Nuveen Asset Management LLC Buys 99,142 Shares of Itron, Inc. (NASDAQ:ITRI)

Nuveen Asset Management LLC grew its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 21.5% in the fourth quarter, HoldingsChannel.com reports. The firm owned 560,478 shares of the scientific and technical instruments company’s stock after purchasing an additional 99,142 shares during the period. Nuveen Asset Management LLC’s holdings in Itron were worth $60,857,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. GeoWealth Management LLC boosted its stake in shares of Itron by 4,580.0% in the 4th quarter. GeoWealth Management LLC now owns 234 shares of the scientific and technical instruments company’s stock worth $25,000 after buying an additional 229 shares during the last quarter. CoreCap Advisors LLC boosted its stake in shares of Itron by 25.5% in the 4th quarter. CoreCap Advisors LLC now owns 616 shares of the scientific and technical instruments company’s stock worth $67,000 after buying an additional 125 shares during the last quarter. Hager Investment Management Services LLC purchased a new position in shares of Itron in the 4th quarter worth approximately $67,000. Smartleaf Asset Management LLC boosted its stake in shares of Itron by 347.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 886 shares of the scientific and technical instruments company’s stock worth $97,000 after buying an additional 688 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its stake in shares of Itron by 43.1% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,820 shares of the scientific and technical instruments company’s stock worth $198,000 after buying an additional 548 shares during the last quarter. 96.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

ITRI has been the topic of a number of research analyst reports. StockNews.com downgraded Itron from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 1st. Guggenheim reiterated a “buy” rating and issued a $133.00 price objective on shares of Itron in a research note on Thursday, April 17th. 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. 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. 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 analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Itron has a consensus rating of “Moderate Buy” and a consensus target price of $127.36.

Insider Buying and Selling at Itron

In other news, Director Mary C. Hemmingsen sold 5,150 shares of the company’s stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $108.70, for a total value of $559,805.00. Following the transaction, the director now owns 952 shares of the company’s stock, valued at approximately $103,482.40. This represents a 84.40% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO David Marshall Wright sold 317 shares of the company’s stock in a transaction on Monday, February 24th. The stock was sold at an average price of $92.90, for a total transaction of $29,449.30. Following the completion of the transaction, the chief accounting officer now directly owns 8,108 shares in the company, valued at approximately $753,233.20. The trade was a 3.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,187 shares of company stock valued at $945,620 in the last 90 days. 1.45% of the stock is currently owned by company insiders.

Itron Trading Up 0.5%

Shares of ITRI stock opened at $114.82 on Monday. The company’s fifty day simple moving average is $105.28 and its two-hundred day simple moving average is $107.94. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83. Itron, Inc. has a 1 year low of $90.11 and a 1 year high of $124.90. The stock has a market capitalization of $5.23 billion, a price-to-earnings ratio of 23.53, a PEG 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 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 business had revenue of $607.15 million for the quarter, compared to analysts’ expectations of $608.86 million. During the same quarter in the previous year, the firm posted $1.24 EPS. The business’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, analysts anticipate that Itron, Inc. will post 5.33 earnings per share for the current year.

About Itron

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.