Lisanti Capital Growth LLC Buys New Stake in Itron, Inc. (NASDAQ:ITRI)

Lisanti Capital Growth LLC acquired a new stake in Itron, Inc. (NASDAQ:ITRI) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 32,090 shares of the scientific and technical instruments company’s stock, valued at approximately $2,969,000. Lisanti Capital Growth LLC owned 0.07% of Itron at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Itron by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,668,071 shares of the scientific and technical instruments company’s stock worth $343,372,000 after purchasing an additional 142,564 shares during the last quarter. SG Americas Securities LLC boosted its position in Itron by 99.6% in the 4th quarter. SG Americas Securities LLC now owns 7,879 shares of the scientific and technical instruments company’s stock valued at $595,000 after buying an additional 3,932 shares during the period. Raymond James & Associates increased its holdings in Itron by 51.6% during the 4th quarter. Raymond James & Associates now owns 47,621 shares of the scientific and technical instruments company’s stock worth $3,596,000 after purchasing an additional 16,208 shares during the period. Pinnacle Associates Ltd. raised its holdings in Itron by 0.3% in the fourth quarter. Pinnacle Associates Ltd. now owns 398,372 shares of the scientific and technical instruments company’s stock valued at $30,081,000 after acquiring an additional 1,111 shares in the last quarter. Finally, Braun Stacey Associates Inc. lifted its holdings in Itron by 140.6% during the 4th quarter. Braun Stacey Associates Inc. now owns 216,188 shares of the scientific and technical instruments company’s stock worth $16,324,000 after buying an additional 126,328 shares during the last quarter. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Insider Activity

In related news, SVP Christopher E. Ware sold 311 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $106.84, for a total value of $33,227.24. Following the completion of the sale, the senior vice president now directly owns 15,371 shares in the company, valued at approximately $1,642,237.64. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Joan S. Hooper sold 501 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 transaction of $54,543.87. Following the completion of the transaction, the chief financial officer now directly owns 72,847 shares of the company’s stock, valued at approximately $7,930,852.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Christopher E. Ware sold 311 shares of the company’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $106.84, for a total value of $33,227.24. Following the completion of the sale, the senior vice president now owns 15,371 shares in the company, valued at $1,642,237.64. The disclosure for this sale can be found here. Insiders sold a total of 1,775 shares of company stock worth $192,613 in the last three months. 1.45% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ITRI shares. Piper Sandler cut shares of Itron from an “overweight” rating to a “neutral” rating and set a $109.00 target price on the stock. in a report on Tuesday, May 21st. Oppenheimer upped their price objective on Itron from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Stephens upped their price target on Itron from $85.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Monday, May 6th. Guggenheim upgraded shares of Itron from a “neutral” rating to a “buy” rating and set a $130.00 price objective on the stock in a research report on Thursday. Finally, TD Cowen raised their price objective on shares of Itron from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Friday, May 3rd. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $109.09.

Itron Stock Performance

ITRI stock traded up $1.17 during trading on Friday, reaching $104.59. 916,042 shares of the company’s stock were exchanged, compared to its average volume of 860,685. The firm has a market cap of $4.80 billion, a PE ratio of 30.05, a P/E/G ratio of 0.98 and a beta of 1.45. The company has a quick ratio of 1.40, a current ratio of 1.90 and a debt-to-equity ratio of 0.33. The company’s fifty day moving average price is $104.71 and its 200-day moving average price is $90.88. Itron, Inc. has a 1-year low of $56.11 and a 1-year high of $111.00.

Itron (NASDAQ:ITRI) last announced its earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 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 during the quarter, compared to analysts’ expectations of $579.49 million. During the same period last year, the company posted $0.49 earnings per share. The business’s revenue for the quarter was up 22.0% on a year-over-year basis. On average, research analysts expect that Itron, Inc. will post 4.08 EPS for the current fiscal year.

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.