Lazard Asset Management LLC Grows Stock Position in Itron, Inc. (NASDAQ:ITRI)

Lazard Asset Management LLC raised its position in Itron, Inc. (NASDAQ:ITRI - Free Report) by 276.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 26,408 shares of the scientific and technical instruments company's stock after buying an additional 19,395 shares during the period. Lazard Asset Management LLC owned 0.06% of Itron worth $2,867,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. GeoWealth Management LLC raised its stake 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 bought a new stake in shares of Itron during the fourth quarter worth approximately $30,000. Hager Investment Management Services LLC bought a new stake in shares of Itron during the fourth quarter worth approximately $67,000. CoreCap Advisors LLC raised its stake in shares of Itron by 25.5% during the fourth quarter. CoreCap Advisors LLC now owns 616 shares of the scientific and technical instruments company's stock worth $67,000 after buying an additional 125 shares during the last quarter. Finally, Contravisory Investment Management Inc. raised its stake in shares of Itron by 154.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 864 shares of the scientific and technical instruments company's stock worth $94,000 after buying an additional 525 shares during the last quarter. 96.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Itron

In other Itron news, Director Mary C. Hemmingsen sold 5,150 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $108.70, for a total transaction of $559,805.00. Following the completion of the transaction, the director now owns 952 shares in the company, valued at $103,482.40. This trade represents a 84.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Christopher E. Ware sold 648 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were 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 in the company, valued at $1,888,285.40. This represents a 3.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,187 shares of company stock worth $945,620. 1.45% of the stock is owned by corporate insiders.

Itron Stock Up 0.8%

Shares of Itron stock traded up $0.94 during trading on Tuesday, reaching $114.93. 666,234 shares of the company traded hands, compared to its average volume of 571,529. 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, Inc. has a 1-year low of $90.11 and a 1-year high of $124.90. The company has a 50 day moving average price of $105.49 and a 200-day moving average price of $107.96. The firm has a market capitalization of $5.24 billion, a PE ratio of 23.55, a P/E/G ratio of 0.81 and a beta of 1.31.

Itron (NASDAQ:ITRI - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The scientific and technical instruments company reported $1.52 EPS for the quarter, beating analysts' consensus estimates of $1.30 by $0.22. The business had revenue of $607.15 million during the quarter, compared to analyst estimates of $608.86 million. Itron had a net margin of 9.37% and a return on equity of 19.03%. Itron's quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.24 EPS. As a group, equities research analysts expect 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.