Itron, Inc. (NASDAQ:ITRI) Shares Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd boosted its position in shares of Itron, Inc. (NASDAQ:ITRI) by 8.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,912 shares of the scientific and technical instruments company’s stock after acquiring an additional 624 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Itron were worth $845,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB lifted its holdings in Itron by 62.7% in the third quarter. Handelsbanken Fonder AB now owns 899,789 shares of the scientific and technical instruments company’s stock valued at $96,106,000 after acquiring an additional 346,615 shares during the period. Select Equity Group L.P. lifted 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 acquiring an additional 279,629 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Itron by 90.7% in the 3rd 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 last quarter. Vontobel Holding Ltd. raised its holdings in Itron by 1.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 429,945 shares of the scientific and technical instruments company’s stock valued at $45,922,000 after acquiring an additional 6,310 shares in the last quarter. Finally, Pinnacle Associates Ltd. lifted its position in Itron by 9.3% in the third quarter. Pinnacle Associates Ltd. now owns 398,372 shares of the scientific and technical instruments company’s stock worth $42,550,000 after purchasing an additional 34,014 shares during the period. Institutional investors and hedge funds own 96.19% of the company’s stock.

Insider Buying and Selling at Itron

In other news, CEO Thomas Deitrich sold 37,500 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $104.83, for a total value of $3,931,125.00. Following the sale, the chief executive officer now directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.45% of the stock is owned by corporate insiders.

Itron Stock Performance

Shares of ITRI opened at $111.94 on Friday. The business has a fifty day moving average of $112.89 and a 200 day moving average of $105.87. Itron, Inc. has a one year low of $67.21 and a one 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 firm has a market capitalization of $5.05 billion, a P/E ratio of 22.94, a PEG ratio of 0.86 and a beta of 1.46.

Itron (NASDAQ:ITRI) last issued its 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 the consensus estimate of $596.41 million. During the same quarter last year, the company earned $0.98 EPS. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Itron, Inc. will post 5.33 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Piper Sandler boosted their target price on Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Oppenheimer upped their price objective on Itron from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Roth Mkm boosted their price target on Itron from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Guggenheim increased their price target on shares of Itron from $128.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, BNP Paribas began coverage on Itron in a research note on Thursday, September 5th. They issued an “outperform” rating and a $133.00 price target for the company. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price 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.