Envestnet Asset Management Inc. Buys 41,984 Shares of Itron, Inc. (NASDAQ:ITRI)

Envestnet Asset Management Inc. lifted its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 119.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 77,060 shares of the scientific and technical instruments company’s stock after purchasing an additional 41,984 shares during the quarter. Envestnet Asset Management Inc. owned 0.17% of Itron worth $8,073,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Proficio Capital Partners LLC bought a new stake in shares of Itron in the 4th quarter valued at $30,000. HighTower Advisors LLC boosted its stake in shares of Itron by 143.2% in the 4th quarter. HighTower Advisors LLC now owns 7,355 shares of the scientific and technical instruments company’s stock valued at $799,000 after purchasing an additional 4,331 shares during the last quarter. Corient Private Wealth LLC boosted its stake in shares of Itron by 12.9% in the 4th quarter. Corient Private Wealth LLC now owns 4,263 shares of the scientific and technical instruments company’s stock valued at $463,000 after purchasing an additional 488 shares during the last quarter. Cibc World Markets Corp acquired a new position in shares of Itron during the 4th quarter valued at $459,000. Finally, Xponance Inc. lifted its position in shares of Itron by 11.0% during the 4th quarter. Xponance Inc. now owns 3,341 shares of the scientific and technical instruments company’s stock valued at $363,000 after acquiring an additional 331 shares during the period. 96.19% of the stock is owned by institutional investors.

Insider Buying and Selling at Itron

In other news, CFO Joan S. Hooper sold 938 shares of the business’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $114.95, for a total transaction of $107,823.10. Following the sale, the chief financial officer owned 89,364 shares in the company, valued at approximately $10,272,391.80. The trade was a 1.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mary C. Hemmingsen sold 5,150 shares of the business’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $108.70, for a total transaction of $559,805.00. Following the sale, the director owned 952 shares in the company, valued at approximately $103,482.40. This trade represents a 84.40% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,905 shares of company stock worth $2,439,202. 1.45% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ITRI. Wall Street Zen downgraded shares of Itron from a “buy” rating to a “hold” rating in a report on Sunday, June 1st. Piper Sandler lowered their target price on shares of Itron from $124.00 to $121.00 and set a “neutral” rating for the company in a report on Monday, May 5th. TD Cowen increased their target price on shares of Itron from $139.00 to $145.00 and gave the company a “buy” rating in a report on Friday, June 20th. Finally, Guggenheim reiterated a “buy” rating and issued a $155.00 target price (up previously 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 issued a buy rating to the company. According to data from MarketBeat.com, Itron presently has a consensus rating of “Moderate Buy” and a consensus target price of $132.00.

Itron Trading Up 0.2%

ITRI stock opened at $136.63 on Tuesday. The company has a market capitalization of $6.23 billion, a PE ratio of 24.93, a price-to-earnings-growth ratio of 0.86 and a beta of 1.35. Itron, Inc. has a one year low of $90.11 and a one year high of $137.99. The company’s 50 day moving average price is $124.54 and its two-hundred day moving average price is $111.35. 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 (NASDAQ:ITRI) last issued its 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 10.34% and a return on equity of 19.65%. The firm had revenue of $607.15 million for the quarter, compared to analysts’ expectations of $608.86 million. During the same quarter last year, the business earned $1.24 earnings per share. The business’s revenue was up .6% on a year-over-year basis. As a group, analysts predict that Itron, Inc. will post 5.33 earnings per share for the current fiscal year.

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.