Allspring Global Investments Holdings LLC Buys 7,105 Shares of Itron, Inc. (NASDAQ:ITRI)

Allspring Global Investments Holdings LLC increased its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 118,416.7% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 7,111 shares of the scientific and technical instruments company’s stock after acquiring an additional 7,105 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Itron were worth $704,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of ITRI. Hexagon Capital Partners LLC increased its position in 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 acquiring an additional 125 shares during the period. Contravisory Investment Management Inc. increased its holdings in shares of Itron by 61.5% during the first quarter. Contravisory Investment Management Inc. now owns 344 shares of the scientific and technical instruments company’s stock worth $32,000 after purchasing an additional 131 shares during the period. GAMMA Investing LLC raised its position in shares of Itron by 32.7% in the first quarter. GAMMA Investing LLC now owns 491 shares of the scientific and technical instruments company’s stock valued at $45,000 after buying an additional 121 shares in the last quarter. C M Bidwell & Associates Ltd. bought a new stake in shares of Itron in the fourth quarter valued at approximately $76,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in Itron during the fourth quarter worth approximately $81,000. Institutional investors and hedge funds own 96.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently commented on ITRI. JPMorgan Chase & Co. boosted their price target on Itron from $104.00 to $112.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Roth Mkm reiterated a “buy” rating and issued a $125.00 price target on shares of Itron in a research note on Wednesday, August 21st. BNP Paribas assumed coverage on shares of Itron in a report on Thursday. They issued an “outperform” rating and a $133.00 price objective for the company. Canaccord Genuity Group lifted their target price on Itron from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Finally, Oppenheimer boosted their price target on shares of Itron from $110.00 to $112.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $118.64.

Insider Transactions at Itron

In other news, SVP Donald L. Reeves III sold 4,210 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total transaction of $425,210.00. Following the transaction, the senior vice president now owns 16,269 shares of the company’s stock, valued at approximately $1,643,169. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Itron news, CFO Joan S. Hooper sold 509 shares of Itron stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $102.15, for a total transaction of $51,994.35. Following the completion of the transaction, the chief financial officer now owns 72,338 shares of the company’s stock, valued at approximately $7,389,326.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Donald L. Reeves III sold 4,210 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total transaction of $425,210.00. Following the completion of the sale, the senior vice president now directly owns 16,269 shares in the company, valued at $1,643,169. The disclosure for this sale can be found here. Insiders sold a total of 5,776 shares of company stock worth $584,721 in the last quarter. Insiders own 1.45% of the company’s stock.

Itron Stock Performance

NASDAQ ITRI opened at $98.47 on Friday. Itron, Inc. has a 12-month low of $56.11 and a 12-month high of $113.07. The company has a market cap of $4.52 billion, a P/E ratio of 28.30, a PEG ratio of 0.86 and a beta of 1.45. The company has a fifty day simple moving average of $100.50 and a 200 day simple moving average of $98.16. The company has a current ratio of 3.16, a quick ratio of 2.61 and a debt-to-equity ratio of 0.98.

Itron (NASDAQ:ITRI) last posted its 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. Itron had a return on equity of 16.42% and a net margin of 7.98%. The company had revenue of $609.07 million for the quarter, compared to analyst estimates of $599.25 million. During the same quarter last year, the company earned $0.65 earnings per share. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. Sell-side analysts predict that Itron, Inc. will post 4.59 earnings per share 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.