CoreCap Advisors LLC Increases Holdings in Itron, Inc. (NASDAQ:ITRI)

CoreCap Advisors LLC grew its holdings in shares of Itron, Inc. (NASDAQ:ITRI) by 25.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 616 shares of the scientific and technical instruments company’s stock after buying an additional 125 shares during the quarter. CoreCap Advisors LLC’s holdings in Itron were worth $67,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in ITRI. Norges Bank purchased a new stake in shares of Itron during the 4th quarter valued at about $64,615,000. Bowen Hanes & Co. Inc. purchased a new stake in Itron in the 4th quarter worth about $27,486,000. Wellington Management Group LLP raised its position in Itron by 180.7% in the 4th quarter. Wellington Management Group LLP now owns 333,363 shares of the scientific and technical instruments company’s stock worth $36,197,000 after purchasing an additional 214,600 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Itron by 85.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 425,484 shares of the scientific and technical instruments company’s stock worth $46,199,000 after purchasing an additional 196,396 shares during the period. Finally, Schroder Investment Management Group raised its position in Itron by 42.1% in the 4th quarter. Schroder Investment Management Group now owns 253,526 shares of the scientific and technical instruments company’s stock worth $27,528,000 after purchasing an additional 75,166 shares during the period. 96.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Mary C. Hemmingsen sold 750 shares of the stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $107.27, for a total transaction of $80,452.50. Following the completion of the sale, the director now owns 5,630 shares of the company’s stock, valued at $603,930.10. This represents a 11.76% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Christopher E. Ware sold 648 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $92.90, for a total transaction of $60,199.20. Following the sale, the senior vice president now directly owns 20,326 shares of the company’s stock, valued at $1,888,285.40. The trade was a 3.09% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,187 shares of company stock worth $945,620. Corporate insiders own 1.45% of the company’s stock.

Itron Price Performance

NASDAQ ITRI opened at $115.10 on Wednesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36. The firm’s 50 day moving average price is $104.68 and its 200-day moving average price is $107.76. Itron, Inc. has a 52-week low of $90.11 and a 52-week high of $124.90. The company has a market cap of $5.25 billion, a PE ratio of 23.59, a P/E/G ratio of 0.81 and a beta of 1.31.

Itron (NASDAQ:ITRI) last released its quarterly earnings data on Thursday, May 1st. The scientific and technical instruments company reported $1.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.30 by $0.22. Itron had a net margin of 9.37% and a return on equity of 19.03%. The firm had revenue of $607.15 million for the quarter, compared to the consensus estimate of $608.86 million. During the same period last year, the firm earned $1.24 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. Sell-side analysts forecast that Itron, Inc. will post 5.33 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Piper Sandler reduced their price objective on shares of Itron from $124.00 to $121.00 and set a “neutral” rating on the stock in a research report on Monday, May 5th. Oppenheimer increased their price objective on shares of Itron from $124.00 to $131.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. StockNews.com lowered shares of Itron from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 1st. Guggenheim reissued a “buy” rating and issued a $133.00 price objective on shares of Itron in a research report on Thursday, April 17th. Finally, Canaccord Genuity Group increased their price objective on shares of Itron from $130.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.36.

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.