Tema Etfs LLC Takes $517,000 Position in Itron, Inc. (NASDAQ:ITRI)

Tema Etfs LLC bought a new stake in Itron, Inc. (NASDAQ:ITRI) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,760 shares of the scientific and technical instruments company’s stock, valued at approximately $517,000.

Other institutional investors also recently modified their holdings of the company. GeoWealth Management LLC grew its holdings in shares of Itron by 4,580.0% in the fourth quarter. GeoWealth Management LLC now owns 234 shares of the scientific and technical instruments company’s stock valued at $25,000 after acquiring an additional 229 shares in the last quarter. CoreCap Advisors LLC lifted its stake in Itron by 25.5% in the fourth quarter. CoreCap Advisors LLC now owns 616 shares of the scientific and technical instruments company’s stock valued at $67,000 after purchasing an additional 125 shares during the last quarter. Hager Investment Management Services LLC purchased a new position in Itron in the fourth quarter valued at approximately $67,000. Smartleaf Asset Management LLC lifted its stake in Itron by 347.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 886 shares of the scientific and technical instruments company’s stock valued at $97,000 after purchasing an additional 688 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC lifted its stake in Itron by 43.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,820 shares of the scientific and technical instruments company’s stock valued at $198,000 after purchasing an additional 548 shares during the last quarter. 96.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ITRI has been the topic of several research analyst reports. StockNews.com downgraded Itron from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 1st. Canaccord Genuity Group upped their price objective on Itron from $130.00 to $132.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Oppenheimer upped their price objective on Itron from $124.00 to $131.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Guggenheim reiterated a “buy” rating and issued a $133.00 price objective on shares of Itron in a research note on Thursday, April 17th. Finally, Piper Sandler dropped their price objective on Itron from $124.00 to $121.00 and set a “neutral” rating on the stock in a research note on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $127.36.

Itron Trading Up 0.5%

Shares of ITRI stock opened at $114.82 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36. Itron, Inc. has a 52-week low of $90.11 and a 52-week high of $124.90. The company has a market capitalization 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. The business’s fifty day moving average is $105.28 and its 200 day moving average is $107.97.

Itron (NASDAQ:ITRI) last issued its quarterly earnings data on Thursday, May 1st. The scientific and technical instruments company reported $1.52 earnings per share (EPS) for the quarter, topping 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 company had revenue of $607.15 million for the quarter, compared to the consensus estimate of $608.86 million. During the same quarter last year, the business posted $1.24 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. On average, equities research analysts anticipate that Itron, Inc. will post 5.33 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO David Marshall Wright sold 317 shares of the stock in a transaction 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 owns 8,108 shares in the company, valued at approximately $753,233.20. This trade represents a 3.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mary C. Hemmingsen sold 750 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $107.27, for a total value of $80,452.50. Following the completion of the transaction, the director now directly owns 5,630 shares in the company, valued at approximately $603,930.10. This represents a 11.76% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,187 shares of company stock worth $945,620. Corporate insiders own 1.45% of the company’s stock.

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.