Invesco Ltd. Has $242.08 Million Position in Itron, Inc. (NASDAQ:ITRI)

Key Points

• Invesco Ltd. increased its stake in Itron, Inc. by 2.7%, holding approximately 5.07% of the company with 2,310,769 shares valued at $242,076,000.
• Institutional investors own a significant majority of Itron, with 96.19% of the company's stock held by them, reflecting strong interest in the company.
• Analysts have given Itron an average rating of "Moderate Buy" with a consensus target price of $136.25, indicating optimism about the company's future performance.

Invesco Ltd. grew its holdings in Itron, Inc. (NASDAQ:ITRI - Free Report) by 2.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,310,769 shares of the scientific and technical instruments company's stock after acquiring an additional 59,962 shares during the quarter. Invesco Ltd. owned 5.07% of Itron worth $242,076,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Benjamin Edwards Inc. bought a new stake in shares of Itron in the first quarter valued at about $281,000. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Itron by 216.3% in the first quarter. Connor Clark & Lunn Investment Management Ltd. now owns 59,503 shares of the scientific and technical instruments company's stock valued at $6,234,000 after acquiring an additional 40,693 shares during the period. Bank of Nova Scotia boosted its position in shares of Itron by 4.5% in the first quarter. Bank of Nova Scotia now owns 219,430 shares of the scientific and technical instruments company's stock valued at $22,987,000 after acquiring an additional 9,522 shares during the period. Banco Santander S.A. boosted its position in shares of Itron by 2.5% in the first quarter. Banco Santander S.A. now owns 203,000 shares of the scientific and technical instruments company's stock valued at $21,266,000 after acquiring an additional 5,000 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in shares of Itron by 10.1% in the first quarter. PNC Financial Services Group Inc. now owns 6,153 shares of the scientific and technical instruments company's stock valued at $645,000 after acquiring an additional 566 shares during the period. Institutional investors own 96.19% of the company's stock.

Insider Activity

In other news, CFO Joan S. Hooper sold 938 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were 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 of the company's stock, valued at $10,272,391.80. This trade represents a 1.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP John F. Marcolini sold 3,783 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $116.73, for a total transaction of $441,589.59. Following the sale, the senior vice president directly owned 21,865 shares of the company's stock, valued at approximately $2,552,301.45. This trade represents a 14.75% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,755 shares of company stock worth $1,879,397. 1.45% of the stock is owned by insiders.

Itron Price Performance

Shares of ITRI stock traded up $0.91 on Friday, reaching $126.28. The company had a trading volume of 415,545 shares, compared to its average volume of 698,423. The stock has a market capitalization of $5.77 billion, a PE ratio of 21.59, a price-to-earnings-growth 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 one year low of $90.11 and a one year high of $140.04. The business's 50-day moving average is $130.25 and its 200 day moving average is $114.54.

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

Analyst Ratings Changes

ITRI has been the subject of a number of recent research reports. Roth Capital boosted their target price on shares of Itron from $130.00 to $150.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Piper Sandler decreased their target price on shares of Itron from $124.00 to $121.00 and set a "neutral" rating on the stock in a report on Monday, May 5th. Stephens set a $130.00 target price on shares of Itron in a report on Monday, August 4th. Wall Street Zen raised shares of Itron from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. Finally, TD Cowen raised their target price on shares of Itron from $139.00 to $145.00 and gave the company a "buy" rating in a report on Friday, June 20th. 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, Itron presently has an average rating of "Moderate Buy" and an average target price of $136.25.

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.