Ameriprise Financial Inc. Sells 4,240 Shares of Itron, Inc. (NASDAQ:ITRI)

Ameriprise Financial Inc. cut its holdings in shares of Itron, Inc. (NASDAQ:ITRI) by 3.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 123,218 shares of the scientific and technical instruments company’s stock after selling 4,240 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.27% of Itron worth $13,379,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. GeoWealth Management LLC raised its holdings in Itron by 4,580.0% during the fourth quarter. GeoWealth Management LLC now owns 234 shares of the scientific and technical instruments company’s stock valued at $25,000 after acquiring an additional 229 shares during the period. Hager Investment Management Services LLC purchased a new position in shares of Itron during the fourth quarter valued at about $67,000. Smartleaf Asset Management LLC grew its position in shares of Itron by 347.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 886 shares of the scientific and technical instruments company’s stock valued at $97,000 after purchasing an additional 688 shares in the last quarter. Steward Partners Investment Advisory LLC grew its position in shares of Itron by 43.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,820 shares of the scientific and technical instruments company’s stock valued at $198,000 after purchasing an additional 548 shares in the last quarter. Finally, Inspire Advisors LLC purchased a new position in shares of Itron during the fourth quarter valued at about $213,000. 96.19% of the stock is owned by institutional investors.

Itron Trading Up 0.5%

ITRI opened at $114.82 on Friday. The firm has a market cap of $5.23 billion, a P/E ratio of 23.53, a P/E/G 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 current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91. The stock has a 50-day moving average of $105.28 and a 200 day moving average of $107.97.

Itron (NASDAQ:ITRI) last announced its earnings results on Thursday, May 1st. The scientific and technical instruments company reported $1.52 earnings per share (EPS) 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 business had revenue of $607.15 million during the quarter, compared to analyst estimates of $608.86 million. During the same quarter in the previous year, the business earned $1.24 earnings per share. The company’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, research analysts forecast that Itron, Inc. will post 5.33 EPS for the current year.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Itron

In other Itron news, CAO David Marshall Wright sold 317 shares of the business’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 transaction of $29,449.30. Following the completion of the transaction, the chief accounting officer now owns 8,108 shares in the company, valued at $753,233.20. The trade was a 3.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Christopher E. Ware sold 648 shares of the business’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 $60,199.20. Following the transaction, 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 position. The disclosure for this sale can be found here. Insiders sold 9,187 shares of company stock worth $945,620 over the last 90 days. Company insiders own 1.45% of the company’s stock.

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.