Inspire Investing LLC lowered its position in shares of Itron, Inc. (NASDAQ:ITRI – Free Report) by 63.5% during the first quarter, HoldingsChannel.com reports. The fund owned 6,987 shares of the scientific and technical instruments company’s stock after selling 12,173 shares during the quarter. Inspire Investing LLC’s holdings in Itron were worth $626,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of the business. Janney Montgomery Scott LLC boosted its stake in Itron by 25.0% during the first quarter. Janney Montgomery Scott LLC now owns 46,162 shares of the scientific and technical instruments company’s stock worth $4,138,000 after acquiring an additional 9,222 shares in the last quarter. Pictet Asset Management Holding SA increased its position in Itron by 8.3% in the 1st quarter. Pictet Asset Management Holding SA now owns 6,902 shares of the scientific and technical instruments company’s stock valued at $619,000 after buying an additional 530 shares in the last quarter. Louisiana State Employees Retirement System acquired a new position in Itron during the 1st quarter worth approximately $1,819,000. Davis Investment Partners LLC raised its stake in Itron by 15.3% during the 1st quarter. Davis Investment Partners LLC now owns 5,953 shares of the scientific and technical instruments company’s stock worth $534,000 after buying an additional 790 shares during the period. Finally, OP Asset Management Ltd bought a new position in Itron in the first quarter worth approximately $310,000. 96.19% of the stock is currently owned by institutional investors and hedge funds.
Itron Stock Down 2.4%
Itron stock opened at $84.49 on Thursday. Itron, Inc. has a fifty-two week low of $77.77 and a fifty-two week high of $142.00. The company has a debt-to-equity ratio of 0.97, a quick ratio of 2.24 and a current ratio of 2.66. The firm’s 50-day simple moving average is $82.95 and its 200 day simple moving average is $91.09. The stock has a market cap of $3.75 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 0.76 and a beta of 1.32.
Wall Street Analysts Forecast Growth
A number of equities research analysts have commented on ITRI shares. TD Cowen reduced their price objective on Itron from $145.00 to $130.00 and set a “buy” rating for the company in a research note on Wednesday, April 29th. JPMorgan Chase & Co. cut their target price on Itron from $133.00 to $113.00 and set an “overweight” rating on the stock in a report on Thursday, April 16th. Weiss Ratings reissued a “hold (c)” rating on shares of Itron in a research report on Friday, May 8th. Needham & Company LLC started coverage on shares of Itron in a research note on Friday, March 6th. They set a “buy” rating and a $124.00 price target for the company. Finally, Roth Mkm restated a “buy” rating and set a $136.00 price objective on shares of Itron in a report on Wednesday, April 29th. Eight research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Itron has an average rating of “Moderate Buy” and an average price target of $131.22.
Get Our Latest Research Report on Itron
Insider Buying and Selling
In other Itron news, SVP Donald L. Reeves III sold 319 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $84.37, for a total value of $26,914.03. Following the transaction, the senior vice president owned 29,100 shares of the company’s stock, valued at approximately $2,455,167. The trade was a 1.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Joan S. Hooper sold 442 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were sold at an average price of $84.37, for a total value of $37,291.54. Following the completion of the transaction, the chief financial officer owned 117,478 shares of the company’s stock, valued at $9,911,618.86. This trade represents a 0.37% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 3,946 shares of company stock worth $324,420. 1.77% of the stock is owned by company insiders.
Itron Profile
Itron, Inc (NASDAQ: ITRI) is a global technology company that develops innovative solutions to measure, manage and analyze the use of energy and water. Its comprehensive portfolio includes smart meters, data collection devices, communication networks and advanced software applications designed to optimize utility operations and foster sustainable resource management. The company’s offerings enable utilities and cities to accurately monitor consumption patterns, streamline billing processes and improve grid reliability.
Itron’s product lineup spans a range of hardware and software solutions, from residential and commercial smart meters to meter data management systems (MDMS), networked communication platforms and analytics tools.
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