Merewether Investment Management LP Has $6.84 Million Stock Holdings in Itron, Inc. (NASDAQ:ITRI)

Merewether Investment Management LP lowered its holdings in Itron, Inc. (NASDAQ:ITRI - Free Report) by 58.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 62,967 shares of the scientific and technical instruments company's stock after selling 88,804 shares during the quarter. Merewether Investment Management LP owned about 0.14% of Itron worth $6,837,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Louisiana State Employees Retirement System increased its holdings in Itron by 0.5% in the fourth quarter. Louisiana State Employees Retirement System now owns 21,800 shares of the scientific and technical instruments company's stock valued at $2,367,000 after purchasing an additional 100 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC increased its holdings in Itron by 6.1% in the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,185 shares of the scientific and technical instruments company's stock valued at $237,000 after purchasing an additional 125 shares during the last quarter. CoreCap Advisors LLC increased its holdings in Itron by 25.5% in the fourth quarter. CoreCap Advisors LLC now owns 616 shares of the scientific and technical instruments company's stock valued at $67,000 after purchasing an additional 125 shares during the last quarter. Captrust Financial Advisors increased its holdings in Itron by 6.3% in the fourth quarter. Captrust Financial Advisors now owns 2,144 shares of the scientific and technical instruments company's stock valued at $233,000 after purchasing an additional 128 shares during the last quarter. Finally, Summit Investment Advisors Inc. grew its position in shares of Itron by 3.1% in the 4th quarter. Summit Investment Advisors Inc. now owns 4,726 shares of the scientific and technical instruments company's stock valued at $513,000 after purchasing an additional 140 shares during the period. Institutional investors own 96.19% of the company's stock.

Analyst Ratings Changes

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

Insider Transactions at Itron

In related news, CAO David Marshall Wright sold 317 shares of the business's stock in a transaction on Monday, February 24th. The stock was 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 $753,233.20. The trade was a 3.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Christopher E. Ware sold 648 shares of the business's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $92.90, for a total value of $60,199.20. Following the completion of the sale, the senior vice president now owns 20,326 shares of the company's stock, valued at $1,888,285.40. This trade represents a 3.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 9,187 shares of company stock worth $945,620. 1.45% of the stock is owned by company insiders.

Itron Stock Up 0.5%

ITRI stock traded up $0.62 during mid-day trading on Friday, reaching $114.82. The company had a trading volume of 301,791 shares, compared to its average volume of 572,212. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83. The stock has a 50 day simple moving average of $105.28 and a two-hundred day simple moving average of $107.97. The company has a market capitalization of $5.23 billion, a price-to-earnings ratio of 23.53, a PEG ratio of 0.81 and a beta of 1.31. Itron, Inc. has a 52 week low of $90.11 and a 52 week high of $124.90.

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

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.