AlphaMark Advisors LLC Acquires New Position in Itron, Inc. (NASDAQ:ITRI)

AlphaMark Advisors LLC bought a new position in shares of Itron, Inc. (NASDAQ:ITRI) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 4,033 shares of the scientific and technical instruments company’s stock, valued at approximately $373,000.

Several other large investors have also added to or reduced their stakes in the company. Oliver Luxxe Assets LLC bought a new stake in shares of Itron during the 1st quarter valued at $768,000. Contravisory Investment Management Inc. raised its holdings in Itron by 61.5% during the first quarter. Contravisory Investment Management Inc. now owns 344 shares of the scientific and technical instruments company’s stock valued at $32,000 after acquiring an additional 131 shares during the period. GAMMA Investing LLC lifted its position in shares of Itron by 32.7% in the first quarter. GAMMA Investing LLC now owns 491 shares of the scientific and technical instruments company’s stock valued at $45,000 after acquiring an additional 121 shares in the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Itron in the first quarter worth about $2,002,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in shares of Itron by 45.4% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 56,195 shares of the scientific and technical instruments company’s stock worth $4,243,000 after purchasing an additional 17,539 shares in the last quarter. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Canaccord Genuity Group increased their price objective on shares of Itron from $115.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, June 20th. JPMorgan Chase & Co. lifted their price target on shares of Itron from $77.00 to $92.00 and gave the company a “neutral” rating in a report on Wednesday, March 13th. TD Cowen raised their price objective on Itron from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Piper Sandler downgraded Itron from an “overweight” rating to a “neutral” rating and set a $109.00 target price on the stock. in a research report on Tuesday, May 21st. Finally, Oppenheimer raised their price target on Itron from $100.00 to $110.00 and gave the company an “outperform” rating in a report on Friday, May 3rd. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $104.64.

Itron Stock Down 0.8 %

Shares of ITRI traded down $0.78 during midday trading on Monday, reaching $98.18. 331,101 shares of the stock were exchanged, compared to its average volume of 486,262. The company has a current ratio of 1.90, a quick ratio of 1.40 and a debt-to-equity ratio of 0.33. The company’s 50 day moving average is $103.96 and its two-hundred day moving average is $89.47. The company has a market capitalization of $4.50 billion, a P/E ratio of 28.21, a PEG ratio of 0.95 and a beta of 1.45. Itron, Inc. has a 52 week low of $56.11 and a 52 week high of $111.00.

Itron (NASDAQ:ITRI) last issued its earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.85 by $0.39. Itron had a net margin of 7.03% and a return on equity of 14.51%. The company had revenue of $603.44 million for the quarter, compared to analysts’ expectations of $579.49 million. During the same period in the prior year, the business earned $0.49 EPS. The firm’s quarterly revenue was up 22.0% on a year-over-year basis. On average, sell-side analysts anticipate that Itron, Inc. will post 4 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Thomas Deitrich sold 873 shares of Itron stock in a transaction on Friday, May 24th. The stock was sold at an average price of $108.87, for a total value of $95,043.51. Following the transaction, the chief executive officer now directly owns 206,163 shares in the company, valued at approximately $22,444,965.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Thomas Deitrich sold 873 shares of the firm’s stock in a transaction dated Friday, May 24th. The shares were sold at an average price of $108.87, for a total value of $95,043.51. Following the sale, the chief executive officer now directly owns 206,163 shares in the company, valued at approximately $22,444,965.81. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Joan S. Hooper sold 501 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was sold at an average price of $108.87, for a total transaction of $54,543.87. Following the transaction, the chief financial officer now owns 72,847 shares of the company’s stock, valued at approximately $7,930,852.89. The disclosure for this sale can be found here. Insiders sold 1,775 shares of company stock valued at $192,613 over the last 90 days. Corporate insiders own 1.45% of the company’s stock.

Itron 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.