Interval Partners LP Buys New Position in Itron, Inc. (NASDAQ:ITRI)

Interval Partners LP bought a new stake in Itron, Inc. (NASDAQ:ITRI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 97,049 shares of the scientific and technical instruments company’s stock, valued at approximately $9,604,000.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in Itron during the fourth quarter worth $24,504,000. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Itron in the 4th quarter valued at about $81,000. UBS Group AG grew its holdings in shares of Itron by 126.3% in the 4th quarter. UBS Group AG now owns 84,301 shares of the scientific and technical instruments company’s stock valued at $6,366,000 after acquiring an additional 47,056 shares in the last quarter. Quest Partners LLC bought a new stake in Itron during the fourth quarter worth about $316,000. Finally, Hsbc Holdings PLC boosted its position in Itron by 133.5% during the fourth quarter. Hsbc Holdings PLC now owns 49,236 shares of the scientific and technical instruments company’s stock valued at $3,730,000 after purchasing an additional 28,150 shares during the last quarter. Institutional investors and hedge funds own 96.19% of the company’s stock.

Insiders Place Their Bets

In other Itron news, CFO Joan S. Hooper sold 509 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $102.15, for a total transaction of $51,994.35. Following the transaction, the chief financial officer now owns 72,338 shares in the company, valued at approximately $7,389,326.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CFO Joan S. Hooper sold 509 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $102.15, for a total value of $51,994.35. Following the completion of the sale, the chief financial officer now directly owns 72,338 shares in the company, valued at $7,389,326.70. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Thomas Deitrich sold 887 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $102.15, for a total value of $90,607.05. Following the transaction, the chief executive officer now owns 205,276 shares in the company, valued at approximately $20,968,943.40. The disclosure for this sale can be found here. Insiders sold 5,776 shares of company stock worth $584,721 in the last quarter. 1.45% of the stock is currently owned by corporate insiders.

Itron Stock Performance

NASDAQ:ITRI opened at $107.22 on Monday. The stock has a 50 day simple moving average of $100.85 and a 200 day simple moving average of $99.52. The stock has a market cap of $4.92 billion, a P/E ratio of 30.81, a PEG ratio of 0.84 and a beta of 1.47. Itron, Inc. has a 1-year low of $56.11 and a 1-year high of $113.07. The company has a current ratio of 3.16, a quick ratio of 2.61 and a debt-to-equity ratio of 0.98.

Itron (NASDAQ:ITRI) last posted its earnings results 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. The company had revenue of $609.07 million during the quarter, compared to the consensus estimate of $599.25 million. Itron had a return on equity of 16.42% and a net margin of 7.98%. The company’s revenue was up 12.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.65 earnings per share. Research analysts anticipate that Itron, Inc. will post 4.59 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ITRI. Robert W. Baird boosted their target price on shares of Itron from $115.00 to $123.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Oppenheimer raised their target price on shares of Itron from $110.00 to $112.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. Stephens reissued an “equal weight” rating and set a $110.00 price target on shares of Itron in a research report on Monday, August 5th. StockNews.com lowered Itron from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 28th. Finally, Roth Mkm reiterated a “buy” rating and set a $125.00 target price on shares of Itron in a research note on Wednesday, August 21st. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $118.64.

Itron Company 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.