Graphene Investments SAS Buys Shares of 26,000 Itron, Inc. (NASDAQ:ITRI)

Graphene Investments SAS purchased a new position in Itron, Inc. (NASDAQ:ITRI - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 26,000 shares of the scientific and technical instruments company's stock, valued at approximately $2,724,000. Itron makes up about 2.0% of Graphene Investments SAS's investment portfolio, making the stock its 29th biggest holding. Graphene Investments SAS owned 0.06% of Itron as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in ITRI. GeoWealth Management LLC grew its stake in Itron by 4,580.0% in 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 in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Itron during the 4th quarter valued at about $30,000. CoreCap Advisors LLC lifted its holdings in shares of 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 last quarter. Smartleaf Asset Management LLC grew its stake in shares of Itron by 347.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 886 shares of the scientific and technical instruments company's stock valued at $97,000 after buying an additional 688 shares in the last quarter. Finally, Contravisory Investment Management Inc. increased its holdings in Itron by 98.0% in 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 buying an additional 847 shares during the last quarter. 96.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Justin K. Patrick sold 9,036 shares of Itron stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $121.77, for a total transaction of $1,100,313.72. Following the sale, the senior vice president now owns 21,149 shares of the company's stock, valued at approximately $2,575,313.73. This trade represents a 29.94% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary C. Hemmingsen sold 5,150 shares of the company's stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $108.70, for a total value of $559,805.00. Following the completion of the transaction, the director now owns 952 shares of the company's stock, valued at $103,482.40. The trade was a 84.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,905 shares of company stock valued at $2,439,202. 1.45% of the stock is owned by company insiders.

Itron Trading Up 1.2%

Shares of NASDAQ:ITRI opened at $132.78 on Friday. 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's 50-day moving average is $115.81 and its 200-day moving average is $108.64. The company has a market cap of $6.05 billion, a P/E ratio of 24.23, a P/E/G ratio of 0.83 and a beta of 1.33. Itron, Inc. has a 52-week low of $90.11 and a 52-week high of $134.09.

Itron (NASDAQ:ITRI - Get Free Report) last released its earnings results on Thursday, May 1st. The scientific and technical instruments company reported $1.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.30 by $0.22. The firm had revenue of $607.15 million for the quarter, compared to analyst estimates of $608.86 million. Itron had a return on equity of 19.65% and a net margin of 10.34%. The company's revenue was up .6% on a year-over-year basis. During the same quarter last year, the firm posted $1.24 EPS. Equities research analysts predict that Itron, Inc. will post 5.33 earnings per share for the current year.

Analysts Set New Price Targets

ITRI has been the subject of several recent research reports. TD Cowen boosted their target price on shares of Itron from $139.00 to $145.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. Wall Street Zen cut shares of Itron from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. Guggenheim reissued a "buy" rating and set a $133.00 target price on shares of Itron in a research report on Thursday, April 17th. Finally, Piper Sandler reduced their price target on Itron from $124.00 to $121.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price 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.

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