Commonwealth Equity Services LLC Purchases New Stake in Itron, Inc. (NASDAQ:ITRI)

Commonwealth Equity Services LLC purchased a new stake in Itron, Inc. (NASDAQ:ITRI) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,283 shares of the scientific and technical instruments company’s stock, valued at approximately $291,000.

Several other large investors also recently bought and sold shares of the stock. Victory Capital Management Inc. increased its holdings in shares of Itron by 39.2% in the first quarter. Victory Capital Management Inc. now owns 832,468 shares of the scientific and technical instruments company’s stock valued at $73,798,000 after purchasing an additional 234,533 shares during the last quarter. Robeco Schweiz AG increased its stake in Itron by 41.4% during the first quarter. Robeco Schweiz AG now owns 810,000 shares of the scientific and technical instruments company’s stock worth $71,807,000 after acquiring an additional 237,000 shares during the last quarter. Ellevest Inc. increased its stake in Itron by 120.9% during the first quarter. Ellevest Inc. now owns 667 shares of the scientific and technical instruments company’s stock worth $59,000 after acquiring an additional 365 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in Itron by 2.6% during the first quarter. The Manufacturers Life Insurance Company now owns 24,582 shares of the scientific and technical instruments company’s stock worth $2,179,000 after acquiring an additional 633 shares during the last quarter. Finally, MESIROW FINANCIAL INVESTMENT MANAGEMENT Equity & Fixed Income acquired a new stake in Itron during the first quarter worth $180,000. 96.57% of the stock is owned by hedge funds and other institutional investors.

Several equities research analysts have issued reports on ITRI shares. Canaccord Genuity cut their target price on Itron from $140.00 to $126.00 and set a “buy” rating for the company in a research note on Tuesday, May 4th. JPMorgan Chase & Co. assumed coverage on Itron in a research note on Friday, March 26th. They set an “overweight” rating and a $110.00 target price for the company. Zacks Investment Research cut Itron from a “hold” rating to a “strong sell” rating and set a $123.00 price objective for the company. in a research note on Friday, February 26th. Oppenheimer dropped their price objective on Itron from $127.00 to $105.00 and set an “outperform” rating for the company in a research note on Tuesday, May 4th. Finally, Argus raised Itron from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research note on Wednesday, March 3rd. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $108.89.

In other news, CFO Joan S. Hooper sold 486 shares of the business’s stock in a transaction dated Monday, May 10th. The stock was sold at an average price of $86.95, for a total value of $42,257.70. Following the completion of the sale, the chief financial officer now directly owns 39,230 shares of the company’s stock, valued at approximately $3,411,048.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Sarah E. Hlavinka sold 2,304 shares of the business’s stock in a transaction dated Friday, May 28th. The shares were sold at an average price of $96.16, for a total value of $221,552.64. Following the completion of the sale, the senior vice president now directly owns 20,546 shares of the company’s stock, valued at $1,975,703.36. The disclosure for this sale can be found here. Insiders sold a total of 3,641 shares of company stock valued at $338,833 over the last three months. Company insiders own 1.25% of the company’s stock.

Shares of NASDAQ ITRI opened at $96.66 on Friday. The stock has a market cap of $4.36 billion, a P/E ratio of -71.07, a price-to-earnings-growth ratio of 3.22 and a beta of 1.16. The company has a debt-to-equity ratio of 0.41, a current ratio of 1.39 and a quick ratio of 1.20. The business’s 50-day simple moving average is $91.10. Itron, Inc. has a 1 year low of $53.49 and a 1 year high of $122.31.

Itron (NASDAQ:ITRI) last announced its quarterly earnings results on Sunday, May 2nd. The scientific and technical instruments company reported $0.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.42 by $0.10. The company had revenue of $519.60 million during the quarter, compared to the consensus estimate of $547.37 million. Itron had a positive return on equity of 8.11% and a negative net margin of 2.58%. Itron’s revenue for the quarter was down 13.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.57 EPS. Equities analysts anticipate that Itron, Inc. will post 2.48 earnings per share for the current year.

About Itron

Itron, Inc, a technology and service company, provides end-to-end solutions that help manage operations in the energy, water, and smart city space worldwide. The company operates through three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing.

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Institutional Ownership by Quarter for Itron (NASDAQ:ITRI)

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