Janus Henderson Group PLC Raises Stock Position in Itron, Inc. (NASDAQ:ITRI)

Janus Henderson Group PLC lifted its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 2.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 542,943 shares of the scientific and technical instruments company’s stock after acquiring an additional 11,918 shares during the quarter. Janus Henderson Group PLC owned approximately 1.18% of Itron worth $50,233,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of ITRI. SG Americas Securities LLC increased its position in shares of Itron by 99.6% during the fourth quarter. SG Americas Securities LLC now owns 7,879 shares of the scientific and technical instruments company’s stock worth $595,000 after acquiring an additional 3,932 shares during the period. Raymond James & Associates boosted its stake in shares of Itron by 51.6% during the fourth quarter. Raymond James & Associates now owns 47,621 shares of the scientific and technical instruments company’s stock valued at $3,596,000 after purchasing an additional 16,208 shares in the last quarter. Braun Stacey Associates Inc. boosted its stake in shares of Itron by 140.6% during the fourth quarter. Braun Stacey Associates Inc. now owns 216,188 shares of the scientific and technical instruments company’s stock valued at $16,324,000 after purchasing an additional 126,328 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its stake in shares of Itron by 13.7% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 6,194 shares of the scientific and technical instruments company’s stock valued at $472,000 after purchasing an additional 744 shares in the last quarter. Finally, Wakefield Asset Management LLLP boosted its stake in shares of Itron by 10.5% during the fourth quarter. Wakefield Asset Management LLLP now owns 12,036 shares of the scientific and technical instruments company’s stock valued at $909,000 after purchasing an additional 1,144 shares in the last quarter. 96.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO Joan S. Hooper sold 501 shares of the business’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 transaction, the chief financial officer now directly owns 72,847 shares in the company, valued at $7,930,852.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CFO Joan S. Hooper sold 501 shares of the business’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 transaction, the chief financial officer now directly owns 72,847 shares in the company, valued at $7,930,852.89. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Christopher E. Ware sold 311 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $106.84, for a total transaction of $33,227.24. Following the completion of the transaction, 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. Over the last three months, insiders have sold 1,775 shares of company stock worth $192,613. 1.45% of the stock is owned by insiders.

Itron Stock Performance

ITRI traded down $2.29 on Tuesday, reaching $101.54. The stock had a trading volume of 657,564 shares, compared to its average volume of 507,104. Itron, Inc. has a 12-month low of $56.11 and a 12-month high of $111.00. 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 business’s 50-day moving average price is $103.73 and its two-hundred day moving average price is $93.47. The company has a market cap of $4.66 billion, a P/E ratio of 29.18, a price-to-earnings-growth ratio of 0.97 and a beta of 1.45.

Itron (NASDAQ:ITRI) last released its earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $0.85 by $0.39. The business had revenue of $603.44 million during the quarter, compared to analysts’ expectations of $579.49 million. Itron had a net margin of 7.03% and a return on equity of 14.51%. The company’s quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.49 earnings per share. Sell-side analysts forecast that Itron, Inc. will post 4.1 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on ITRI shares. Oppenheimer raised their target price on shares of Itron from $110.00 to $112.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Piper Sandler raised their target price on shares of Itron from $109.00 to $110.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Stephens raised their target price on shares of Itron from $85.00 to $110.00 and gave the company an “equal weight” rating in a research note on Monday, May 6th. Roth Mkm raised their target price on shares of Itron from $112.00 to $122.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Finally, TD Cowen raised their target price on shares of Itron from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $112.09.

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.