SG Americas Securities LLC Lowers Stock Holdings in Itron, Inc. (NASDAQ:ITRI)

SG Americas Securities LLC cut its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 64.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,807 shares of the scientific and technical instruments company’s stock after selling 3,283 shares during the period. SG Americas Securities LLC’s holdings in Itron were worth $179,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Hexagon Capital Partners LLC raised its stake in shares of Itron by 85.6% during the second quarter. Hexagon Capital Partners LLC now owns 271 shares of the scientific and technical instruments company’s stock worth $27,000 after purchasing an additional 125 shares during the last quarter. Contravisory Investment Management Inc. grew its position in Itron by 61.5% in the 1st quarter. Contravisory Investment Management Inc. now owns 344 shares of the scientific and technical instruments company’s stock valued at $32,000 after buying an additional 131 shares during the last quarter. GAMMA Investing LLC acquired a new position in Itron in the 4th quarter valued at $27,000. Harvest Fund Management Co. Ltd purchased a new position in Itron during the 4th quarter worth $50,000. Finally, CWM LLC lifted its stake in shares of Itron by 315.6% in the 2nd quarter. CWM LLC now owns 881 shares of the scientific and technical instruments company’s stock worth $87,000 after acquiring an additional 669 shares during the period. 96.19% of the stock is currently owned by hedge funds and other institutional investors.

Itron Stock Performance

NASDAQ ITRI opened at $101.96 on Friday. The business has a 50 day moving average price of $100.42 and a 200 day moving average price of $96.75. The company has a market capitalization of $4.68 billion, a P/E ratio of 29.30, a PEG ratio of 0.91 and a beta of 1.45. Itron, Inc. has a 1-year low of $56.11 and a 1-year high of $113.07. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.16 and a quick ratio of 1.40.

Itron (NASDAQ:ITRI) last announced its quarterly earnings results on Thursday, August 1st. The scientific and technical instruments company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.25. The business had revenue of $609.07 million during the quarter, compared to analysts’ expectations of $599.25 million. Itron had a return on equity of 16.42% and a net margin of 7.98%. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter last year, the business posted $0.65 earnings per share. Sell-side analysts expect that Itron, Inc. will post 4.55 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Guggenheim upgraded shares of Itron from a “neutral” rating to a “buy” rating and set a $130.00 price target on the stock in a research note on Thursday, July 11th. Robert W. Baird lifted their price objective on Itron from $115.00 to $123.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Piper Sandler increased their target price on Itron from $109.00 to $110.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Stephens reissued an “equal weight” rating and issued a $110.00 price target on shares of Itron in a report on Monday, August 5th. Finally, Oppenheimer upped their price objective on Itron from $110.00 to $112.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Itron presently has an average rating of “Moderate Buy” and a consensus target price of $117.20.

Insider Buying and Selling at Itron

In other Itron news, SVP Donald L. Reeves III sold 4,210 shares of Itron stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total transaction of $425,210.00. Following the completion of the transaction, the senior vice president now owns 16,269 shares in the company, valued at $1,643,169. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.45% of the stock is currently owned by insiders.

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.