SIR Capital Management L.P. Raises Stock Holdings in Itron, Inc. (NASDAQ:ITRI)

SIR Capital Management L.P. grew its position in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 25.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 59,305 shares of the scientific and technical instruments company's stock after acquiring an additional 12,105 shares during the period. SIR Capital Management L.P. owned about 0.13% of Itron worth $6,439,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in shares of Itron in the 4th quarter worth about $64,615,000. Bowen Hanes & Co. Inc. purchased a new position in shares of Itron during the fourth quarter valued at approximately $27,486,000. Raiffeisen Bank International AG bought a new stake in shares of Itron in the 4th quarter worth approximately $27,619,000. Wellington Management Group LLP increased its position in Itron by 180.7% during the 4th quarter. Wellington Management Group LLP now owns 333,363 shares of the scientific and technical instruments company's stock valued at $36,197,000 after buying an additional 214,600 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in Itron by 85.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 425,484 shares of the scientific and technical instruments company's stock valued at $46,199,000 after buying an additional 196,396 shares during the last quarter. Institutional investors own 96.19% of the company's stock.

Insider Buying and Selling at Itron

In related news, CAO David Marshall Wright sold 317 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.90, for a total value of $29,449.30. Following the sale, the chief accounting officer now directly owns 8,108 shares of the company's stock, valued at $753,233.20. This represents a 3.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Mary C. Hemmingsen sold 5,150 shares of the stock in a transaction on Tuesday, May 6th. The stock was 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 in the company, valued at approximately $103,482.40. The trade was a 84.40% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,187 shares of company stock worth $945,620 over the last ninety days. Company insiders own 1.45% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. 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 dropped their price target on shares of Itron from $124.00 to $121.00 and set a "neutral" rating on the stock in a research note on Monday, May 5th. StockNews.com lowered shares of Itron from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 1st. Oppenheimer lifted their target price on shares of Itron from $124.00 to $131.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Finally, Guggenheim reiterated a "buy" rating and set a $133.00 price target on shares of Itron in a report on Thursday, April 17th. 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, the company currently has a consensus rating of "Moderate Buy" and an average target price of $127.36.

Itron Stock Performance

Itron stock traded down $0.99 during midday trading on Wednesday, reaching $113.95. 150,499 shares of the company traded hands, compared to its average volume of 571,207. The firm has a market capitalization of $5.19 billion, a price-to-earnings ratio of 23.37, a price-to-earnings-growth ratio of 0.81 and a beta of 1.31. Itron, Inc. has a 12 month low of $90.11 and a 12 month high of $124.90. 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 business has a 50 day moving average of $105.71 and a two-hundred day moving average of $108.01.

Itron (NASDAQ:ITRI - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The scientific and technical instruments company reported $1.52 EPS for the quarter, beating the consensus estimate of $1.30 by $0.22. Itron had a net margin of 9.37% and a return on equity of 19.03%. The business had revenue of $607.15 million during the quarter, compared to the consensus estimate of $608.86 million. During the same quarter in the prior year, the firm earned $1.24 EPS. The business's revenue was up .6% on a year-over-year basis. As a group, research analysts predict that Itron, Inc. will post 5.33 earnings per share for the current year.

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.