Yousif Capital Management LLC, a renowned investment firm, has recently decreased its holdings in Itron, Inc. (NASDAQ:ITRI) by 11.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The company now owns 25,372 shares of Itron’s stock after selling 3,255 shares during this period. With a total worth of $1,407,000 as of its latest SEC filing, Yousif Capital Management LLC holds approximately 0.06% ownership in Itron.
Itron (NASDAQ:ITRI) released its quarterly earnings data on Thursday, May 4th. The company exceeded analysts’ expectations by reporting an earnings per share (EPS) of $0.49 for the quarter, surpassing the consensus estimate of $0.11 by an impressive margin of $0.38. Despite a negative net margin of 1.24%, Itron demonstrated a positive return on equity of 5.88%. Furthermore, the company generated revenue amounting to $494.62 million during this quarter, outperforming analyst predictions of $464.26 million. Comparatively, in the same period last year, Itron posted earnings per share of $0.11 and witnessed a growth rate in quarterly revenue by 4.1% on a year-over-year basis.
Industry experts have projected that Itron, Inc.’s performance will continue to impress as it is expected to post earnings per share of 1.51 for the current fiscal year.
Itron stands as a leading technology and service company that operates globally and provides comprehensive solutions to manage operations in the energy sector, water industry, and smart city space as well. The company functions through three distinct segments which include Device Solutions segment responsible for offering hardware products utilized for measurement control or sensing purposes.
Through its Networked Solutions segment, Itron manages networks and solutions related to network communications. Lastly, the Outcomes segment is dedicated to delivering data analytics and managed services that contribute to enhancing operational efficiency.
Itron’s commitment to innovation and technology has propelled its position as a key player in the industry. With a vast array of solutions that aid in managing energy consumption, water resources, and developing smart cities, the company has made significant contributions towards achieving sustainability goals worldwide.
The trimmed holdings by Yousif Capital Management LLC may present an intriguing development in the investment landscape surrounding Itron, Inc., however, it is crucial to consider various factors that might have influenced this decision. Investors should carefully observe how this adjustment will influence Itron’s future growth prospects and position within the market.
As we navigate through an increasingly interconnected world driven by digital transformation and environmental awareness, companies like Itron continue to play a vital role in revolutionizing industries by creating cutting-edge technological advancements and offering innovative services ultimately shaping our planet into a more sustainable and efficient place for all.
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Itron, Inc.: Institutional Investors Show Confidence in Growth Prospects
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”ITRI” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]Itron, Inc. is a leading technology and service company that specializes in providing end-to-end solutions for operations management in the energy, water, and smart city sectors. With a wide range of hardware products used for measurement, control, and sensing, Itron helps organizations optimize their resources and improve efficiency. As a result, it has attracted the attention of institutional investors and hedge funds.
A recent report reveals that several institutional investors have modified their holdings of Itron, indicating confidence in the company’s prospects. For example, the State of Wyoming acquired a new stake in Itron during the fourth quarter of last year. They invested $29,000 into the company’s shares. This move demonstrates their belief in Itron’s potential for growth.
Similarly, Strs Ohio increased its position in Itron by 100% during the first quarter. They now own 600 shares worth $33,000 after acquiring an additional 300 shares. It is clear that Strs Ohio sees significant value in Itron and expects positive returns on their investment.
Another notable investor is Van ECK Associates Corp. They grew their position in Itron by 74.1% during the fourth quarter, purchasing 303 additional shares worth $36,000. This highlights their confidence in Itron’s ability to generate substantial profits.
Luken Investment Analytics LLC also recognized the potential of Itron. During the fourth quarter of last year, they bought a new position in the company worth approximately $46,000. This reflects their belief that Itron will deliver strong results in the future.
Lastly, US Bancorp DE increased its position in Itron by 30.7% during the first quarter by acquiring an additional 244 shares worth $54,000. Their decision to invest further implies their faith in Itron’s performance.
Institutional investors play a crucial role in shaping market trends with their strategic investments. The fact that 96.06% of Itron’s stock is owned by these investors demonstrates the high level of confidence in the company’s future growth.
Turning to Itron’s financial performance, the company’s stock opened at $78.51 on August 2, 2023. Over the past year, Itron has experienced significant fluctuations in its stock price, reaching a low of $39.38 and a high of $78.79. This volatility may be attributed to market dynamics and investor sentiments.
Itron boasts a robust financial position with a current ratio of 1.68 and a quick ratio of 1.19. These ratios indicate the company’s ability to meet its short-term obligations and ensure liquidity.
With a market capitalization of $3.57 billion, Itron holds a strong position in the industry. The company has a price-to-earnings ratio (P/E) of -157.02, indicating that it is currently reporting negative earnings per share. However, this metric might not capture the full potential of Itron’s promising technologies and services.
Several equities analysts have shared their insights on Itron’s performance and future outlook. JPMorgan Chase & Co., for instance, raised their price target from $54 to $64, suggesting that they expect the stock price to appreciate further.
Raymond James lowered their rating from “strong-buy” to “outperform,” but still increased their price target from $70 to $81. This indicates that they believe in Itron’s long-term prospects, albeit with some reservations.
Overall, there is diverse opinion among experts regarding Itron’s investment potential. However, based on Bloomberg consensus ratings data, analysts hold mostly positive views on the company.
In recent news about Itron’s management team, Senior Vice President Donald L.Reeves III sold shares totaling 6,531 in three separate transactions during June and July 2023. These sales were made at average prices ranging from $70.59 to $78 per share.
While these insider sales may raise questions about the company’s prospects, they account for only 1.47% of the total outstanding shares, suggesting that they do not reflect any significant change in Itron’s fundamental value.
In conclusion, Itron, Inc. is a technology and service company that offers comprehensive solutions for operations management in the energy, water, and smart city sectors. Institutional investors are showing confidence in the company by increasing their holdings. Despite fluctuations in its stock price, Itron remains financially strong and holds a prominent position in the industry. Analysts have provided mixed recommendations based on their assessments of Itron’s potential. Its recent insider sales have generated some speculation but do not significantly impact the overall outlook for the company. As always, investors should conduct thorough research and analysis before making investment decisions in the stock market.
This article is intended for informational purposes only and does not constitute investment advice. It is recommended that readers consult with a financial professional before making any investment decisions.
