Tower Research Capital LLC TRC Raises Holdings in Itron, Inc. (NASDAQ:ITRI)

Tower Research Capital LLC TRC boosted its position in Itron, Inc. (NASDAQ:ITRI - Free Report) by 2,000.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 5,986 shares of the scientific and technical instruments company's stock after purchasing an additional 5,701 shares during the quarter. Tower Research Capital LLC TRC's holdings in Itron were worth $650,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in ITRI. First Trust Advisors LP lifted its holdings in shares of Itron by 9.1% in the 4th quarter. First Trust Advisors LP now owns 802,584 shares of the scientific and technical instruments company's stock worth $87,145,000 after acquiring an additional 66,637 shares during the last quarter. Norges Bank acquired a new position in shares of Itron in the 4th quarter worth approximately $64,615,000. Vontobel Holding Ltd. lifted its holdings in shares of Itron by 8.1% in the 4th quarter. Vontobel Holding Ltd. now owns 464,787 shares of the scientific and technical instruments company's stock worth $50,467,000 after acquiring an additional 34,842 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Itron by 85.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 425,484 shares of the scientific and technical instruments company's stock worth $46,199,000 after acquiring an additional 196,396 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Itron by 3.1% in the 4th quarter. Renaissance Technologies LLC now owns 350,461 shares of the scientific and technical instruments company's stock worth $38,053,000 after acquiring an additional 10,400 shares during the last quarter. 96.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Christopher E. Ware sold 648 shares of the company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $60,199.20. Following the sale, the senior vice president now owns 20,326 shares of the company's stock, valued at approximately $1,888,285.40. This represents a 3.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO David Marshall Wright sold 317 shares of the company'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 value of $29,449.30. Following the completion of the sale, the chief accounting officer now directly owns 8,108 shares in the company, valued at approximately $753,233.20. The trade was a 3.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,037 shares of company stock valued at $385,815 over the last quarter. Company insiders own 1.45% of the company's stock.

Itron Stock Performance

Shares of ITRI stock traded down $3.24 during midday trading on Thursday, hitting $108.05. The company had a trading volume of 796,988 shares, compared to its average volume of 574,236. The company's 50 day simple moving average is $103.93 and its 200 day simple moving average is $107.49. Itron, Inc. has a 52-week low of $90.03 and a 52-week high of $124.90. The stock has a market cap of $4.92 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 0.81 and a beta of 1.39. 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 earnings results on Thursday, May 1st. The scientific and technical instruments company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.22. Itron had a return on equity of 19.03% and a net margin of 9.37%. The company had revenue of $607.15 million for the quarter, compared to the consensus estimate of $608.86 million. During the same period last year, the business posted $1.24 EPS. The company's revenue was up .6% on a year-over-year basis. Research analysts anticipate that Itron, Inc. will post 5.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on ITRI shares. Canaccord Genuity Group upped 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. Guggenheim reaffirmed a "buy" rating and issued a $133.00 price target on shares of Itron in a research report on Thursday, April 17th. Piper Sandler raised their target price on Itron from $119.00 to $124.00 and gave the stock a "neutral" rating in a research report on Thursday, February 27th. Oppenheimer raised their target price on Itron from $124.00 to $131.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Finally, StockNews.com lowered Itron from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 1st. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Itron currently has a consensus rating of "Moderate Buy" and an average price target of $127.64.

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.