Acadian Asset Management LLC Purchases New Position in Itron, Inc. (NASDAQ:ITRI)

Acadian Asset Management LLC acquired a new position in Itron, Inc. (NASDAQ:ITRI) in the 2nd quarter, HoldingsChannel reports. The firm acquired 20,738 shares of the scientific and technical instruments company’s stock, valued at approximately $2,050,000.

Other large investors have also recently made changes to their positions in the company. Hexagon Capital Partners LLC lifted its stake in Itron by 85.6% in the second quarter. Hexagon Capital Partners LLC now owns 271 shares of the scientific and technical instruments company’s stock worth $27,000 after acquiring an additional 125 shares during the period. Contravisory Investment Management Inc. boosted its stake in shares of Itron by 61.5% during the 1st quarter. Contravisory Investment Management Inc. now owns 344 shares of the scientific and technical instruments company’s stock valued at $32,000 after purchasing an additional 131 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Itron by 32.7% during the 1st quarter. GAMMA Investing LLC now owns 491 shares of the scientific and technical instruments company’s stock valued at $45,000 after purchasing an additional 121 shares in the last quarter. CWM LLC increased its position in shares of Itron by 315.6% during the second quarter. CWM LLC now owns 881 shares of the scientific and technical instruments company’s stock valued at $87,000 after buying an additional 669 shares during the period. Finally, C M Bidwell & Associates Ltd. bought a new position in Itron in the fourth quarter worth about $76,000. 96.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. TD Cowen upped their target price on Itron from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Piper Sandler upped their price target on Itron from $109.00 to $110.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Oppenheimer raised their price objective on Itron from $110.00 to $112.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. StockNews.com downgraded shares of Itron from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 28th. Finally, BNP Paribas assumed coverage on shares of Itron in a research report on Thursday, September 5th. They set an “outperform” rating and a $133.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $118.64.

Itron Stock Up 3.0 %

Shares of Itron stock opened at $102.54 on Friday. The company has a 50-day simple moving average of $100.46 and a two-hundred day simple moving average of $99.02. The stock has a market capitalization of $4.61 billion, a PE ratio of 29.47, a price-to-earnings-growth ratio of 0.84 and a beta of 1.47. Itron, Inc. has a 52-week low of $56.11 and a 52-week high of $113.07. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.61 and a current ratio of 3.16.

Itron (NASDAQ:ITRI) last announced its quarterly earnings data on Thursday, August 1st. The scientific and technical instruments company reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.96 by $0.25. Itron had a net margin of 7.98% and a return on equity of 16.42%. The company had revenue of $609.07 million during the quarter, compared to analyst estimates of $599.25 million. During the same period in the previous year, the business earned $0.65 EPS. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, analysts anticipate that Itron, Inc. will post 4.59 EPS for the current fiscal year.

Insider Activity

In related news, SVP Donald L. Reeves III sold 4,210 shares of Itron stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total value of $425,210.00. Following the completion of the sale, the senior vice president now directly owns 16,269 shares in the company, valued at approximately $1,643,169. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Thomas Deitrich sold 887 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $102.15, for a total transaction of $90,607.05. Following the transaction, the chief executive officer now directly owns 205,276 shares of the company’s stock, valued at approximately $20,968,943.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Donald L. Reeves III sold 4,210 shares of Itron stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total value of $425,210.00. Following the completion of the sale, the senior vice president now directly owns 16,269 shares of the company’s stock, valued at approximately $1,643,169. The disclosure for this sale can be found here. Insiders have sold a total of 5,776 shares of company stock valued at $584,721 over the last ninety days. 1.45% of the stock is currently owned by corporate insiders.

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.