Peregrine Capital Management LLC Has $9.98 Million Position in Itron, Inc. (NASDAQ:ITRI)

Peregrine Capital Management LLC boosted its holdings in Itron, Inc. (NASDAQ:ITRI - Free Report) by 13.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 95,251 shares of the scientific and technical instruments company's stock after buying an additional 11,463 shares during the period. Peregrine Capital Management LLC owned 0.21% of Itron worth $9,978,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ITRI. Allspring Global Investments Holdings LLC increased its position in Itron by 54.0% during the first quarter. Allspring Global Investments Holdings LLC now owns 6,278 shares of the scientific and technical instruments company's stock worth $658,000 after purchasing an additional 2,201 shares during the last quarter. Graphene Investments SAS acquired a new position in Itron in the first quarter valued at $2,724,000. Sequoia Financial Advisors LLC grew its position in Itron by 8.8% during the first quarter. Sequoia Financial Advisors LLC now owns 27,638 shares of the scientific and technical instruments company's stock valued at $2,895,000 after acquiring an additional 2,244 shares during the period. Asset Management One Co. Ltd. acquired a new stake in Itron during the first quarter worth about $320,000. Finally, Illumine Investment Management LLC increased its stake in Itron by 3.6% during the first quarter. Illumine Investment Management LLC now owns 7,227 shares of the scientific and technical instruments company's stock worth $757,000 after acquiring an additional 252 shares during the last quarter. Hedge funds and other institutional investors own 96.19% of the company's stock.

Insider Buying and Selling

In other news, CFO Joan S. Hooper sold 938 shares of Itron stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $114.95, for a total value of $107,823.10. Following the transaction, the chief financial officer owned 89,364 shares of the company's stock, valued at $10,272,391.80. The trade was a 1.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Donald L. Reeves III sold 529 shares of Itron stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $114.95, for a total transaction of $60,808.55. Following the sale, the senior vice president directly owned 20,151 shares of the company's stock, valued at $2,316,357.45. This trade represents a 2.56% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,905 shares of company stock valued at $2,439,202. Company insiders own 1.51% of the company's stock.

Itron Stock Performance

Shares of NASDAQ ITRI traded up $0.94 during trading on Tuesday, reaching $132.57. The stock had a trading volume of 449,916 shares, compared to its average volume of 560,869. 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 $6.04 billion, a PE ratio of 24.19, a P/E/G ratio of 0.83 and a beta of 1.35. Itron, Inc. has a one year low of $90.11 and a one year high of $134.52. The firm's 50 day moving average price is $117.56 and its two-hundred day moving average price is $109.02.

Itron (NASDAQ:ITRI - Get Free Report) last issued its earnings results 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. The company had revenue of $607.15 million during the quarter, compared to the consensus estimate of $608.86 million. Itron had a return on equity of 19.65% and a net margin of 10.34%. Itron's quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.24 earnings per share. On average, research analysts forecast that Itron, Inc. will post 5.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Guggenheim reaffirmed a "buy" rating and issued a $133.00 price objective on shares of Itron in a research note on Thursday, April 17th. TD Cowen lifted their price target on shares of Itron from $139.00 to $145.00 and gave the company a "buy" rating in a research report on Friday, June 20th. Piper Sandler decreased their price objective 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. Finally, Wall Street Zen lowered Itron from a "buy" rating to a "hold" rating in a research note on Sunday, June 1st. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $128.18.

Itron 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.