Nuveen Asset Management LLC Has $60.86 Million Stake in Itron, Inc. (NASDAQ:ITRI)

Nuveen Asset Management LLC lifted its position in shares of Itron, Inc. (NASDAQ:ITRI) by 21.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 560,478 shares of the scientific and technical instruments company’s stock after acquiring an additional 99,142 shares during the quarter. Nuveen Asset Management LLC owned approximately 1.24% of Itron worth $60,857,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ITRI. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Itron by 78.3% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 6,083 shares of the scientific and technical instruments company’s stock valued at $660,000 after acquiring an additional 2,671 shares in the last quarter. Merit Financial Group LLC acquired a new stake in shares of Itron during the 4th quarter valued at $301,000. Janney Montgomery Scott LLC boosted its holdings in shares of Itron by 45.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 16,674 shares of the scientific and technical instruments company’s stock valued at $1,810,000 after acquiring an additional 5,249 shares in the last quarter. Mount Yale Investment Advisors LLC acquired a new position in Itron during the 4th quarter worth about $286,000. Finally, Moody Aldrich Partners LLC lifted its holdings in Itron by 7.3% during the 4th quarter. Moody Aldrich Partners LLC now owns 43,053 shares of the scientific and technical instruments company’s stock worth $4,675,000 after buying an additional 2,945 shares during the period. Institutional investors and hedge funds own 96.19% of the company’s stock.

Itron Stock Performance

ITRI stock opened at $114.82 on Monday. The stock has a 50-day moving average price of $105.28 and a 200-day moving average price of $107.94. Itron, Inc. has a 1-year low of $90.11 and a 1-year high of $124.90. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91. The firm has a market cap of $5.23 billion, a PE ratio of 23.53, a price-to-earnings-growth ratio of 0.81 and a beta of 1.31.

Itron (NASDAQ:ITRI) last issued its earnings results on Thursday, May 1st. The scientific and technical instruments company reported $1.52 EPS for the quarter, beating analysts’ consensus estimates of $1.30 by $0.22. Itron had a return on equity of 19.03% and a net margin of 9.37%. The business had revenue of $607.15 million during the quarter, compared to analyst estimates of $608.86 million. During the same period in the previous year, the company posted $1.24 EPS. The firm’s revenue was up .6% compared to the same quarter last year. As a group, equities research analysts expect that Itron, Inc. will post 5.33 earnings per share for the current year.

Analysts Set New Price Targets

Several research analysts have commented on the company. Guggenheim reaffirmed a “buy” rating and set a $133.00 target price on shares of Itron in a report on Thursday, April 17th. Oppenheimer lifted their target price on Itron from $124.00 to $131.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Canaccord Genuity Group lifted their target price on Itron from $130.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. StockNews.com downgraded Itron from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 1st. Finally, Piper Sandler cut their target price on Itron from $124.00 to $121.00 and set a “neutral” rating on the stock in a report on Monday, May 5th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $127.36.

Insider Activity at Itron

In other Itron news, Director Mary C. Hemmingsen sold 5,150 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $108.70, for a total transaction of $559,805.00. Following the completion of the sale, the director now directly owns 952 shares of the company’s stock, valued at approximately $103,482.40. The trade was a 84.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO David Marshall Wright sold 317 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $29,449.30. Following the sale, the chief accounting officer now directly owns 8,108 shares of the company’s stock, valued at $753,233.20. This represents a 3.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,187 shares of company stock valued at $945,620 in the last three months. Corporate insiders own 1.45% of the company’s stock.

Itron 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.