Oliver Luxxe Assets LLC Makes New Investment in Itron, Inc. (NASDAQ:ITRI)

Oliver Luxxe Assets LLC purchased a new position in Itron, Inc. (NASDAQ:ITRI) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,300 shares of the scientific and technical instruments company’s stock, valued at approximately $768,000.

Several other hedge funds have also added to or reduced their stakes in the business. Contravisory Investment Management Inc. raised its stake 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 valued at $32,000 after acquiring an additional 131 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Itron by 32.7% during the first quarter. GAMMA Investing LLC now owns 491 shares of the scientific and technical instruments company’s stock valued at $45,000 after acquiring an additional 121 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of Itron during the first quarter valued at about $2,002,000. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Itron by 45.4% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 56,195 shares of the scientific and technical instruments company’s stock valued at $4,243,000 after acquiring an additional 17,539 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. bought a new position in shares of Itron during the fourth quarter valued at about $76,000. 96.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ITRI shares. TD Cowen upped their price objective 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. JPMorgan Chase & Co. upped their price objective on shares of Itron from $77.00 to $92.00 and gave the company a “neutral” rating in a research note on Wednesday, March 13th. Robert W. Baird increased their price target on shares of Itron from $108.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 13th. Piper Sandler downgraded shares of Itron from an “overweight” rating to a “neutral” rating and set a $109.00 price target for the company. in a research note on Tuesday, May 21st. Finally, Stephens increased their price target on shares of Itron from $85.00 to $110.00 and gave the stock an “equal weight” rating in a research note on Monday, May 6th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $104.64.

Insider Activity

In other news, SVP Christopher E. Ware sold 311 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $106.84, for a total transaction of $33,227.24. Following the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Christopher E. Ware sold 311 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $106.84, for a total transaction of $33,227.24. Following the sale, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joan S. Hooper sold 501 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $108.87, for a total transaction of $54,543.87. Following the sale, the chief financial officer now owns 72,847 shares in the company, valued at $7,930,852.89. The disclosure for this sale can be found here. Insiders have sold 1,775 shares of company stock worth $192,613 in the last three months. Company insiders own 1.45% of the company’s stock.

Itron Stock Down 0.8 %

ITRI opened at $98.18 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.40 and a debt-to-equity ratio of 0.33. Itron, Inc. has a 1-year low of $56.11 and a 1-year high of $111.00. The company has a market capitalization of $4.50 billion, a PE ratio of 28.21, a PEG ratio of 0.95 and a beta of 1.45. The firm’s 50 day simple moving average is $103.96 and its two-hundred day simple moving average is $89.47.

Itron (NASDAQ:ITRI) last released its quarterly earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share for the quarter, topping 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 business had revenue of $603.44 million for the quarter, compared to the consensus estimate of $579.49 million. During the same period last year, the firm earned $0.49 earnings per share. The company’s quarterly revenue was up 22.0% on a year-over-year basis. As a group, equities analysts forecast that Itron, Inc. will post 4 EPS for the current year.

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.