Steward Partners Investment Advisory LLC trimmed its holdings in Itron, Inc. (NASDAQ:ITRI – Get Rating) by 36.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,204 shares of the scientific and technical instruments company’s stock after selling 700 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Itron were worth $63,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of ITRI. Exchange Traded Concepts LLC increased its holdings in Itron by 29.1% during the 1st 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 during the period. Fort Sheridan Advisors LLC acquired a new stake in shares of Itron in the 4th quarter worth $215,000. Kepos Capital LP acquired a new stake in Itron during the 4th quarter worth about $237,000. Gotham Asset Management LLC lifted its position in Itron by 24.4% during the 4th quarter. Gotham Asset Management LLC now owns 3,549 shares of the scientific and technical instruments company’s stock worth $243,000 after acquiring an additional 696 shares during the period. Finally, Inspire Investing LLC acquired a new stake in Itron during the 1st quarter worth about $278,000. 99.15% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at Itron
In related news, CFO Joan S. Hooper sold 627 shares of the firm’s stock in a transaction dated Wednesday, May 18th. The shares were sold at an average price of $49.36, for a total value of $30,948.72. Following the completion of the sale, the chief financial officer now owns 50,409 shares in the company, valued at $2,488,188.24. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last quarter, insiders sold 1,015 shares of company stock worth $48,923. Company insiders own 1.37% of the company’s stock.
Itron Stock Up 2.4 %
Itron (NASDAQ:ITRI – Get Rating) last posted its earnings results on Monday, May 2nd. The scientific and technical instruments company reported $0.11 EPS for the quarter, beating the consensus estimate of $0.09 by $0.02. The firm had revenue of $475.30 million for the quarter, compared to analyst estimates of $488.49 million. Itron had a positive return on equity of 5.19% and a negative net margin of 4.80%. Itron’s revenue for the quarter was down 8.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.52 earnings per share. Research analysts anticipate that Itron, Inc. will post 1.33 EPS for the current year.
Analyst Upgrades and Downgrades
ITRI has been the subject of a number of research reports. Morgan Stanley lowered their price target on Itron from $60.00 to $55.00 and set an “equal weight” rating for the company in a research report on Thursday, June 9th. JPMorgan Chase & Co. boosted their price objective on Itron from $71.00 to $73.00 in a research note on Wednesday, July 20th. StockNews.com upgraded Itron from a “hold” rating to a “buy” rating in a report on Wednesday, May 25th. Piper Sandler lowered their target price on Itron from $51.00 to $50.00 and set a “neutral” rating on the stock in a report on Tuesday, July 19th. Finally, Raymond James decreased their price objective on Itron from $72.00 to $68.00 and set a “strong-buy” rating on the stock in a report on Tuesday, July 12th. Six research analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $69.40.
Itron Company Profile
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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