Itron, Inc. (NASDAQ:ITRI) Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC boosted its stake in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 8.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,638 shares of the scientific and technical instruments company's stock after buying an additional 2,244 shares during the quarter. Sequoia Financial Advisors LLC owned 0.06% of Itron worth $2,895,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ITRI. 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 valued at $25,000 after buying an additional 229 shares during the period. Proficio Capital Partners LLC purchased a new stake in Itron during the fourth quarter worth about $30,000. CoreCap Advisors LLC lifted its position in shares of Itron by 25.5% during the fourth quarter. CoreCap Advisors LLC now owns 616 shares of the scientific and technical instruments company's stock worth $67,000 after purchasing an additional 125 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Itron by 347.5% in the fourth 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 during the period. Finally, Contravisory Investment Management Inc. grew its holdings in shares of Itron by 98.0% in 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 currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Mary C. Hemmingsen sold 5,150 shares of Itron stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $108.70, for a total transaction of $559,805.00. Following the completion of the transaction, the director now directly owns 952 shares in the company, valued at $103,482.40. The trade was a 84.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Justin K. Patrick sold 9,036 shares of the firm's stock in a transaction on 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 20,905 shares of company stock worth $2,439,202 over the last 90 days. 1.45% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ITRI shares. Piper Sandler reduced their price objective on Itron from $124.00 to $121.00 and set a "neutral" rating on the stock in a research note on Monday, May 5th. TD Cowen lifted their price target on shares of Itron from $139.00 to $145.00 and gave the stock a "buy" rating in a research note on Friday, June 20th. Wall Street Zen lowered shares of Itron from a "buy" rating to a "hold" rating in a research report on Sunday, June 1st. Finally, Guggenheim restated a "buy" rating and issued a $133.00 price target on shares of Itron in a research report on Thursday, April 17th. 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.com, Itron presently has an average rating of "Moderate Buy" and a consensus target price of $128.18.

Itron Price Performance

ITRI traded down $1.57 on Monday, hitting $130.89. 35,806 shares of the company were exchanged, compared to its average volume of 557,607. Itron, Inc. has a fifty-two week low of $90.11 and a fifty-two week high of $134.52. 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 has a market capitalization of $5.97 billion, a P/E ratio of 23.86, a price-to-earnings-growth ratio of 0.84 and a beta of 1.33. The business's fifty day moving average is $116.39 and its 200 day moving average is $108.71.

Itron (NASDAQ:ITRI - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The scientific and technical instruments company reported $1.52 earnings per share for the quarter, topping analysts' consensus estimates of $1.30 by $0.22. Itron had a return on equity of 19.65% and a net margin of 10.34%. The business 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 firm posted $1.24 EPS. The company's revenue was up .6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Itron, Inc. will post 5.33 EPS 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.