AMI Asset Management Corp Decreases Position in Itron, Inc. (NASDAQ:ITRI)

AMI Asset Management Corp lowered its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 3.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,661 shares of the scientific and technical instruments company’s stock after selling 325 shares during the quarter. AMI Asset Management Corp’s holdings in Itron were worth $1,049,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC grew its stake in shares of Itron by 0.5% during the third quarter. Geode Capital Management LLC now owns 1,074,940 shares of the scientific and technical instruments company’s stock worth $114,835,000 after purchasing an additional 5,630 shares in the last quarter. Handelsbanken Fonder AB grew its position in shares of 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 acquiring an additional 346,615 shares during the last quarter. Select Equity Group L.P. increased its holdings in shares of Itron by 86.2% in the 2nd 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 period. Assenagon Asset Management S.A. boosted its stake in Itron by 90.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 511,734 shares of the scientific and technical instruments company’s stock worth $54,658,000 after purchasing an additional 243,355 shares during the period. Finally, Vontobel Holding Ltd. grew its position in Itron by 1.5% during the 3rd quarter. Vontobel Holding Ltd. now owns 429,945 shares of the scientific and technical instruments company’s stock worth $45,922,000 after purchasing an additional 6,310 shares during the last quarter. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Itron Stock Up 0.9 %

Shares of NASDAQ:ITRI opened at $105.36 on Tuesday. Itron, Inc. has a 1-year low of $69.23 and a 1-year high of $124.90. The company’s fifty day moving average is $112.13 and its two-hundred day moving average is $106.71. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36. 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 0.87 and a beta of 1.47.

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, topping analysts’ consensus estimates of $1.13 by $0.71. The firm had revenue of $615.46 million for the quarter, compared to analysts’ expectations of $596.41 million. Itron had a net margin of 9.37% and a return on equity of 19.03%. Itron’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the company posted $0.98 earnings per share. Equities analysts anticipate that Itron, Inc. will post 5.33 EPS for the current year.

Analyst Ratings Changes

ITRI has been the topic of a number of recent research reports. Piper Sandler boosted their target price on Itron from $110.00 to $119.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Guggenheim boosted their price target on Itron from $128.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Roth Mkm raised their target price on shares of Itron from $125.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 1st. TD Cowen boosted their price target on Itron from $125.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Finally, Janney Montgomery Scott assumed coverage on Itron in a report on Friday, September 27th. They issued a “buy” rating and a $131.00 price target for the company. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $123.92.

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.