7,779 Shares in Itron, Inc. (NASDAQ:ITRI) Acquired by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. acquired a new position in shares of Itron, Inc. (NASDAQ:ITRI) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 7,779 shares of the scientific and technical instruments company’s stock, valued at approximately $587,000.

A number of other hedge funds have also recently made changes to their positions in the stock. State of Wyoming purchased a new position in Itron in the 4th quarter valued at approximately $29,000. Quarry LP raised its stake in shares of Itron by 240.5% in the second quarter. Quarry LP now owns 429 shares of the scientific and technical instruments company’s stock valued at $31,000 after acquiring an additional 303 shares in the last quarter. Covestor Ltd boosted its holdings in Itron by 9,150.0% in the third quarter. Covestor Ltd now owns 555 shares of the scientific and technical instruments company’s stock valued at $34,000 after purchasing an additional 549 shares during the period. US Bancorp DE grew its stake in Itron by 30.7% during the 1st quarter. US Bancorp DE now owns 1,040 shares of the scientific and technical instruments company’s stock worth $54,000 after purchasing an additional 244 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in Itron during the 2nd quarter worth $66,000. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Analysts Set New Price Targets

ITRI has been the subject of several analyst reports. TD Cowen boosted their target price on Itron from $107.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 13th. JPMorgan Chase & Co. boosted their target price on Itron from $77.00 to $92.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 13th. Canaccord Genuity Group raised Itron from a “hold” rating to a “buy” rating and boosted their target price for the stock from $68.00 to $105.00 in a research note on Tuesday, February 27th. Oppenheimer raised Itron from a “market perform” rating to an “outperform” rating and set a $81.00 target price for the company in a research note on Friday, January 19th. Finally, Raymond James cut Itron from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 4th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $95.60.

Itron Stock Performance

NASDAQ ITRI opened at $90.76 on Wednesday. The company has a current ratio of 1.95, a quick ratio of 1.43 and a debt-to-equity ratio of 0.34. The business’s 50 day moving average is $87.01 and its two-hundred day moving average is $74.36. Itron, Inc. has a 12-month low of $50.60 and a 12-month high of $96.73. The stock has a market capitalization of $4.16 billion, a price-to-earnings ratio of 43.22, a PEG ratio of 1.00 and a beta of 1.41.

Itron (NASDAQ:ITRI) last released its earnings results on Monday, February 26th. The scientific and technical instruments company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.48. Itron had a return on equity of 12.27% and a net margin of 4.46%. The company had revenue of $577.17 million for the quarter, compared to analysts’ expectations of $569.90 million. During the same quarter in the previous year, the firm posted $0.71 EPS. The firm’s quarterly revenue was up 23.5% on a year-over-year basis. Research analysts expect that Itron, Inc. will post 3.61 EPS for the current year.

Insiders Place Their Bets

In other Itron news, Director Jerome J. Lande sold 14,896 shares of the business’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $95.25, for a total transaction of $1,418,844.00. Following the transaction, the director now owns 5,750 shares in the company, valued at approximately $547,687.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Jerome J. Lande sold 14,896 shares of the company’s stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $95.25, for a total value of $1,418,844.00. Following the sale, the director now owns 5,750 shares in the company, valued at approximately $547,687.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Joan S. Hooper sold 1,560 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total value of $117,577.20. Following the completion of the sale, the chief financial officer now owns 60,141 shares in the company, valued at approximately $4,532,827.17. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 30,467 shares of company stock worth $2,752,520. Company insiders own 1.45% of the company’s stock.

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.