Sowell Financial Services LLC Invests $266,000 in Itron, Inc. (NASDAQ:ITRI)

Sowell Financial Services LLC purchased a new stake in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 2,535 shares of the scientific and technical instruments company's stock, valued at approximately $266,000.

Several other institutional investors also recently bought and sold shares of the stock. Intech Investment Management LLC grew its stake in shares of Itron by 112.7% during the 4th quarter. Intech Investment Management LLC now owns 41,363 shares of the scientific and technical instruments company's stock worth $4,491,000 after purchasing an additional 21,919 shares during the period. Wellington Management Group LLP grew its position in Itron by 180.7% during the fourth quarter. Wellington Management Group LLP now owns 333,363 shares of the scientific and technical instruments company's stock valued at $36,197,000 after buying an additional 214,600 shares during the period. HighTower Advisors LLC increased its holdings in Itron by 143.2% in the fourth quarter. HighTower Advisors LLC now owns 7,355 shares of the scientific and technical instruments company's stock valued at $799,000 after buying an additional 4,331 shares in the last quarter. Schroder Investment Management Group raised its position in shares of Itron by 42.1% in the fourth quarter. Schroder Investment Management Group now owns 253,526 shares of the scientific and technical instruments company's stock worth $27,528,000 after acquiring an additional 75,166 shares during the period. Finally, Lazard Asset Management LLC raised its position in shares of Itron by 276.6% in the fourth quarter. Lazard Asset Management LLC now owns 26,408 shares of the scientific and technical instruments company's stock worth $2,867,000 after acquiring an additional 19,395 shares during the period. 96.19% of the stock is currently owned by hedge funds and other institutional investors.

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 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 now directly owns 19,468 shares in the company, valued at approximately $2,237,846.60. This represents a 1.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mary C. Hemmingsen sold 5,150 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $108.70, for a total value of $559,805.00. Following the completion of the transaction, the director now owns 952 shares of the company's stock, valued at $103,482.40. The trade was a 84.40% 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. 1.45% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Guggenheim restated a "buy" rating and issued a $133.00 price target on shares of Itron in a research note on Thursday, April 17th. TD Cowen raised their price objective on Itron from $139.00 to $145.00 and gave the company a "buy" rating in a report on Friday, June 20th. Piper Sandler cut their price objective on Itron from $124.00 to $121.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. Canaccord Genuity Group increased their target price on Itron from $130.00 to $132.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Finally, Wall Street Zen cut shares of Itron from a "buy" rating to a "hold" rating in a research note 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's stock. According to MarketBeat.com, Itron currently has a consensus rating of "Moderate Buy" and an average price target of $128.18.

Itron Price Performance

ITRI traded up $0.75 on Wednesday, hitting $131.25. 362,705 shares of the company's stock were exchanged, compared to its average volume of 564,143. The firm has a 50-day moving average price of $115.22 and a 200-day moving average price of $108.52. The stock has a market cap of $5.98 billion, a price-to-earnings ratio of 23.95, a P/E/G ratio of 0.83 and a beta of 1.33. 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, Inc. has a fifty-two week low of $90.11 and a fifty-two week high of $132.49.

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 earnings per share (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 company 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 earned $1.24 EPS. Itron's revenue was up .6% compared to the same quarter last year. As a group, equities analysts anticipate that Itron, Inc. will post 5.33 earnings per share for the current year.

Itron Company 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.