Trium Capital LLP Buys Shares of 3,506 Itron, Inc. (NASDAQ:ITRI)

Trium Capital LLP bought a new stake in Itron, Inc. (NASDAQ:ITRI - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 3,506 shares of the scientific and technical instruments company's stock, valued at approximately $367,000.

A number of other large investors have also modified their holdings of ITRI. First Trust Advisors LP grew its holdings in shares of Itron by 9.1% during the fourth quarter. First Trust Advisors LP now owns 802,584 shares of the scientific and technical instruments company's stock worth $87,145,000 after purchasing an additional 66,637 shares during the last quarter. Norges Bank bought a new stake in shares of Itron during the fourth quarter worth $64,615,000. Northern Trust Corp grew its holdings in shares of Itron by 11.4% during the fourth quarter. Northern Trust Corp now owns 572,266 shares of the scientific and technical instruments company's stock worth $62,137,000 after purchasing an additional 58,546 shares during the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Itron by 21.5% during the fourth 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 during the last quarter. Finally, Janus Henderson Group PLC grew its holdings in shares of Itron by 2.4% during the fourth quarter. Janus Henderson Group PLC now owns 536,288 shares of the scientific and technical instruments company's stock worth $58,233,000 after purchasing an additional 12,810 shares during the last quarter. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the company. TD Cowen increased their target price on Itron from $139.00 to $145.00 and gave the stock a "buy" rating in a report on Friday, June 20th. Piper Sandler decreased their price target on Itron from $124.00 to $121.00 and set a "neutral" rating on the stock in a report on Monday, May 5th. Guggenheim reiterated a "buy" rating and issued a $133.00 price target on shares of Itron in a report on Thursday, April 17th. Finally, Wall Street Zen cut Itron from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $128.18.

Itron Trading Down 0.7%

ITRI traded down $0.99 during midday trading on Friday, reaching $134.54. 396,647 shares of the company were exchanged, compared to its average volume of 553,855. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.65 and a current ratio of 1.93. Itron, Inc. has a one year low of $90.11 and a one year high of $136.24. The stock has a market capitalization of $6.13 billion, a P/E ratio of 24.55, a PEG ratio of 0.85 and a beta of 1.35. The stock's 50-day simple moving average is $121.68 and its 200 day simple moving average is $110.40.

Itron (NASDAQ:ITRI - Get Free Report) last issued its earnings results on Thursday, May 1st. The scientific and technical instruments company reported $1.52 earnings per share (EPS) 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 firm had revenue of $607.15 million for the quarter, compared to analysts' expectations of $608.86 million. During the same quarter last year, the business earned $1.24 earnings per share. The company's revenue was up .6% compared to the same quarter last year. As a group, analysts forecast that Itron, Inc. will post 5.33 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Donald L. Reeves III sold 529 shares of Itron stock in a transaction dated 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 owned 20,151 shares in the company, valued at $2,316,357.45. The trade was a 2.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction, the director owned 952 shares in the company, valued at $103,482.40. This trade represents a 84.40% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,905 shares of company stock valued at $2,439,202. Insiders own 1.45% of the company's stock.

Itron 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.