Amalgamated Bank lowered its position in shares of Itron, Inc. (NASDAQ:ITRI – Get Rating) by 5.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 21,865 shares of the scientific and technical instruments company's stock after selling 1,161 shares during the period. Amalgamated Bank's holdings in Itron were worth $1,152,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Neuberger Berman Group LLC grew its stake in shares of Itron by 9.5% during the first quarter. Neuberger Berman Group LLC now owns 776,570 shares of the scientific and technical instruments company's stock worth $40,920,000 after purchasing an additional 67,393 shares in the last quarter. Resources Management Corp CT ADV boosted its stake in Itron by 3.3% in the first quarter. Resources Management Corp CT ADV now owns 18,650 shares of the scientific and technical instruments company's stock valued at $982,000 after acquiring an additional 591 shares in the last quarter. Gamco Investors INC. ET AL boosted its stake in Itron by 3.1% in the first quarter. Gamco Investors INC. ET AL now owns 67,000 shares of the scientific and technical instruments company's stock valued at $3,530,000 after acquiring an additional 2,000 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in Itron by 25.8% in the first quarter. Advisors Asset Management Inc. now owns 20,891 shares of the scientific and technical instruments company's stock valued at $1,101,000 after acquiring an additional 4,287 shares in the last quarter. Finally, Polar Capital Holdings Plc boosted its stake in Itron by 379.7% in the first quarter. Polar Capital Holdings Plc now owns 68,045 shares of the scientific and technical instruments company's stock valued at $3,585,000 after acquiring an additional 53,860 shares in the last quarter. Institutional investors and hedge funds own 97.36% of the company's stock.
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Insider Buying and Selling at Itron
In other Itron news, CEO Thomas Deitrich sold 2,605 shares of the stock in a transaction dated Tuesday, September 20th. The shares were sold at an average price of $47.66, for a total value of $124,154.30. Following the completion of the transaction, the chief executive officer now directly owns 146,997 shares of the company's stock, valued at $7,005,877.02. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders sold 2,974 shares of company stock valued at $141,918. Corporate insiders own 1.37% of the company's stock.
Itron Trading Up 2.1 %
NASDAQ ITRI opened at $44.58 on Thursday. The stock has a market capitalization of $2.01 billion, a P/E ratio of -20.83 and a beta of 1.29. Itron, Inc. has a 52-week low of $43.18 and a 52-week high of $81.36. The firm has a 50-day moving average price of $50.58 and a 200 day moving average price of $49.91. The company has a quick ratio of 1.26, a current ratio of 1.64 and a debt-to-equity ratio of 0.40.
Itron (NASDAQ:ITRI – Get Rating) last posted its quarterly earnings results on Thursday, August 4th. The scientific and technical instruments company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.21 by ($0.14). The firm had revenue of $431.88 million for the quarter, compared to analysts' expectations of $488.53 million. Itron had a positive return on equity of 4.45% and a negative net margin of 5.15%. The company's revenue for the quarter was down 11.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.28 earnings per share. Equities research analysts expect that Itron, Inc. will post 0.77 EPS for the current year.
Analysts Set New Price Targets
Several equities analysts have issued reports on ITRI shares. Cowen decreased their price objective on shares of Itron to $68.00 in a research note on Tuesday, August 9th. StockNews.com downgraded shares of Itron from a "buy" rating to a "hold" rating in a research note on Friday, August 5th. Piper Sandler decreased their target price on shares of Itron from $51.00 to $50.00 and set a "neutral" rating for the company in a research note on Tuesday, July 19th. Stephens downgraded shares of Itron from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $65.00 to $55.00 in a research note on Friday, August 5th. Finally, Morgan Stanley decreased their target price on shares of Itron from $60.00 to $55.00 and set an "equal weight" rating for the company in a research note on Thursday, June 9th. Eight investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $62.13.
Itron Profile
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Itron, Inc, a technology and service company, provides end-to-end solutions that help manage operations in the energy, water, and smart city space worldwide. The company operates through three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing.
Further Reading
- Get a free copy of the StockNews.com research report on Itron (ITRI)
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