Bay Colony Advisory Group Inc d b a Bay Colony Advisors Takes $210,000 Position in Itron, Inc. (NASDAQ:ITRI)

Bay Colony Advisory Group Inc d b a Bay Colony Advisors bought a new stake in shares of Itron, Inc. (NASDAQ:ITRI) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,775 shares of the scientific and technical instruments company’s stock, valued at approximately $210,000.

Several other hedge funds have also recently made changes to their positions in the business. State of Wyoming bought a new stake in shares of Itron during the fourth quarter valued at approximately $29,000. Quarry LP boosted its position in shares of Itron by 240.5% during the second quarter. Quarry LP now owns 429 shares of the scientific and technical instruments company’s stock valued at $31,000 after purchasing an additional 303 shares in the last quarter. Covestor Ltd boosted its position in shares of Itron by 9,150.0% during the third quarter. Covestor Ltd now owns 555 shares of the scientific and technical instruments company’s stock valued at $34,000 after purchasing an additional 549 shares in the last quarter. US Bancorp DE boosted its position in shares of Itron by 30.7% during the first quarter. US Bancorp DE now owns 1,040 shares of the scientific and technical instruments company’s stock valued at $54,000 after purchasing an additional 244 shares in the last quarter. Finally, Point72 Asset Management L.P. bought a new stake in shares of Itron during the second quarter valued at approximately $66,000. 96.19% of the stock is owned by hedge funds and other institutional investors.

Itron Trading Up 0.9 %

Shares of NASDAQ:ITRI opened at $90.76 on Wednesday. The company has a market cap of $4.16 billion, a P/E ratio of 43.22, a PEG ratio of 1.00 and a beta of 1.41. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.95 and a quick ratio of 1.43. Itron, Inc. has a 1 year low of $50.60 and a 1 year high of $96.73. The stock’s fifty day moving average price is $87.01 and its 200-day moving average price is $74.36.

Itron (NASDAQ:ITRI) last announced its quarterly earnings results on Monday, February 26th. The scientific and technical instruments company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.48. The firm had revenue of $577.17 million for the quarter, compared to the consensus estimate of $569.90 million. Itron had a return on equity of 12.27% and a net margin of 4.46%. The company’s quarterly revenue was up 23.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.71 earnings per share. Sell-side analysts expect that Itron, Inc. will post 3.61 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Canaccord Genuity Group raised Itron from a “hold” rating to a “buy” rating and boosted their target price for the stock from $68.00 to $105.00 in a report on Tuesday, February 27th. JPMorgan Chase & Co. boosted their target price on Itron from $77.00 to $92.00 and gave the stock a “neutral” rating in a report on Wednesday, March 13th. Piper Sandler dropped their target price on Itron from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Thursday, April 11th. TD Cowen boosted their target price on Itron from $107.00 to $110.00 and gave the stock an “outperform” rating in a report on Wednesday, March 13th. Finally, TheStreet raised Itron from a “c” rating to a “b-” rating in a report on Monday, February 26th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Itron currently has a consensus rating of “Moderate Buy” and an average price target of $95.60.

Insider Activity at Itron

In related news, Director Jerome J. Lande sold 14,896 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $95.25, for a total transaction of $1,418,844.00. Following the completion of the sale, the director now owns 5,750 shares in the company, valued at $547,687.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Director Jerome J. Lande sold 14,896 shares of the company’s stock in a transaction on Thursday, March 7th. The stock was sold at an average price of $95.25, for a total transaction of $1,418,844.00. Following the completion of the sale, the director now owns 5,750 shares in the company, valued at $547,687.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Donald L. Reeves III sold 502 shares of the company’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $91.02, for a total value of $45,692.04. Following the sale, the senior vice president now owns 16,427 shares of the company’s stock, valued at approximately $1,495,185.54. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,467 shares of company stock worth $2,752,520. 1.45% of the stock is owned by insiders.

Itron Company 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.