Navellier & Associates Inc. Has $826,000 Stake in Itron, Inc. (NASDAQ:ITRI)

Key Points

• Navellier & Associates Inc. reduced its stake in Itron, Inc. by 22.4%, owning 7,683 shares valued at $826,000 as of its latest SEC filing.
• Institutional investors collectively own 96.19% of Itron's stock, with various firms significantly increasing their holdings, notably GeoWealth Management LLC raising its stake by 4,580.0%.
• A number of analysts have adjusted their price targets for Itron, with Piper Sandler lowering it from $124.00 to $121.00, while Guggenheim increased its target from $133.00 to $155.00, reflecting varied outlooks on the stock's performance.

Navellier & Associates Inc. reduced its position in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 22.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,683 shares of the scientific and technical instruments company's stock after selling 2,224 shares during the period. Navellier & Associates Inc.'s holdings in Itron were worth $826,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ITRI. 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 valued at $25,000 after purchasing an additional 229 shares during the period. Proficio Capital Partners LLC bought a new stake in Itron in the 4th quarter valued at $30,000. Wayfinding Financial LLC acquired a new position in shares of Itron in the 1st quarter valued at $45,000. CoreCap Advisors LLC raised its stake 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 buying an additional 125 shares in the last quarter. Finally, Contravisory Investment Management Inc. raised its stake 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 valued at $179,000 after buying an additional 847 shares in the last quarter. 96.19% of the stock is owned by institutional investors.

Itron Stock Performance

NASDAQ ITRI traded up $1.98 on Friday, hitting $135.97. 533,381 shares of the stock were exchanged, compared to its average volume of 436,255. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.93 and a quick ratio of 1.65. The business's fifty day moving average is $126.68 and its 200 day moving average is $112.25. Itron, Inc. has a 52 week low of $90.11 and a 52 week high of $137.99. The company has a market capitalization of $6.20 billion, a PE ratio of 24.81, a P/E/G ratio of 0.86 and a beta of 1.35.

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 EPS for the quarter, beating the consensus estimate 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 the consensus estimate of $608.86 million. During the same period in the previous year, the company earned $1.24 earnings per share. The company's quarterly revenue was up .6% on a year-over-year basis. Research analysts anticipate that Itron, Inc. will post 5.33 EPS for the current fiscal year.

Insider Transactions at Itron

In other Itron news, SVP Justin K. Patrick sold 9,036 shares of the company's stock in a transaction 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 transaction, the senior vice president directly owned 21,149 shares in the company, valued at $2,575,313.73. The trade was a 29.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP John F. Marcolini sold 3,783 shares of the company's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $116.73, for a total transaction 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 ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,905 shares of company stock valued at $2,439,202. Corporate insiders own 1.51% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on ITRI shares. Guggenheim restated a "buy" rating and issued a $155.00 price objective (up previously from $133.00) on shares of Itron in a research note on Monday, July 14th. Roth Capital lifted their price target on shares of Itron from $130.00 to $150.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. Piper Sandler cut their price target on shares of Itron from $124.00 to $121.00 and set a "neutral" rating for the company in a report on Monday, May 5th. Wall Street Zen downgraded shares of Itron from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Itron from $118.00 to $128.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, Itron has an average rating of "Moderate Buy" and an average target price of $133.17.

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.