Oppenheimer & Co. Inc. Has $1.56 Million Holdings in Itron, Inc. (NASDAQ:ITRI)

Oppenheimer & Co. Inc. cut its stake in Itron, Inc. (NASDAQ:ITRI - Free Report) by 27.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,884 shares of the scientific and technical instruments company's stock after selling 5,503 shares during the period. Oppenheimer & Co. Inc.'s holdings in Itron were worth $1,559,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. GeoWealth Management LLC raised its holdings in shares of 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 buying an additional 229 shares in the last quarter. CoreCap Advisors LLC raised its holdings 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 worth $67,000 after buying an additional 125 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Itron by 347.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 886 shares of the scientific and technical instruments company's stock valued at $97,000 after purchasing an additional 688 shares in the last quarter. Contravisory Investment Management Inc. increased its holdings in 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 purchasing an additional 847 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its holdings in Itron by 43.1% during the 4th 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 purchasing an additional 548 shares in the last quarter. 96.19% of the stock is owned by institutional investors and hedge funds.

Itron Trading Down 0.2%

ITRI traded down $0.32 during mid-day trading on Friday, reaching $132.46. The stock had a trading volume of 1,103,162 shares, compared to its average volume of 565,261. The stock has a market capitalization of $6.04 billion, a P/E ratio of 24.17, a P/E/G ratio of 0.84 and a beta of 1.33. 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 firm's fifty day simple moving average is $116.39 and its two-hundred day simple moving average is $108.77. Itron, Inc. has a 52 week low of $90.11 and a 52 week high of $134.52.

Itron (NASDAQ:ITRI - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $607.15 million for the quarter, compared to analyst estimates of $608.86 million. Itron had a return on equity of 19.65% and a net margin of 10.34%. The business's quarterly revenue was up .6% compared to the same quarter last year. During the same period last year, the company earned $1.24 EPS. On average, equities analysts predict that Itron, Inc. will post 5.33 EPS for the current year.

Insider Transactions at Itron

In related news, SVP Justin K. Patrick sold 9,036 shares of Itron stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $121.77, for a total transaction of $1,100,313.72. Following the completion of the sale, the senior vice president now directly owns 21,149 shares of the company's stock, valued at $2,575,313.73. The trade was a 29.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Christopher E. Ware sold 339 shares of Itron stock in a transaction 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 sale, the senior vice president now directly owns 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. Insiders have sold 20,905 shares of company stock worth $2,439,202 in the last three months. Insiders own 1.45% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ITRI. TD Cowen raised 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. Guggenheim reaffirmed a "buy" rating and set a $133.00 price target on shares of Itron in a report on Thursday, April 17th. Piper Sandler dropped their price target on Itron from $124.00 to $121.00 and set a "neutral" rating for the company in a report on Monday, May 5th. Finally, Wall Street Zen cut Itron from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently 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.