Fox Run Management L.L.C. Takes Position in Itron, Inc. (NASDAQ:ITRI)

Key Points

• Fox Run Management L.L.C. acquired 17,370 shares of Itron, Inc., valued at approximately $1,820,000, during the first quarter.
• Analysts have issued multiple upgrades for Itron's stock, with target prices ranging from $130.00 to $150.00 and an average rating of "Moderate Buy."
• In the most recent quarter, Itron reported an earnings per share (EPS) of $1.62, exceeding estimates, despite a slight revenue decline year-over-year.

Fox Run Management L.L.C. acquired a new position in Itron, Inc. (NASDAQ:ITRI - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 17,370 shares of the scientific and technical instruments company's stock, valued at approximately $1,820,000.

A number of other institutional investors also recently made changes to their positions in the business. GeoWealth Management LLC boosted its stake 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 valued at $25,000 after purchasing an additional 229 shares during the period. Wayfinding Financial LLC bought a new stake in Itron during the 1st quarter valued at $45,000. CoreCap Advisors LLC boosted 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 during the period. Contravisory Investment Management Inc. grew 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 worth $179,000 after acquiring an additional 847 shares during the last quarter. Finally, Hancock Whitney Corp purchased a new position in shares of Itron in the fourth quarter valued at about $220,000. Hedge funds and other institutional investors own 96.19% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ITRI. Wall Street Zen upgraded shares of Itron from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. TD Cowen increased their price objective on Itron from $139.00 to $145.00 and gave the stock a "buy" rating in a report on Friday, June 20th. Guggenheim reiterated a "buy" rating and issued a $155.00 price objective (up from $133.00) on shares of Itron in a research report on Monday, July 14th. JPMorgan Chase & Co. upgraded Itron from a "neutral" rating to an "overweight" rating and upped their target price for the company from $128.00 to $145.00 in a report on Thursday, July 31st. Finally, Piper Sandler dropped their price target on Itron from $124.00 to $121.00 and set a "neutral" rating for the company in a research note on Monday, May 5th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, Itron presently has an average rating of "Moderate Buy" and a consensus target price of $136.25.

Insider Transactions at Itron

In other news, CFO Joan S. Hooper sold 938 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $114.95, for a total transaction of $107,823.10. Following the completion of the transaction, the chief financial officer directly owned 89,364 shares in the company, valued at $10,272,391.80. This trade represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP John F. Marcolini sold 3,783 shares of Itron stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $116.73, for a total transaction of $441,589.59. Following the completion of the transaction, the senior vice president directly owned 21,865 shares of the company's stock, valued at $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 90 days, insiders sold 15,755 shares of company stock worth $1,879,397. Company insiders own 1.45% of the company's stock.

Itron Stock Up 0.7%

Shares of ITRI stock traded up $0.91 during mid-day trading on Friday, reaching $126.28. 415,545 shares of the company's stock traded hands, compared to its average volume of 698,423. The company's 50-day moving average price is $130.25 and its 200-day moving average price is $114.54. The company has a market cap of $5.77 billion, a P/E ratio of 21.59, a P/E/G ratio of 0.69 and a beta of 1.35. The company has a quick ratio of 1.75, a current ratio of 2.04 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.

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