SG Americas Securities LLC Grows Stock Position in Itron, Inc. (NASDAQ:ITRI)

SG Americas Securities LLC raised its holdings in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 398.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,833 shares of the scientific and technical instruments company's stock after acquiring an additional 5,463 shares during the period. SG Americas Securities LLC's holdings in Itron were worth $716,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. GeoWealth Management LLC boosted its holdings in Itron by 4,580.0% during the 4th quarter. GeoWealth Management LLC now owns 234 shares of the scientific and technical instruments company's stock valued at $25,000 after acquiring an additional 229 shares during the period. CoreCap Advisors LLC increased its holdings in Itron by 25.5% during 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 during the period. Smartleaf Asset Management LLC lifted its holdings in Itron by 347.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 886 shares of the scientific and technical instruments company's stock worth $97,000 after buying an additional 688 shares during the period. Contravisory Investment Management Inc. grew its position in shares of Itron by 98.0% in the 1st quarter. Contravisory Investment Management Inc. now owns 1,711 shares of the scientific and technical instruments company's stock worth $179,000 after buying an additional 847 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of 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 during the period. 96.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ITRI has been the topic of several recent analyst reports. Piper Sandler cut their price target 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. Canaccord Genuity Group raised their price objective on shares of Itron from $130.00 to $132.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Guggenheim reaffirmed a "buy" rating and set a $133.00 price objective on shares of Itron in a research report on Thursday, April 17th. TD Cowen raised their target price on Itron from $139.00 to $145.00 and gave the company a "buy" rating in a research note on Friday. Finally, Oppenheimer upped their price target on Itron from $124.00 to $131.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $128.18.

Insiders Place Their Bets

In other Itron news, SVP Justin K. Patrick sold 9,036 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was 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 now owns 21,149 shares of the company's stock, valued at approximately $2,575,313.73. The trade was a 29.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John F. Marcolini sold 3,783 shares of Itron 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 completion of the sale, the senior vice president now owns 21,865 shares of the company's stock, valued at $2,552,301.45. This represents a 14.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,905 shares of company stock valued at $2,439,202. Corporate insiders own 1.51% of the company's stock.

Itron Stock Down 0.2%

Itron stock traded down $0.31 during mid-day trading on Tuesday, reaching $130.50. The stock had a trading volume of 651,536 shares, compared to its average volume of 565,817. Itron, Inc. has a one year low of $90.11 and a one year high of $132.50. The company has a 50-day moving average price of $114.06 and a two-hundred day moving average price of $108.20. The company has a market capitalization of $5.95 billion, a price-to-earnings ratio of 23.81, a PEG ratio of 0.81 and a beta of 1.33. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.93 and a quick ratio of 1.65.

Itron (NASDAQ:ITRI - Get Free Report) last posted its quarterly 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. Itron had a net margin of 10.34% and a return on equity of 19.65%. The firm had revenue of $607.15 million for the quarter, compared to analysts' expectations of $608.86 million. During the same quarter in the prior year, the company posted $1.24 earnings per share. The business's revenue for the quarter was up .6% on a year-over-year basis. On average, analysts expect 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.