SIR Capital Management L.P. Buys 12,105 Shares of Itron, Inc. (NASDAQ:ITRI)

SIR Capital Management L.P. increased its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 25.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 59,305 shares of the scientific and technical instruments company’s stock after acquiring an additional 12,105 shares during the period. SIR Capital Management L.P.’s holdings in Itron were worth $6,439,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of ITRI. GeoWealth Management LLC raised its position in Itron by 4,580.0% during the fourth quarter. GeoWealth Management LLC now owns 234 shares of the scientific and technical instruments company’s stock worth $25,000 after acquiring an additional 229 shares in the last quarter. Proficio Capital Partners LLC bought a new position in shares of Itron during the 4th quarter worth approximately $30,000. Hager Investment Management Services LLC acquired a new stake in Itron during the 4th quarter valued at $67,000. CoreCap Advisors LLC boosted its position in Itron by 25.5% during the fourth quarter. CoreCap Advisors LLC now owns 616 shares of the scientific and technical instruments company’s stock worth $67,000 after purchasing an additional 125 shares during the period. Finally, Contravisory Investment Management Inc. increased its holdings in shares of Itron by 154.9% in the fourth quarter. Contravisory Investment Management Inc. now owns 864 shares of the scientific and technical instruments company’s stock valued at $94,000 after purchasing an additional 525 shares during the last quarter. 96.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on ITRI shares. Oppenheimer upped their price target on shares of Itron from $124.00 to $131.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Piper Sandler decreased their target price on Itron from $124.00 to $121.00 and set a “neutral” rating on the stock in a research report on Monday, May 5th. Canaccord Genuity Group increased their price target on Itron from $130.00 to $132.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Guggenheim reiterated a “buy” rating and set a $133.00 target price on shares of Itron in a research report on Thursday, April 17th. Finally, StockNews.com cut Itron from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 1st. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $127.36.

Insider Buying and Selling at Itron

In other news, CFO Joan S. Hooper sold 2,322 shares of the company’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.90, for a total transaction of $215,713.80. Following the completion of the sale, the chief financial officer now owns 92,076 shares of the company’s stock, valued at $8,553,860.40. This represents a 2.46% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO David Marshall Wright sold 317 shares of the firm’s stock in a transaction that occurred 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. In the last three months, insiders have sold 9,187 shares of company stock worth $945,620. Insiders own 1.45% of the company’s stock.

Itron Trading Up 0.4%

NASDAQ:ITRI opened at $114.20 on Friday. The firm has a market capitalization of $5.21 billion, a P/E ratio of 23.40, a P/E/G ratio of 0.81 and a beta of 1.31. Itron, Inc. has a 52 week low of $90.11 and a 52 week high of $124.90. The company has a fifty day moving average of $105.05 and a 200 day moving average of $107.87. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91.

Itron (NASDAQ:ITRI) last posted 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 business had revenue of $607.15 million during the quarter, compared to the consensus estimate of $608.86 million. During the same quarter in the prior year, the company earned $1.24 earnings per share. The firm’s quarterly revenue was up .6% compared to the same quarter last year. On average, research analysts predict 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.