M&T Bank Corp Has $204,000 Holdings in Itron, Inc. (NASDAQ:ITRI)

M&T Bank Corp lowered its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 8.7% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 1,947 shares of the scientific and technical instruments company’s stock after selling 185 shares during the period. M&T Bank Corp’s holdings in Itron were worth $204,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. GeoWealth Management LLC increased its position in shares of 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 last quarter. Proficio Capital Partners LLC bought a new stake in Itron in the 4th quarter valued at about $30,000. Wayfinding Financial LLC bought a new stake in Itron during the 1st quarter valued at $45,000. CoreCap Advisors LLC grew its position in shares of Itron by 25.5% in the fourth quarter. CoreCap Advisors LLC now owns 616 shares of the scientific and technical instruments company’s stock valued at $67,000 after purchasing an additional 125 shares in the last quarter. Finally, Contravisory Investment Management Inc. raised its stake in shares of Itron by 98.0% during the 1st quarter. Contravisory Investment Management Inc. now owns 1,711 shares of the scientific and technical instruments company’s stock valued at $179,000 after purchasing an additional 847 shares during the period. 96.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Piper Sandler reduced their target price on Itron from $124.00 to $121.00 and set a “neutral” rating for the company in a report on Monday, May 5th. TD Cowen boosted their price objective on shares of Itron from $139.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, June 20th. Wall Street Zen cut shares of Itron from a “buy” rating to a “hold” rating in a research note on Sunday, June 1st. Finally, Guggenheim reissued a “buy” rating and issued a $155.00 price target (up from $133.00) on shares of Itron in a report on Monday, July 14th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, Itron has an average rating of “Moderate Buy” and a consensus target price of $132.00.

Insider Activity at Itron

In related news, CFO Joan S. Hooper sold 938 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $114.95, for a total transaction of $107,823.10. Following the completion of the sale, the chief financial officer directly owned 89,364 shares in the company, valued at $10,272,391.80. This represents a 1.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Mary C. Hemmingsen sold 5,150 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $108.70, for a total value of $559,805.00. Following the transaction, the director owned 952 shares in the company, valued at approximately $103,482.40. The trade was a 84.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 20,905 shares of company stock worth $2,439,202 in the last 90 days. Corporate insiders own 1.45% of the company’s stock.

Itron Stock Down 0.2%

Shares of NASDAQ:ITRI opened at $136.39 on Friday. The firm has a market capitalization of $6.22 billion, a PE ratio of 24.89, a price-to-earnings-growth ratio of 0.86 and a beta of 1.35. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.65 and a current ratio of 1.93. Itron, Inc. has a 52-week low of $90.11 and a 52-week high of $137.68. The firm has a fifty day moving average of $124.54 and a 200 day moving average of $111.31.

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

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.