Tema Etfs LLC Takes Position in Itron, Inc. (NASDAQ:ITRI)

Tema Etfs LLC acquired a new position in Itron, Inc. (NASDAQ:ITRI - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 4,760 shares of the scientific and technical instruments company's stock, valued at approximately $517,000.

Several other large investors also recently added to or reduced their stakes in the business. SIR Capital Management L.P. grew its stake in shares of Itron by 25.6% during the 4th quarter. SIR Capital Management L.P. now owns 59,305 shares of the scientific and technical instruments company's stock valued at $6,439,000 after acquiring an additional 12,105 shares during the period. Royal Bank of Canada boosted its stake in shares of Itron by 0.5% in the fourth quarter. Royal Bank of Canada now owns 222,894 shares of the scientific and technical instruments company's stock worth $24,202,000 after acquiring an additional 1,014 shares during the period. Raiffeisen Bank International AG bought a new stake in Itron during the 4th quarter valued at approximately $27,619,000. ProShare Advisors LLC grew its stake in Itron by 42.4% during the fourth quarter. ProShare Advisors LLC now owns 13,613 shares of the scientific and technical instruments company's stock valued at $1,478,000 after acquiring an additional 4,050 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in Itron by 21.5% in the 4th quarter. Nuveen Asset Management LLC now owns 560,478 shares of the scientific and technical instruments company's stock worth $60,857,000 after purchasing an additional 99,142 shares in the last quarter. 96.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on ITRI shares. StockNews.com cut shares of Itron from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 1st. Oppenheimer increased their target price on Itron from $124.00 to $131.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Piper Sandler dropped 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. Canaccord Genuity Group boosted their price target on shares of Itron from $130.00 to $132.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Finally, Guggenheim restated a "buy" rating and set a $133.00 target price on shares of Itron in a report on Thursday, April 17th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $127.36.

Insider Activity at Itron

In other news, SVP Christopher E. Ware sold 648 shares of the firm's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.90, for a total transaction of $60,199.20. Following the sale, the senior vice president now directly owns 20,326 shares in the company, valued at $1,888,285.40. This trade represents a 3.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary C. Hemmingsen sold 5,150 shares of Itron stock in a transaction dated Tuesday, May 6th. The shares were 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 approximately $103,482.40. This represents a 84.40% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,187 shares of company stock worth $945,620 in the last three months. Company insiders own 1.45% of the company's stock.

Itron Stock Performance

Shares of Itron stock traded down $0.13 on Wednesday, reaching $114.80. 477,496 shares of the stock were exchanged, compared to its average volume of 573,397. The business has a 50 day moving average price of $105.92 and a two-hundred day moving average price of $108.05. The firm has a market capitalization of $5.23 billion, a price-to-earnings ratio of 23.52, a PEG ratio of 0.81 and a beta of 1.31. Itron, Inc. has a twelve month low of $90.11 and a twelve month high of $124.90. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91.

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. The business had revenue of $607.15 million for the quarter, compared to the consensus estimate of $608.86 million. Itron had a net margin of 9.37% and a return on equity of 19.03%. The business's revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.24 EPS. Analysts anticipate that Itron, Inc. will post 5.33 earnings per share for the current fiscal 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.