Menard Financial Group LLC Has $541,000 Holdings in Itron, Inc. (NASDAQ:ITRI)

Menard Financial Group LLC increased its position in shares of Itron, Inc. (NASDAQ:ITRI) by 14.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 5,065 shares of the scientific and technical instruments company’s stock after purchasing an additional 633 shares during the period. Menard Financial Group LLC’s holdings in Itron were worth $541,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ITRI. Erste Asset Management GmbH bought a new position in shares of Itron in the 3rd quarter valued at about $38,534,000. Handelsbanken Fonder AB increased its position in Itron by 62.7% during the third quarter. Handelsbanken Fonder AB now owns 899,789 shares of the scientific and technical instruments company’s stock worth $96,106,000 after buying an additional 346,615 shares during the last quarter. Select Equity Group L.P. raised its stake in Itron by 86.2% in the second quarter. Select Equity Group L.P. now owns 603,877 shares of the scientific and technical instruments company’s stock valued at $59,760,000 after buying an additional 279,629 shares during the period. Assenagon Asset Management S.A. raised its stake in Itron by 90.7% in the third quarter. Assenagon Asset Management S.A. now owns 511,734 shares of the scientific and technical instruments company’s stock valued at $54,658,000 after buying an additional 243,355 shares during the period. Finally, Hood River Capital Management LLC acquired a new stake in shares of Itron in the second quarter valued at approximately $22,612,000. 96.19% of the stock is owned by institutional investors.

Insider Activity

In other news, CEO Thomas Deitrich sold 37,500 shares of Itron stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total value of $3,931,125.00. Following the transaction, the chief executive officer now owns 205,276 shares in the company, valued at approximately $21,519,083.08. This trade represents a 15.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.45% of the company’s stock.

Itron Trading Down 0.2 %

Shares of NASDAQ:ITRI opened at $118.04 on Wednesday. The business’s 50 day simple moving average is $111.37 and its 200 day simple moving average is $105.49. Itron, Inc. has a 1 year low of $67.21 and a 1 year high of $124.90. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83. The company has a market capitalization of $5.32 billion, a P/E ratio of 24.19, a P/E/G ratio of 0.89 and a beta of 1.46.

Itron (NASDAQ:ITRI) last released its earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share (EPS) for the quarter, topping 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 period in the prior year, the firm posted $0.98 EPS. Itron’s quarterly revenue was up 9.8% on a year-over-year basis. On average, research analysts anticipate that Itron, Inc. will post 5.33 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on ITRI shares. Guggenheim increased their price target on Itron from $128.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Oppenheimer increased their price objective on shares of Itron from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Janney Montgomery Scott started coverage on shares of Itron in a report on Friday, September 27th. They set a “buy” rating and a $131.00 target price for the company. TD Cowen increased their price target on shares of Itron from $125.00 to $136.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Piper Sandler boosted their price objective on Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, Itron presently has a consensus rating of “Moderate Buy” and an average price target of $123.92.

Itron 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.