Wedge Capital Management L L P NC trimmed its position in Itron, Inc. (NASDAQ:ITRI – Get Rating) by 7.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 5,145 shares of the scientific and technical instruments company's stock after selling 416 shares during the period. Wedge Capital Management L L P NC's holdings in Itron were worth $254,000 as of its most recent filing with the SEC.
A number of other hedge funds have also recently bought and sold shares of ITRI. Wolverine Asset Management LLC bought a new position in Itron in the 1st quarter valued at $36,000. US Bancorp DE boosted its position in Itron by 30.7% in the 1st quarter. US Bancorp DE now owns 1,040 shares of the scientific and technical instruments company's stock valued at $54,000 after buying an additional 244 shares during the last quarter. Exchange Traded Concepts LLC lifted its stake in shares of Itron by 29.1% in the 1st quarter. Exchange Traded Concepts LLC now owns 1,376 shares of the scientific and technical instruments company's stock valued at $72,000 after purchasing an additional 310 shares during the period. Captrust Financial Advisors lifted its stake in shares of Itron by 314.3% in the 1st quarter. Captrust Financial Advisors now owns 1,707 shares of the scientific and technical instruments company's stock valued at $90,000 after purchasing an additional 1,295 shares during the period. Finally, Aaron Wealth Advisors LLC acquired a new position in shares of Itron in the 1st quarter valued at $212,000. 97.36% of the stock is currently owned by institutional investors.
Get Itron alerts:Analyst Ratings Changes
ITRI has been the topic of a number of analyst reports. Stephens downgraded Itron from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $65.00 to $55.00 in a research note on Friday, August 5th. Piper Sandler cut their price target on Itron from $51.00 to $50.00 and set a "neutral" rating on the stock in a research note on Tuesday, July 19th. StockNews.com downgraded Itron from a "buy" rating to a "hold" rating in a research note on Friday, August 5th. Cowen cut their price target on Itron to $68.00 in a research note on Tuesday, August 9th. Finally, Morgan Stanley dropped their price objective on Itron from $60.00 to $55.00 and set an "equal weight" rating on the stock in a research note on Thursday, June 9th. Eight analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $62.13.
Itron Stock Performance
ITRI opened at $46.49 on Thursday. The business's 50-day moving average price is $51.02 and its two-hundred day moving average price is $50.00. Itron, Inc. has a 1 year low of $43.18 and a 1 year high of $81.36. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of -21.72 and a beta of 1.29. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.64 and a quick ratio of 1.26.Itron (NASDAQ:ITRI – Get Rating) last released 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). Itron had a negative net margin of 5.15% and a positive return on equity of 4.45%. The firm had revenue of $431.88 million during the quarter, compared to analyst estimates of $488.53 million. During the same period in the prior year, the business earned $0.28 EPS. The business's revenue for the quarter was down 11.8% compared to the same quarter last year. Equities analysts expect that Itron, Inc. will post 0.77 EPS for the current fiscal year.
Insider Activity
In other news, CEO Thomas Deitrich sold 2,605 shares of the firm's stock in a transaction dated Tuesday, September 20th. The stock was 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 owns 146,997 shares in the company, valued at approximately $7,005,877.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders sold 2,974 shares of company stock worth $141,918 in the last quarter. Corporate insiders own 1.37% of the company's stock.
Itron Company 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.
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