Itron, Inc. (NASDAQ:ITRI) Shares Purchased by Soros Fund Management LLC

Soros Fund Management LLC boosted its stake in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 10.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 305,000 shares of the scientific and technical instruments company's stock after acquiring an additional 30,000 shares during the period. Soros Fund Management LLC owned about 0.68% of Itron worth $33,117,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. GeoWealth Management LLC lifted its holdings in Itron by 4,580.0% in the 4th quarter. GeoWealth Management LLC now owns 234 shares of the scientific and technical instruments company's stock valued at $25,000 after purchasing an additional 229 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Itron in the fourth quarter valued at approximately $30,000. Hager Investment Management Services LLC purchased a new position in shares of Itron during the 4th quarter worth $67,000. Contravisory Investment Management Inc. raised its stake in 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 purchasing an additional 525 shares during the period. Finally, Smartleaf Asset Management LLC raised its position in shares of Itron by 347.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 886 shares of the scientific and technical instruments company's stock valued at $97,000 after buying an additional 688 shares during the period. Institutional investors and hedge funds own 96.19% of the company's stock.

Itron Stock Performance

Shares of Itron stock traded up $0.18 during trading hours on Friday, hitting $108.23. 767,961 shares of the company were exchanged, compared to its average volume of 571,349. The stock has a market capitalization of $4.93 billion, a price-to-earnings ratio of 22.18, a P/E/G ratio of 0.81 and a beta of 1.39. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91. Itron, Inc. has a 1 year low of $90.11 and a 1 year high of $124.90. The business has a 50-day moving average of $104.37 and a 200-day moving average of $107.47.

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 19.03% and a net margin of 9.37%. The business had revenue of $607.15 million during the quarter, compared to the consensus estimate of $608.86 million. During the same period in the prior year, the business posted $1.24 EPS. The company's revenue for the quarter was up .6% on a year-over-year basis. As a group, analysts expect that Itron, Inc. will post 5.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Piper Sandler upped their target price on shares of Itron from $119.00 to $124.00 and gave the company a "neutral" rating in a research report on Thursday, February 27th. Guggenheim reiterated a "buy" rating and issued a $133.00 target price on shares of Itron in a report on Thursday, April 17th. Oppenheimer boosted their price target on shares of Itron from $124.00 to $131.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Canaccord Genuity Group increased their price objective on Itron from $130.00 to $132.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Finally, StockNews.com downgraded shares of Itron from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 1st. Three equities 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 company has an average rating of "Moderate Buy" and a consensus price target of $127.64.

Insider Buying and Selling

In related news, Director Mary C. Hemmingsen sold 750 shares of the stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $107.27, for a total transaction of $80,452.50. Following the sale, the director now owns 5,630 shares of the company's stock, valued at $603,930.10. This trade represents a 11.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Joan S. Hooper sold 2,322 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 $215,713.80. Following the sale, the chief financial officer now directly owns 92,076 shares in the company, valued at $8,553,860.40. This represents a 2.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,037 shares of company stock valued at $385,815. Corporate insiders own 1.45% of the company's stock.

Itron Company 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.