Graphene Investments SAS Makes New $2.72 Million Investment in Itron, Inc. (NASDAQ:ITRI)

Graphene Investments SAS purchased a new position in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 26,000 shares of the scientific and technical instruments company's stock, valued at approximately $2,724,000. Itron comprises approximately 2.0% of Graphene Investments SAS's holdings, making the stock its 29th biggest position. Graphene Investments SAS owned approximately 0.06% of Itron at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sowell Financial Services LLC acquired a new position in shares of Itron during the 1st quarter worth $266,000. Intech Investment Management LLC raised its stake in shares of Itron by 112.7% during the 4th quarter. Intech Investment Management LLC now owns 41,363 shares of the scientific and technical instruments company's stock worth $4,491,000 after buying an additional 21,919 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of 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 worth $1,759,000 after buying an additional 121 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Itron by 180.7% during the 4th quarter. Wellington Management Group LLP now owns 333,363 shares of the scientific and technical instruments company's stock worth $36,197,000 after buying an additional 214,600 shares during the last quarter. Finally, HighTower Advisors LLC raised its stake in shares of Itron by 143.2% during the 4th quarter. HighTower Advisors LLC now owns 7,355 shares of the scientific and technical instruments company's stock worth $799,000 after buying an additional 4,331 shares during the last quarter. Institutional investors and hedge funds own 96.19% of the company's stock.

Itron Price Performance

ITRI stock traded down $0.83 during trading on Monday, hitting $131.63. The stock had a trading volume of 740,428 shares, compared to its average volume of 560,394. Itron, Inc. has a 1-year low of $90.11 and a 1-year high of $134.52. The company's 50 day moving average price is $116.99 and its two-hundred day moving average price is $108.85. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.65 and a current ratio of 1.93. The stock has a market cap of $6.00 billion, a price-to-earnings ratio of 24.02, a price-to-earnings-growth ratio of 0.84 and a beta of 1.33.

Itron (NASDAQ:ITRI - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The scientific and technical instruments company reported $1.52 EPS for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $608.86 million. During the same quarter in the prior year, the company posted $1.24 EPS. The company's quarterly revenue was up .6% compared to the same quarter last year. On average, sell-side analysts forecast that Itron, Inc. will post 5.33 EPS for the current fiscal year.

Insider Activity at Itron

In other news, CFO Joan S. Hooper sold 938 shares of the business's stock in a transaction dated 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 sale, the chief financial officer owned 89,364 shares in the company, valued at approximately $10,272,391.80. The trade was a 1.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Justin K. Patrick sold 9,036 shares of the business's stock in a transaction dated 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 sale, the senior vice president owned 21,149 shares of the company's stock, valued at $2,575,313.73. The trade was a 29.94% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,905 shares of company stock worth $2,439,202. Corporate insiders own 1.51% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ITRI shares. TD Cowen lifted their price target on Itron from $139.00 to $145.00 and gave the stock a "buy" rating in a research note on Friday, June 20th. Guggenheim reaffirmed a "buy" rating and set a $133.00 price target on shares of Itron in a research note on Thursday, April 17th. Wall Street Zen downgraded shares of Itron from a "buy" rating to a "hold" rating in a research note on Sunday, June 1st. Finally, Piper Sandler cut their target price on shares of Itron from $124.00 to $121.00 and set a "neutral" rating for the company in a research note on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $128.18.

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.