GSA Capital Partners LLP Buys 1,416 Shares of Itron, Inc. (NASDAQ:ITRI)

GSA Capital Partners LLP grew its position in shares of Itron, Inc. (NASDAQ:ITRI) by 32.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,725 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,416 shares during the quarter. GSA Capital Partners LLP’s holdings in Itron were worth $600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in ITRI. Pictet Asset Management Holding SA lifted its position in shares of Itron by 24.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 7,434 shares of the scientific and technical instruments company’s stock valued at $807,000 after purchasing an additional 1,445 shares in the last quarter. CIBC Private Wealth Group LLC increased its stake in Itron by 3,119.0% in the 4th quarter. CIBC Private Wealth Group LLC now owns 4,410 shares of the scientific and technical instruments company’s stock valued at $471,000 after buying an additional 4,273 shares during the last quarter. Wellington Management Group LLP increased its stake in Itron by 180.7% in the 4th quarter. Wellington Management Group LLP now owns 333,363 shares of the scientific and technical instruments company’s stock valued at $36,197,000 after buying an additional 214,600 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of Itron by 22.8% during the 4th quarter. Franklin Resources Inc. now owns 347,203 shares of the scientific and technical instruments company’s stock worth $37,699,000 after buying an additional 64,375 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in shares of Itron by 9.8% in the 4th quarter. Envestnet Asset Management Inc. now owns 35,076 shares of the scientific and technical instruments company’s stock worth $3,809,000 after buying an additional 3,132 shares during the last quarter. Institutional investors own 96.19% of the company’s stock.

Itron Trading Down 1.1%

Shares of ITRI opened at $123.18 on Monday. Itron, Inc. has a fifty-two week low of $90.11 and a fifty-two week high of $140.04. The business has a 50-day moving average of $128.49 and a 200 day moving average of $113.25. The firm has a market cap of $5.63 billion, a P/E ratio of 21.06, a price-to-earnings-growth ratio of 0.70 and a beta of 1.35. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.75 and a current ratio of 2.04.

Itron (NASDAQ:ITRI) last posted its earnings results on Thursday, July 31st. The scientific and technical instruments company reported $1.62 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.29. Itron had a net margin of 11.05% and a return on equity of 19.69%. The firm had revenue of $606.76 million during the quarter, compared to the consensus estimate of $610.36 million. During the same quarter last year, the company earned $1.21 earnings per share. The company’s revenue was down .4% on a year-over-year basis. As a group, research analysts forecast that Itron, Inc. will post 5.33 EPS for the current year.

Wall Street Analysts Forecast Growth

ITRI has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised Itron from a “neutral” rating to an “overweight” rating and upped their target price for the company from $128.00 to $145.00 in a report on Thursday. Piper Sandler cut their price objective on Itron from $124.00 to $121.00 and set a “neutral” rating on the stock in a research report on Monday, May 5th. Wall Street Zen upgraded Itron from a “hold” rating to a “buy” rating in a research note on Saturday. TD Cowen raised their target price on Itron from $139.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, June 20th. 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. Two analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $134.58.

Insiders Place Their Bets

In other news, SVP Donald L. Reeves III sold 529 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 value of $60,808.55. Following the completion of the transaction, the senior vice president directly owned 20,151 shares in the company, valued at approximately $2,316,357.45. The trade was a 2.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Justin K. Patrick sold 9,036 shares of the business’s stock in a transaction 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 sale, the senior vice president owned 21,149 shares in the company, valued at approximately $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 sold 20,905 shares of company stock worth $2,439,202 in the last three months. Insiders own 1.51% 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.