GAMMA Investing LLC Increases Holdings in Itron, Inc. (NASDAQ:ITRI)

GAMMA Investing LLC increased its holdings in Itron, Inc. (NASDAQ:ITRI - Free Report) by 10,278.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 122,150 shares of the scientific and technical instruments company's stock after purchasing an additional 120,973 shares during the quarter. GAMMA Investing LLC owned approximately 0.27% of Itron worth $12,796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Wellington Management Group LLP boosted its position in 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 valued at $36,197,000 after acquiring an additional 214,600 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its position in Itron by 41.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 2,955 shares of the scientific and technical instruments company's stock valued at $321,000 after acquiring an additional 867 shares in the last quarter. Menard Financial Group LLC boosted its position in Itron by 12.2% during the 4th quarter. Menard Financial Group LLC now owns 5,684 shares of the scientific and technical instruments company's stock valued at $617,000 after acquiring an additional 619 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Itron during the 4th quarter valued at approximately $14,563,000. Finally, Virtue Capital Management LLC boosted its position in Itron by 5.4% during the 4th quarter. Virtue Capital Management LLC now owns 8,249 shares of the scientific and technical instruments company's stock valued at $896,000 after acquiring an additional 419 shares in the last quarter. 96.19% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Itron news, Director Mary C. Hemmingsen sold 5,150 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $108.70, for a total transaction 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. This represents a 84.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Joan S. Hooper sold 938 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $114.95, for a total transaction of $107,823.10. Following the transaction, the chief financial officer now directly owns 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 disclosure for this sale can be found here. In the last quarter, insiders sold 11,869 shares of company stock valued at $1,338,888. Company insiders own 1.45% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ITRI shares. Wall Street Zen cut Itron from a "buy" rating to a "hold" rating in a research report on Sunday, June 1st. Oppenheimer lifted their target price on shares of Itron from $124.00 to $131.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Piper Sandler lowered their target price on shares of Itron from $124.00 to $121.00 and set a "neutral" rating for the company in a report on Monday, May 5th. Guggenheim reiterated a "buy" rating and set a $133.00 target price on shares of Itron in a report on Thursday, April 17th. Finally, Canaccord Genuity Group lifted their target price on shares of Itron from $130.00 to $132.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, Itron presently has a consensus rating of "Moderate Buy" and an average price target of $127.36.

Itron Stock Performance

Shares of ITRI stock traded up $1.05 during mid-day trading on Friday, reaching $120.56. 413,253 shares of the company's stock traded hands, compared to its average volume of 582,166. Itron, Inc. has a 12 month low of $90.11 and a 12 month high of $124.90. The firm has a 50 day moving average price of $108.22 and a two-hundred day moving average price of $107.75. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36. The firm has a market capitalization of $5.50 billion, a PE ratio of 24.70, a price-to-earnings-growth ratio of 0.81 and a beta of 1.33.

Itron (NASDAQ:ITRI - Get Free Report) last issued its quarterly earnings data 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. Itron had a net margin of 9.37% and a return on equity of 19.03%. The firm had revenue of $607.15 million during the quarter, compared to the consensus estimate of $608.86 million. During the same quarter in the previous year, the firm posted $1.24 EPS. The company's revenue for the quarter was up .6% compared to the same quarter last year. On average, research analysts forecast that Itron, Inc. will post 5.33 EPS for the current year.

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.