITRI - Get Free Report) last issued its 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. Itron had a net margin of 10.34% and a return on equity of 19.65%. The company had revenue of $607.15 million for the quarter, compared to analysts' expectations of $608.86 million. During the same period in the prior year, the business earned $1.24 EPS. The firm's quarterly revenue was up .6% on a year-over-year basis. On average, equities analysts predict that Itron, Inc. will post 5.33 earnings per share for the current fiscal year.

About Itron

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.