Wealth Enhancement Advisory Services LLC Acquires 867 Shares of Itron, Inc. (NASDAQ:ITRI)

Wealth Enhancement Advisory Services LLC raised its holdings in Itron, Inc. (NASDAQ:ITRI) by 41.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 2,955 shares of the scientific and technical instruments company’s stock after acquiring an additional 867 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Itron were worth $321,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the business. GeoWealth Management LLC grew its holdings in shares of 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 during the last quarter. CoreCap Advisors LLC boosted its position in Itron by 25.5% in the 4th quarter. CoreCap Advisors LLC now owns 616 shares of the scientific and technical instruments company’s stock valued at $67,000 after buying an additional 125 shares during the period. Smartleaf Asset Management LLC grew its stake in Itron by 347.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 886 shares of the scientific and technical instruments company’s stock worth $97,000 after acquiring an additional 688 shares in the last quarter. Steward Partners Investment Advisory LLC increased 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 worth $198,000 after acquiring an additional 548 shares during the period. Finally, Inspire Advisors LLC bought a new stake in shares of Itron during the fourth quarter valued at approximately $213,000. Institutional investors own 96.19% of the company’s stock.

Itron Stock Down 0.8%

Shares of Itron stock opened at $121.96 on Friday. Itron, Inc. has a 52-week low of $90.11 and a 52-week high of $124.90. The firm’s 50 day moving average price is $110.68 and its 200-day moving average price is $107.90. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. The company has a market cap of $5.56 billion, a P/E ratio of 24.99, a PEG ratio of 0.81 and a beta of 1.33.

Itron (NASDAQ:ITRI) last released its quarterly earnings results on Thursday, May 1st. The scientific and technical instruments company reported $1.52 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $608.86 million. During the same period in the previous year, the company earned $1.24 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. On average, sell-side analysts predict that Itron, Inc. will post 5.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Guggenheim restated a “buy” rating and set a $133.00 price objective on shares of Itron in a report on Thursday, April 17th. Piper Sandler cut their price target on Itron from $124.00 to $121.00 and set a “neutral” rating on the stock in a research note on Monday, May 5th. Oppenheimer lifted their price objective on Itron from $124.00 to $131.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Canaccord Genuity Group increased their target price on shares of Itron from $130.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Finally, Wall Street Zen downgraded shares of Itron from a “buy” rating to a “hold” rating in a research report on Sunday, June 1st. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $127.36.

Insider Buying and Selling

In related news, Director Mary C. Hemmingsen sold 5,150 shares of Itron stock in a transaction that occurred on Tuesday, May 6th. The shares were 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 directly owns 952 shares in the company, valued at $103,482.40. This trade represents a 84.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Joan S. Hooper sold 938 shares of Itron stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $114.95, for a total transaction of $107,823.10. Following the sale, the chief financial officer now owns 89,364 shares of the company’s stock, valued at $10,272,391.80. The trade was a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,905 shares of company stock worth $2,439,202 in the last ninety days. 1.45% of the stock is owned by insiders.

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.