Trium Capital LLP Takes Position in Itron, Inc. (NASDAQ:ITRI)

Trium Capital LLP purchased a new position in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 3,506 shares of the scientific and technical instruments company's stock, valued at approximately $367,000.

Other hedge funds also recently modified their holdings of the company. GeoWealth Management LLC boosted its position in shares of Itron by 4,580.0% in 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 during the last quarter. Proficio Capital Partners LLC acquired a new position in Itron during the fourth quarter valued at approximately $30,000. Wayfinding Financial LLC acquired a new position in Itron during the first quarter valued at approximately $45,000. CoreCap Advisors LLC lifted its position 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 buying an additional 125 shares in the last quarter. Finally, Contravisory Investment Management Inc. lifted its position 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 buying an additional 847 shares in the last quarter. 96.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Guggenheim reissued a "buy" rating and set a $133.00 target price on shares of Itron in a research report on Thursday, April 17th. 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. Piper Sandler dropped their price target on shares of Itron from $124.00 to $121.00 and set a "neutral" rating for the company in a research note on Monday, May 5th. Finally, Wall Street Zen lowered shares of Itron from a "buy" rating to a "hold" rating in a research note on Sunday, June 1st. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, Itron has a consensus rating of "Moderate Buy" and an average price target of $128.18.

Itron Stock Performance

Shares of NASDAQ:ITRI traded down $0.05 on Thursday, reaching $134.70. 91,418 shares of the company's stock were exchanged, compared to its average volume of 559,653. The business's 50-day moving average is $120.60 and its two-hundred day moving average is $110.05. The firm has a market capitalization of $6.14 billion, a price-to-earnings ratio of 24.58, a PEG ratio of 0.84 and a beta of 1.35. The company has a quick ratio of 1.65, a current ratio of 1.93 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 $136.24.

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 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $608.86 million. During the same quarter last year, the company earned $1.24 EPS. The company's revenue for the quarter was up .6% compared to the same quarter last year. As a group, equities research analysts forecast that Itron, Inc. will post 5.33 EPS for the current year.

Insiders Place Their Bets

In related news, SVP John F. Marcolini sold 3,783 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $116.73, for a total value of $441,589.59. Following the sale, the senior vice president owned 21,865 shares of the company's stock, valued at $2,552,301.45. This trade represents a 14.75% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Donald L. Reeves III sold 529 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were 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 in the company, valued at approximately $2,316,357.45. The trade was a 2.56% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,905 shares of company stock worth $2,439,202. 1.45% of the stock is 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.