Graham Capital Management L.P. Decreases Holdings in Itron, Inc. (NASDAQ:ITRI)

Graham Capital Management L.P. cut its holdings in Itron, Inc. (NASDAQ:ITRI - Free Report) by 34.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,441 shares of the scientific and technical instruments company's stock after selling 5,570 shares during the quarter. Graham Capital Management L.P.'s holdings in Itron were worth $1,134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Ethic Inc. grew its stake in shares of Itron by 21.2% in the fourth quarter. Ethic Inc. now owns 3,846 shares of the scientific and technical instruments company's stock worth $418,000 after purchasing an additional 673 shares during the last quarter. FWL Investment Management LLC lifted its holdings in Itron by 13.1% in the fourth quarter. FWL Investment Management LLC now owns 5,894 shares of the scientific and technical instruments company's stock worth $640,000 after buying an additional 681 shares during the period. Deutsche Bank AG lifted its holdings in Itron by 6.4% in the fourth quarter. Deutsche Bank AG now owns 260,360 shares of the scientific and technical instruments company's stock worth $28,270,000 after buying an additional 15,717 shares during the period. Driehaus Capital Management LLC lifted its holdings in Itron by 2.7% in the fourth quarter. Driehaus Capital Management LLC now owns 342,427 shares of the scientific and technical instruments company's stock worth $37,181,000 after buying an additional 9,107 shares during the period. Finally, Concentric Capital Strategies LP lifted its holdings in Itron by 157.8% in the fourth quarter. Concentric Capital Strategies LP now owns 98,099 shares of the scientific and technical instruments company's stock worth $10,652,000 after buying an additional 60,052 shares during the period. 96.19% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Itron news, Director Mary C. Hemmingsen sold 5,150 shares of Itron stock in a transaction that occurred on 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 sale, the director now owns 952 shares of the company's stock, valued at approximately $103,482.40. The trade was a 84.40% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Christopher E. Ware sold 648 shares of Itron stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $92.90, for a total transaction of $60,199.20. Following the completion of the sale, the senior vice president now directly owns 20,326 shares of the company's stock, valued at approximately $1,888,285.40. This trade represents a 3.09% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,187 shares of company stock valued at $945,620. Company insiders own 1.45% of the company's stock.

Itron Stock Up 0.5%

NASDAQ ITRI traded up $0.62 during mid-day trading on Friday, reaching $114.82. The stock had a trading volume of 301,791 shares, compared to its average volume of 570,638. Itron, Inc. has a 1 year low of $90.11 and a 1 year high of $124.90. The stock has a market cap of $5.23 billion, a PE ratio of 23.53, a price-to-earnings-growth ratio of 0.81 and a beta of 1.31. The company has a fifty day moving average price of $105.28 and a 200 day moving average price of $107.94. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83.

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 for the quarter, topping analysts' consensus estimates of $1.30 by $0.22. Itron had a net margin of 9.37% and a return on equity of 19.03%. The company had revenue of $607.15 million during the quarter, compared to analyst estimates of $608.86 million. During the same period in the previous year, the business earned $1.24 EPS. The firm's revenue for the quarter was up .6% on a year-over-year basis. On average, research analysts expect that Itron, Inc. will post 5.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on ITRI shares. Canaccord Genuity Group raised their price objective on shares of Itron from $130.00 to $132.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Oppenheimer raised their price objective on shares of Itron from $124.00 to $131.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Guggenheim reiterated a "buy" rating and set a $133.00 target price on shares of Itron in a report on Thursday, April 17th. Piper Sandler lowered their target price on shares of Itron from $124.00 to $121.00 and set a "neutral" rating for the company in a report on Monday, May 5th. Finally, StockNews.com lowered shares of Itron from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 1st. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $127.36.

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.