Principal Financial Group Inc. lifted its stake in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 2.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 270,672 shares of the scientific and technical instruments company's stock after acquiring an additional 6,700 shares during the period. Principal Financial Group Inc. owned 0.59% of Itron worth $28,356,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. GeoWealth Management LLC boosted its holdings in Itron by 4,580.0% in the 4th quarter. GeoWealth Management LLC now owns 234 shares of the scientific and technical instruments company's stock worth $25,000 after acquiring an additional 229 shares during the period. Proficio Capital Partners LLC purchased a new stake in Itron during the 4th quarter worth approximately $30,000. CoreCap Advisors LLC raised its position in shares of Itron by 25.5% in the 4th quarter. CoreCap Advisors LLC now owns 616 shares of the scientific and technical instruments company's stock valued at $67,000 after purchasing an additional 125 shares in the last quarter. Contravisory Investment Management Inc. boosted its stake in shares of Itron by 98.0% during the 1st quarter. Contravisory Investment Management Inc. now owns 1,711 shares of the scientific and technical instruments company's stock valued at $179,000 after buying an additional 847 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC raised its stake in Itron by 43.1% during 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 buying an additional 548 shares in the last quarter. Institutional investors and hedge funds own 96.19% of the company's stock.
Wall Street Analysts Forecast Growth
ITRI has been the topic of several research reports. Wall Street Zen lowered shares of Itron from a "buy" rating to a "hold" rating in a research note on Sunday, June 1st. TD Cowen upped their price objective on Itron from $139.00 to $145.00 and gave the company a "buy" rating in a report on Friday, June 20th. Piper Sandler decreased their target price on Itron from $124.00 to $121.00 and set a "neutral" rating for the company in a research note on Monday, May 5th. Finally, Guggenheim reissued a "buy" rating and issued a $133.00 price target on shares of Itron in a report on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $128.18.
View Our Latest Stock Report on Itron
Insider Activity at Itron
In related news, SVP Justin K. Patrick sold 9,036 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $121.77, for a total value of $1,100,313.72. Following the completion of the transaction, the senior vice president owned 21,149 shares in the company, valued at $2,575,313.73. The trade was a 29.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP John F. Marcolini sold 3,783 shares of the firm'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 completion of the transaction, the senior vice president owned 21,865 shares in the company, valued at approximately $2,552,301.45. This represents a 14.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,905 shares of company stock valued at $2,439,202 in the last three months. 1.45% of the stock is currently owned by corporate insiders.
Itron Stock Performance
ITRI traded down $0.99 during trading on Friday, reaching $134.54. 396,647 shares of the company's stock were exchanged, compared to its average volume of 553,855. Itron, Inc. has a fifty-two week low of $90.11 and a fifty-two week high of $136.24. The company has a market capitalization of $6.13 billion, a P/E ratio of 24.55, a PEG ratio of 0.85 and a beta of 1.35. The company has a quick ratio of 1.65, a current ratio of 1.93 and a debt-to-equity ratio of 0.52. The business has a 50 day moving average price of $121.68 and a 200 day moving average price of $110.40.
Itron (NASDAQ:ITRI - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The scientific and technical instruments company reported $1.52 earnings per share for the quarter, beating analysts' consensus estimates of $1.30 by $0.22. Itron had a return on equity of 19.65% and a net margin of 10.34%. The company had revenue of $607.15 million for the quarter, compared to the consensus estimate of $608.86 million. During the same period in the previous year, the business earned $1.24 earnings per share. The company's quarterly revenue was up .6% on a year-over-year basis. As a group, analysts predict that Itron, Inc. will post 5.33 earnings per share for the current fiscal year.
Itron Profile
(
Free Report)
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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