California First Leasing Corp Increases Stake in Itron, Inc. (NASDAQ:ITRI)

California First Leasing Corp boosted its stake in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 220.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,950 shares of the scientific and technical instruments company's stock after purchasing an additional 18,550 shares during the quarter. Itron comprises approximately 1.2% of California First Leasing Corp's investment portfolio, making the stock its 28th biggest position. California First Leasing Corp owned about 0.06% of Itron worth $2,823,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Proficio Capital Partners LLC acquired a new position in Itron in the fourth quarter valued at about $30,000. Smartleaf Asset Management LLC raised its stake in Itron by 347.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 886 shares of the scientific and technical instruments company's stock valued at $97,000 after purchasing an additional 688 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in Itron by 43.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,820 shares of the scientific and technical instruments company's stock valued at $198,000 after purchasing an additional 548 shares in the last quarter. Atria Investments Inc raised its stake in Itron by 7.5% in the fourth quarter. Atria Investments Inc now owns 9,311 shares of the scientific and technical instruments company's stock valued at $1,011,000 after purchasing an additional 651 shares in the last quarter. Finally, Bank Julius Baer & Co. Ltd Zurich raised its stake in Itron by 7.4% in the fourth quarter. Bank Julius Baer & Co. Ltd Zurich now owns 3,081 shares of the scientific and technical instruments company's stock valued at $369,000 after purchasing an additional 213 shares in the last quarter. 96.19% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, SVP John F. Marcolini sold 3,783 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $116.73, for a total value of $441,589.59. Following the transaction, the senior vice president directly owned 21,865 shares of the company's stock, valued at approximately $2,552,301.45. The trade was a 14.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Joan S. Hooper sold 938 shares of Itron stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $114.95, for a total value of $107,823.10. Following the completion of the sale, the chief financial officer directly owned 89,364 shares of the company's stock, valued at approximately $10,272,391.80. This trade represents a 1.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,905 shares of company stock worth $2,439,202 in the last ninety days. Corporate insiders own 1.45% of the company's stock.

Analysts Set New Price Targets

ITRI has been the subject of several research analyst reports. TD Cowen boosted their target price on Itron from $139.00 to $145.00 and gave the stock a "buy" rating in a research note on Friday, June 20th. Piper Sandler lowered their price objective on Itron from $124.00 to $121.00 and set a "neutral" rating for the company in a research note on Monday, May 5th. Guggenheim reaffirmed a "buy" rating and issued a $133.00 price objective on shares of Itron in a research note on Thursday, April 17th. Finally, Wall Street Zen downgraded Itron from a "buy" rating to a "hold" rating in a research note on Sunday, June 1st. 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 stock currently has an average rating of "Moderate Buy" and a consensus target price of $128.18.

Itron Trading Up 0.6%

Shares of Itron stock traded up $0.78 on Thursday, reaching $135.53. 360,592 shares of the company's stock were exchanged, compared to its average volume of 560,673. The company has a market capitalization of $6.18 billion, a P/E ratio of 24.73, a price-to-earnings-growth ratio of 0.84 and a beta of 1.35. Itron, Inc. has a 52 week low of $90.11 and a 52 week high of $136.24. The firm's 50-day moving average is $120.60 and its two-hundred day moving average is $110.05. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.65 and a current ratio of 1.93.

Itron (NASDAQ:ITRI - Get Free Report) last issued its earnings results on Thursday, May 1st. The scientific and technical instruments company reported $1.52 earnings per share for the quarter, topping analysts' consensus estimates of $1.30 by $0.22. The company 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%. Itron's revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.24 earnings per share. Sell-side analysts predict that Itron, Inc. will post 5.33 EPS for the current fiscal 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.