Wolverine Asset Management LLC Takes Position in Itron, Inc. (NASDAQ:ITRI)

Wolverine Asset Management LLC bought a new stake in Itron, Inc. (NASDAQ:ITRIGet Rating) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 700 shares of the scientific and technical instruments company’s stock, valued at approximately $36,000.

Several other hedge funds also recently modified their holdings of ITRI. State Street Corp boosted its stake in Itron by 8.5% during the 4th quarter. State Street Corp now owns 1,606,096 shares of the scientific and technical instruments company’s stock worth $110,050,000 after acquiring an additional 125,257 shares during the last quarter. Invesco Ltd. boosted its stake in Itron by 1.6% during the 4th quarter. Invesco Ltd. now owns 1,487,427 shares of the scientific and technical instruments company’s stock worth $101,918,000 after acquiring an additional 23,017 shares during the last quarter. Allianz Asset Management GmbH boosted its stake in Itron by 5.0% during the 4th quarter. Allianz Asset Management GmbH now owns 1,275,976 shares of the scientific and technical instruments company’s stock worth $87,404,000 after acquiring an additional 61,241 shares during the last quarter. Schroder Investment Management Group boosted its stake in Itron by 159.3% during the 4th quarter. Schroder Investment Management Group now owns 980,317 shares of the scientific and technical instruments company’s stock worth $67,171,000 after acquiring an additional 602,274 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Itron by 5.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 920,508 shares of the scientific and technical instruments company’s stock worth $63,071,000 after acquiring an additional 48,499 shares during the last quarter. Institutional investors own 99.15% of the company’s stock.

Itron Price Performance

Shares of ITRI opened at $51.64 on Friday. The company has a market cap of $2.33 billion, a price-to-earnings ratio of -25.19 and a beta of 1.24. Itron, Inc. has a 1-year low of $43.18 and a 1-year high of $86.49. The company’s fifty day simple moving average is $50.32 and its 200 day simple moving average is $51.49. The company has a current ratio of 1.58, a quick ratio of 1.24 and a debt-to-equity ratio of 0.38.

Itron (NASDAQ:ITRIGet Rating) last issued its earnings results on Thursday, August 4th. The scientific and technical instruments company reported $0.07 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.14). The firm had revenue of $431.88 million for the quarter, compared to analyst estimates of $488.53 million. Itron had a positive return on equity of 5.19% and a negative net margin of 4.80%. Itron’s quarterly revenue was down 11.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.28 earnings per share. On average, research analysts forecast that Itron, Inc. will post 1.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Itron news, CFO Joan S. Hooper sold 627 shares of Itron stock in a transaction on Wednesday, May 18th. The shares were sold at an average price of $49.36, for a total transaction of $30,948.72. Following the completion of the transaction, the chief financial officer now directly owns 50,409 shares of the company’s stock, valued at $2,488,188.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders sold a total of 1,015 shares of company stock valued at $48,923 over the last ninety days. 1.37% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

ITRI has been the topic of several research analyst reports. StockNews.com downgraded shares of Itron from a “buy” rating to a “hold” rating in a report on Friday. Raymond James dropped their target price on shares of Itron from $72.00 to $68.00 and set a “strong-buy” rating on the stock in a report on Tuesday, July 12th. JPMorgan Chase & Co. raised their target price on shares of Itron from $71.00 to $73.00 in a report on Wednesday, July 20th. Stephens downgraded shares of Itron from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $65.00 to $55.00 in a report on Friday. Finally, Piper Sandler dropped their target price on shares of Itron from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Tuesday, July 19th. Eight analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Itron has a consensus rating of “Hold” and a consensus price target of $68.40.

Itron Profile

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Itron, Inc, a technology and service company, provides end-to-end solutions that help manage operations in the energy, water, and smart city space worldwide. The company operates through three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing.

See Also

Institutional Ownership by Quarter for Itron (NASDAQ:ITRI)

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