Itron, Inc. (NASDAQ:ITRI) Stock Position Raised by SG Americas Securities LLC

SG Americas Securities LLC raised its position in shares of Itron, Inc. (NASDAQ:ITRI) by 398.8% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,833 shares of the scientific and technical instruments company’s stock after purchasing an additional 5,463 shares during the period. SG Americas Securities LLC’s holdings in Itron were worth $716,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Trust Advisors LP raised its position in shares of Itron by 9.1% in the fourth quarter. First Trust Advisors LP now owns 802,584 shares of the scientific and technical instruments company’s stock valued at $87,145,000 after purchasing an additional 66,637 shares during the period. Norges Bank bought a new position in shares of Itron in the fourth quarter valued at approximately $64,615,000. Northern Trust Corp raised its position in shares of Itron by 11.4% in the fourth quarter. Northern Trust Corp now owns 572,266 shares of the scientific and technical instruments company’s stock valued at $62,137,000 after purchasing an additional 58,546 shares during the period. Nuveen Asset Management LLC raised its position in shares of Itron by 21.5% in the fourth quarter. Nuveen Asset Management LLC now owns 560,478 shares of the scientific and technical instruments company’s stock valued at $60,857,000 after purchasing an additional 99,142 shares during the period. Finally, Janus Henderson Group PLC raised its position in shares of Itron by 2.4% in the fourth quarter. Janus Henderson Group PLC now owns 536,288 shares of the scientific and technical instruments company’s stock valued at $58,233,000 after purchasing an additional 12,810 shares during the period. 96.19% of the stock is owned by hedge funds and other institutional investors.

Itron Stock Up 1.7%

Shares of Itron stock opened at $127.80 on Friday. The company has a current ratio of 1.93, a quick ratio of 1.65 and a debt-to-equity ratio of 0.52. The company’s fifty day simple moving average is $113.47 and its two-hundred day simple moving average is $108.22. The company has a market cap of $5.83 billion, a P/E ratio of 23.32, a PEG ratio of 0.80 and a beta of 1.33. Itron, Inc. has a 12-month low of $90.11 and a 12-month high of $129.83.

Itron (NASDAQ:ITRI) last issued its earnings results on Thursday, May 1st. The scientific and technical instruments company reported $1.52 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.22. Itron had a return on equity of 19.65% and a net margin of 10.34%. 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 firm earned $1.24 EPS. Itron’s revenue was up .6% on a year-over-year basis. Research analysts anticipate that Itron, Inc. will post 5.33 EPS for the current year.

Wall Street Analysts Forecast Growth

ITRI has been the topic of a number of research reports. TD Cowen boosted their target price on shares of Itron from $139.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday. Guggenheim reaffirmed a “buy” rating and set a $133.00 target price on shares of Itron in a research report on Thursday, April 17th. Canaccord Genuity Group boosted their target price on shares of Itron from $130.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Wall Street Zen lowered shares of Itron from a “buy” rating to a “hold” rating in a research report on Sunday, June 1st. Finally, Piper Sandler dropped their target price on shares of Itron from $124.00 to $121.00 and set a “neutral” rating on the stock in a research report on Monday, May 5th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $128.18.

Insiders Place Their Bets

In other Itron news, SVP Christopher E. Ware sold 339 shares of the business’s stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $114.95, for a total value of $38,968.05. Following the completion of the transaction, the senior vice president now directly owns 19,468 shares of the company’s stock, valued at approximately $2,237,846.60. The trade was a 1.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Justin K. Patrick sold 9,036 shares of the business’s stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $121.77, for a total value of $1,100,313.72. Following the completion of the transaction, the senior vice president now directly owns 21,149 shares of the company’s stock, valued at $2,575,313.73. The trade was a 29.94% 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 over the last quarter. Company insiders own 1.45% of the company’s stock.

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.