Jefferies Financial Group Inc. Purchases Shares of 7,032 Itron, Inc. (NASDAQ:ITRI)

Key Points

• Jefferies Financial Group Inc. has acquired 7,032 shares of Itron, Inc. valued at approximately $737,000, reflecting growing institutional interest in the company.
• Various equity analysts have adjusted their price targets for Itron, with JPMorgan Chase upgrading the stock to "overweight" and raising the target from $128.00 to $145.00.
• Itron's recent quarterly earnings beat analysts' expectations with $1.62 EPS, although revenue fell slightly by .4% compared to the previous year at $606.76 million.

Jefferies Financial Group Inc. purchased a new stake in Itron, Inc. (NASDAQ:ITRI - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 7,032 shares of the scientific and technical instruments company's stock, valued at approximately $737,000.

Other large investors have also modified their holdings of the company. First Trust Advisors LP lifted its position in Itron by 9.1% during the fourth quarter. First Trust Advisors LP now owns 802,584 shares of the scientific and technical instruments company's stock worth $87,145,000 after buying an additional 66,637 shares during the period. Northern Trust Corp boosted its holdings in Itron by 11.4% in the 4th quarter. Northern Trust Corp now owns 572,266 shares of the scientific and technical instruments company's stock worth $62,137,000 after acquiring an additional 58,546 shares during the period. Nuveen Asset Management LLC increased its stake in Itron by 21.5% during the 4th quarter. Nuveen Asset Management LLC now owns 560,478 shares of the scientific and technical instruments company's stock worth $60,857,000 after buying an additional 99,142 shares during the period. Janus Henderson Group PLC boosted its stake in shares of Itron by 2.4% during the 4th quarter. Janus Henderson Group PLC now owns 536,288 shares of the scientific and technical instruments company's stock valued at $58,233,000 after buying an additional 12,810 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Itron by 3.1% in the fourth quarter. Renaissance Technologies LLC now owns 350,461 shares of the scientific and technical instruments company's stock valued at $38,053,000 after buying an additional 10,400 shares during the last quarter. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Itron news, SVP John F. Marcolini sold 3,783 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $116.73, for a total value of $441,589.59. Following the sale, the senior vice president owned 21,865 shares of the company's stock, valued at $2,552,301.45. This trade represents a 14.75% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Christopher E. Ware sold 339 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $114.95, for a total value of $38,968.05. Following the transaction, the senior vice president owned 19,468 shares of the company's stock, valued at approximately $2,237,846.60. This trade represents a 1.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,755 shares of company stock worth $1,879,397. Insiders own 1.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ITRI. Wall Street Zen raised Itron from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. JPMorgan Chase & Co. upgraded Itron from a "neutral" rating to an "overweight" rating and raised their target price for the company from $128.00 to $145.00 in a research note on Thursday, July 31st. Piper Sandler lowered their price target on shares of Itron from $124.00 to $121.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. TD Cowen lifted their price target on Itron from $139.00 to $145.00 and gave the company a "buy" rating in a report on Friday, June 20th. Finally, Roth Capital increased their price target on Itron from $130.00 to $150.00 and gave the stock a "buy" rating in a research note on Tuesday, July 22nd. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $136.25.

Itron Stock Down 0.5%

Itron stock traded down $0.57 during mid-day trading on Thursday, hitting $124.68. The company's stock had a trading volume of 722,540 shares, compared to its average volume of 711,975. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.04 and a quick ratio of 1.75. Itron, Inc. has a 52-week low of $90.11 and a 52-week high of $140.04. The firm's 50 day moving average is $129.37 and its 200 day moving average is $113.68. The company has a market cap of $5.70 billion, a PE ratio of 19.79, a price-to-earnings-growth ratio of 0.69 and a beta of 1.35.

Itron (NASDAQ:ITRI - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The scientific and technical instruments company reported $1.62 EPS for the quarter, topping the consensus estimate of $1.33 by $0.29. Itron had a net margin of 11.05% and a return on equity of 19.69%. The company had revenue of $606.76 million for the quarter, compared to analyst estimates of $610.36 million. During the same quarter in the prior year, the business posted $1.21 EPS. Itron's quarterly revenue was down .4% on a year-over-year basis. On average, analysts anticipate that Itron, Inc. will post 5.33 earnings per share for the current year.

About Itron

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.