AMI Asset Management Corp Sells 22,573 Shares of Itron, Inc. (NASDAQ:ITRI)

AMI Asset Management Corp lowered its stake in Itron, Inc. (NASDAQ:ITRI) by 36.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,870 shares of the scientific and technical instruments company’s stock after selling 22,573 shares during the quarter. AMI Asset Management Corp’s holdings in Itron were worth $3,596,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ITRI. AlphaMark Advisors LLC bought a new position in Itron in the 1st quarter valued at approximately $373,000. Oliver Luxxe Assets LLC bought a new position in Itron in the 1st quarter valued at approximately $768,000. Contravisory Investment Management Inc. raised its holdings 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 raised its holdings in Itron by 32.7% in the 1st 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 during the last quarter. Finally, Los Angeles Capital Management LLC bought a new position in Itron in the 1st quarter valued at approximately $2,002,000. Institutional investors own 96.19% of the company’s stock.

Insider Buying and Selling

In related news, SVP Christopher E. Ware sold 311 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $106.84, for a total value of $33,227.24. Following the transaction, the senior vice president now directly owns 15,371 shares in the company, valued at approximately $1,642,237.64. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, CEO Thomas Deitrich sold 873 shares of the stock in a transaction on Friday, May 24th. The stock was sold at an average price of $108.87, for a total value of $95,043.51. Following the transaction, the chief executive officer now directly owns 206,163 shares in the company, valued at approximately $22,444,965.81. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Christopher E. Ware sold 311 shares of the stock in a transaction on Monday, May 13th. The stock was sold at an average price of $106.84, for a total value 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. Insiders have sold a total of 1,775 shares of company stock worth $192,613 in the last ninety days. Corporate insiders own 1.45% of the company’s stock.

Itron Trading Up 0.7 %

Shares of ITRI stock traded up $0.68 during trading hours on Thursday, hitting $99.47. 145,766 shares of the company were exchanged, compared to its average volume of 790,720. The firm has a market cap of $4.56 billion, a P/E ratio of 28.58, a P/E/G ratio of 0.95 and a beta of 1.45. Itron, Inc. has a fifty-two week low of $56.11 and a fifty-two week high of $111.00. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.40 and a current ratio of 1.90. The company has a 50 day simple moving average of $104.14 and a two-hundred day simple moving average of $89.72.

Itron (NASDAQ:ITRI) last announced its quarterly earnings data on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 EPS for the quarter, topping the consensus estimate of $0.85 by $0.39. The company had revenue of $603.44 million during the quarter, compared to the consensus estimate 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 last year, the firm posted $0.49 EPS. Equities analysts anticipate that Itron, Inc. will post 4 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Stephens raised their price objective 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. JPMorgan Chase & Co. increased their target price on shares of Itron from $77.00 to $92.00 and gave the company a “neutral” rating in a research report on Wednesday, March 13th. Piper Sandler downgraded shares of Itron from an “overweight” rating to a “neutral” rating and set a $109.00 target price for the company. in a research report on Tuesday, May 21st. Oppenheimer increased their target price on shares of Itron from $100.00 to $110.00 and gave the company an “outperform” rating in a research report on Friday, May 3rd. Finally, Canaccord Genuity Group increased their target price on shares of Itron from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Five 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 currently has an average rating of “Moderate Buy” and a consensus price target of $104.64.

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.