Guinness Atkinson Asset Management Inc Sells 936 Shares of Itron, Inc. (NASDAQ:ITRI)

Guinness Atkinson Asset Management Inc reduced its holdings in shares of Itron, Inc. (NASDAQ:ITRI) by 9.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,619 shares of the scientific and technical instruments company’s stock after selling 936 shares during the quarter. Guinness Atkinson Asset Management Inc’s holdings in Itron were worth $936,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ITRI. Merit Financial Group LLC bought a new stake in shares of Itron during the 4th quarter worth about $301,000. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of Itron by 78.3% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 6,083 shares of the scientific and technical instruments company’s stock worth $660,000 after acquiring an additional 2,671 shares during the period. Contravisory Investment Management Inc. grew its position in shares of Itron by 154.9% in the fourth quarter. Contravisory Investment Management Inc. now owns 864 shares of the scientific and technical instruments company’s stock valued at $94,000 after purchasing an additional 525 shares during the last quarter. Burney Co. increased its stake in shares of Itron by 129.0% during the fourth quarter. Burney Co. now owns 8,795 shares of the scientific and technical instruments company’s stock worth $955,000 after purchasing an additional 4,955 shares during the period. Finally, Green Alpha Advisors LLC lifted its holdings in Itron by 7.2% during the 4th quarter. Green Alpha Advisors LLC now owns 5,878 shares of the scientific and technical instruments company’s stock worth $638,000 after purchasing an additional 395 shares during the last quarter. 96.19% of the stock is owned by institutional investors and hedge funds.

Itron Stock Performance

Shares of NASDAQ:ITRI opened at $105.36 on Monday. The company’s 50 day simple moving average is $112.52 and its 200 day simple moving average is $106.67. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83. Itron, Inc. has a 1 year low of $69.23 and a 1 year high of $124.90. The stock has a market capitalization of $4.75 billion, a price-to-earnings ratio of 21.59, a price-to-earnings-growth ratio of 0.85 and a beta of 1.47.

Itron (NASDAQ:ITRI) last issued its quarterly earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.71. Itron had a return on equity of 19.03% and a net margin of 9.37%. The company had revenue of $615.46 million for the quarter, compared to analyst estimates of $596.41 million. During the same quarter last year, the company posted $0.98 EPS. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, research analysts predict that Itron, Inc. will post 5.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have commented on ITRI shares. TD Cowen upped their price objective on Itron from $125.00 to $136.00 and gave the company a “buy” rating in a report on Friday, November 1st. Roth Mkm upped their price target on shares of Itron from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Piper Sandler lifted their price objective on shares of Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Oppenheimer increased their target price on shares of Itron from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Guggenheim lifted their price target on shares of Itron from $128.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Three 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, Itron currently has an average rating of “Moderate Buy” and a consensus price target of $123.92.

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.