Voya Investment Management LLC Grows Stake in Itron, Inc. (NASDAQ:ITRI)

Voya Investment Management LLC lifted its stake in Itron, Inc. (NASDAQ:ITRI - Free Report) by 12.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 98,856 shares of the scientific and technical instruments company's stock after acquiring an additional 10,673 shares during the period. Voya Investment Management LLC owned 0.22% of Itron worth $10,734,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ITRI. GeoWealth Management LLC raised its holdings in 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 purchasing an additional 229 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Itron during the 4th quarter worth approximately $30,000. Hager Investment Management Services LLC purchased a new stake in Itron during the fourth quarter valued at approximately $67,000. Contravisory Investment Management Inc. boosted its stake in Itron by 154.9% in the fourth quarter. Contravisory Investment Management Inc. now owns 864 shares of the scientific and technical instruments company's stock valued at $94,000 after acquiring an additional 525 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Itron by 347.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 886 shares of the scientific and technical instruments company's stock worth $97,000 after purchasing an additional 688 shares during the last quarter. 96.19% of the stock is currently owned by hedge funds and other institutional investors.

Itron Stock Performance

Shares of ITRI stock traded up $0.18 during trading hours on Friday, hitting $108.23. The company's stock had a trading volume of 767,961 shares, compared to its average volume of 568,681. The stock has a market cap of $4.93 billion, a PE ratio of 22.18, 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 50 day moving average of $104.37 and a 200 day moving average of $107.46. 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 (NASDAQ:ITRI - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The scientific and technical instruments company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.22. The company had revenue of $607.15 million for the quarter, compared to the consensus estimate of $608.86 million. Itron had a return on equity of 19.03% and a net margin of 9.37%. The firm's revenue for the quarter was up .6% compared to the same quarter last year. During the same period last year, the firm earned $1.24 EPS. On average, sell-side analysts forecast that Itron, Inc. will post 5.33 EPS for the current fiscal year.

Insider Buying and Selling at Itron

In related news, SVP Christopher E. Ware sold 648 shares of the stock in a transaction 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 sale, the senior vice president now directly owns 20,326 shares of the company's stock, valued at approximately $1,888,285.40. This represents a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Mary C. Hemmingsen sold 750 shares of the firm's stock in a transaction on Thursday, February 27th. The shares were 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 in the company, valued at approximately $603,930.10. This represents a 11.76 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,037 shares of company stock valued at $385,815. 1.45% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently commented on ITRI shares. StockNews.com lowered Itron from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 1st. Canaccord Genuity Group raised their price target on Itron from $130.00 to $132.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Oppenheimer upped their price objective on shares of Itron from $124.00 to $131.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Guggenheim reiterated a "buy" rating and issued a $133.00 target price on shares of Itron in a research note on Thursday, April 17th. Finally, Piper Sandler upped their price target on shares of Itron from $119.00 to $124.00 and gave the company a "neutral" rating in a research note on Thursday, February 27th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, Itron has a consensus rating of "Moderate Buy" and a consensus 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.