Silvercrest Asset Management Group LLC Takes $401,000 Position in Itron, Inc. (NASDAQ:ITRI)

Silvercrest Asset Management Group LLC purchased a new stake in Itron, Inc. (NASDAQ:ITRI) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 400,000 shares of the scientific and technical instruments company’s stock, valued at approximately $401,000. Silvercrest Asset Management Group LLC owned about 0.87% of Itron as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in ITRI. Price T Rowe Associates Inc. MD grew its position in Itron by 6.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 30,298 shares of the scientific and technical instruments company’s stock worth $2,804,000 after buying an additional 1,765 shares in the last quarter. Lazard Asset Management LLC lifted its stake in Itron by 16.2% during the first quarter. Lazard Asset Management LLC now owns 7,898 shares of the scientific and technical instruments company’s stock worth $730,000 after purchasing an additional 1,101 shares during the period. Quadrature Capital Ltd bought a new position in Itron during the first quarter worth about $5,718,000. CANADA LIFE ASSURANCE Co lifted its stake in Itron by 4.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 55,859 shares of the scientific and technical instruments company’s stock worth $5,169,000 after purchasing an additional 2,187 shares during the period. Finally, UniSuper Management Pty Ltd bought a new position in Itron during the first quarter worth about $904,000. 96.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. StockNews.com cut shares of Itron from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 28th. TD Cowen raised their price target on shares of Itron from $110.00 to $115.00 and gave the company a “buy” rating in a report on Friday, May 3rd. Stephens raised their price target on shares of Itron from $85.00 to $110.00 and gave the company an “equal weight” rating in a report on Monday, May 6th. Oppenheimer raised their price target on shares of Itron from $110.00 to $112.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Finally, Piper Sandler raised their price target on shares of Itron from $109.00 to $110.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $112.09.

Insider Activity

In related news, SVP Christopher E. Ware sold 311 shares of the business’s stock in a transaction 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 sale, the senior vice president now directly owns 15,371 shares of the company’s stock, valued at approximately $1,642,237.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Joan S. Hooper sold 501 shares of the 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 in the company, valued at approximately $7,930,852.89. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Christopher E. Ware sold 311 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $106.84, for a total transaction of $33,227.24. Following the transaction, the senior vice president now owns 15,371 shares of the company’s stock, valued at $1,642,237.64. The disclosure for this sale can be found here. Insiders sold 1,775 shares of company stock valued at $192,613 in the last quarter. Company insiders own 1.45% of the company’s stock.

Itron Price Performance

Shares of ITRI stock opened at $103.44 on Thursday. Itron, Inc. has a 12-month low of $56.11 and a 12-month high of $111.00. The firm has a market capitalization of $4.74 billion, a price-to-earnings ratio of 29.72, a price-to-earnings-growth ratio of 0.95 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 firm has a fifty day moving average of $103.62 and a 200-day moving average of $93.67.

Itron (NASDAQ:ITRI) last announced its quarterly earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $579.49 million. During the same quarter in the previous year, the business earned $0.49 EPS. The firm’s revenue was up 22.0% on a year-over-year basis. On average, equities research analysts forecast that Itron, Inc. will post 4.1 earnings per share for the current 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.