Segall Bryant & Hamill LLC Acquires Shares of 68,907 Itron, Inc. (NASDAQ:ITRI)

Segall Bryant & Hamill LLC acquired a new position in Itron, Inc. (NASDAQ:ITRI - Free Report) in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 68,907 shares of the scientific and technical instruments company's stock, valued at approximately $7,219,000. Segall Bryant & Hamill LLC owned approximately 0.15% of Itron at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. GeoWealth Management LLC raised its holdings in shares of Itron by 4,580.0% during the fourth 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 in the last quarter. Proficio Capital Partners LLC acquired a new stake in Itron during the fourth quarter worth about $30,000. Wayfinding Financial LLC acquired a new stake in Itron during the first quarter worth about $45,000. CoreCap Advisors LLC boosted its holdings in Itron by 25.5% during the fourth 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. Finally, Contravisory Investment Management Inc. boosted its holdings in Itron by 98.0% during the first 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. 96.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ITRI has been the subject of a number of research analyst reports. Guggenheim reiterated a "buy" rating and issued a $155.00 target price (up previously from $133.00) on shares of Itron in a research note on Monday. Piper Sandler dropped their target price 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 upped their price objective on shares of Itron from $139.00 to $145.00 and gave the company a "buy" rating in a research report on Friday, June 20th. Finally, Wall Street Zen cut Itron from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $132.00.

Itron Price Performance

NASDAQ ITRI opened at $136.61 on Friday. The firm has a market capitalization of $6.23 billion, a P/E ratio of 24.93, a P/E/G ratio of 0.86 and a beta of 1.35. The firm's fifty day simple moving average is $123.98 and its two-hundred day simple moving average is $111.12. Itron, Inc. has a 12-month low of $90.11 and a 12-month high of $137.68. The company has a current ratio of 1.93, a quick ratio of 1.65 and a debt-to-equity ratio of 0.52.

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 earnings per share 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 business had revenue of $607.15 million during the quarter, compared to analysts' expectations of $608.86 million. During the same quarter in the prior year, the company posted $1.24 EPS. The business's revenue for the quarter was up .6% on a year-over-year basis. Analysts forecast that Itron, Inc. will post 5.33 EPS for the current fiscal year.

Insider Activity at Itron

In related news, SVP Christopher E. Ware sold 339 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $114.95, for a total transaction 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 represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Donald L. Reeves III sold 529 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 transaction of $60,808.55. Following the transaction, the senior vice president directly owned 20,151 shares of the company's stock, valued at $2,316,357.45. This trade represents a 2.56% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,905 shares of company stock worth $2,439,202. 1.45% of the stock is currently owned by company insiders.

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.

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