State of Alaska Department of Revenue boosted its stake in Itron, Inc. (NASDAQ:ITRI – Get Rating) by 7.9% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 34,087 shares of the scientific and technical instruments company's stock after buying an additional 2,505 shares during the period. State of Alaska Department of Revenue owned 0.08% of Itron worth $1,684,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in the stock. Wolverine Asset Management LLC bought a new position in shares of Itron in the first quarter worth $36,000. US Bancorp DE grew its stake in shares of Itron by 30.7% in the first quarter. US Bancorp DE now owns 1,040 shares of the scientific and technical instruments company's stock worth $54,000 after purchasing an additional 244 shares in the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Itron by 29.1% in the first quarter. Exchange Traded Concepts LLC now owns 1,376 shares of the scientific and technical instruments company's stock worth $72,000 after purchasing an additional 310 shares in the last quarter. Captrust Financial Advisors grew its stake in shares of Itron by 314.3% in the first quarter. Captrust Financial Advisors now owns 1,707 shares of the scientific and technical instruments company's stock worth $90,000 after purchasing an additional 1,295 shares in the last quarter. Finally, Kepos Capital LP bought a new position in shares of Itron in the fourth quarter worth $237,000. 97.36% of the stock is owned by institutional investors and hedge funds.
Get Itron alerts:Analyst Upgrades and Downgrades
ITRI has been the subject of several recent analyst reports. JPMorgan Chase & Co. cut Itron from an "overweight" rating to a "neutral" rating and set a $65.00 price target for the company. in a research note on Monday, August 8th. Raymond James decreased their target price on Itron from $72.00 to $68.00 and set a "strong-buy" rating for the company in a research note on Tuesday, July 12th. Cowen decreased their target price on Itron to $68.00 in a research note on Tuesday, August 9th. Piper Sandler decreased their target price on Itron from $51.00 to $50.00 and set a "neutral" rating for the company in a research note on Tuesday, July 19th. Finally, Morgan Stanley decreased their target price on 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 analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Itron currently has an average rating of "Hold" and a consensus target price of $62.13.
Itron Trading Down 2.9 %
NASDAQ:ITRI opened at $43.93 on Monday. 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, Inc. has a 1-year low of $43.18 and a 1-year high of $81.36. The firm has a market capitalization of $1.98 billion, a price-to-earnings ratio of -20.53 and a beta of 1.29. The stock has a fifty day simple moving average of $50.93 and a 200 day simple moving average of $50.01.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 for the quarter, missing analysts' consensus estimates of $0.21 by ($0.14). The company had revenue of $431.88 million during the quarter, compared to analyst estimates of $488.53 million. Itron had a negative net margin of 5.15% and a positive return on equity of 4.45%. The company's revenue for the quarter was down 11.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.28 EPS. Sell-side analysts forecast that Itron, Inc. will post 0.77 earnings per share for the current year.
Insider Buying and Selling
In related news, CEO Thomas Deitrich sold 2,605 shares of the 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 sale, the chief executive officer now directly owns 146,997 shares of the company's stock, valued at approximately $7,005,877.02. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 2,974 shares of company stock valued at $141,918. Corporate insiders own 1.37% of the company's stock.
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.
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