Skandinaviska Enskilda Banken AB publ Raises Stake in Itron, Inc. (NASDAQ:ITRI)

Skandinaviska Enskilda Banken AB publ increased its stake in Itron, Inc. (NASDAQ:ITRI) by 97.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 10,207 shares of the scientific and technical instruments company’s stock after acquiring an additional 5,047 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Itron were worth $1,012,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Hexagon Capital Partners LLC boosted its position in shares of 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 last quarter. Contravisory Investment Management Inc. boosted its position in shares of Itron by 61.5% in the first quarter. Contravisory Investment Management Inc. now owns 344 shares of the scientific and technical instruments company’s stock worth $32,000 after acquiring an additional 131 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Itron by 32.7% in the first quarter. GAMMA Investing LLC now owns 491 shares of the scientific and technical instruments company’s stock worth $45,000 after acquiring an additional 121 shares during the last quarter. CWM LLC boosted its position in shares of Itron by 315.6% in the second quarter. CWM LLC now owns 881 shares of the scientific and technical instruments company’s stock worth $87,000 after acquiring an additional 669 shares during the last quarter. Finally, C M Bidwell & Associates Ltd. acquired a new stake in shares of Itron in the fourth quarter worth approximately $76,000. 96.19% of the stock is owned by institutional investors and hedge funds.

Itron Trading Up 0.0 %

NASDAQ ITRI opened at $107.23 on Tuesday. The company’s fifty day simple moving average is $100.89 and its 200-day simple moving average is $99.60. Itron, Inc. has a 52 week low of $56.11 and a 52 week 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. 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 (NASDAQ:ITRI) last issued its quarterly earnings results on Thursday, August 1st. The scientific and technical instruments company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.25. The business had revenue of $609.07 million during the quarter, compared to analyst estimates of $599.25 million. Itron had a net margin of 7.98% and a return on equity of 16.42%. The business’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.65 earnings per share. Equities research analysts predict that Itron, Inc. will post 4.59 EPS for the current fiscal year.

Insider Buying and Selling

In related news, SVP Donald L. Reeves III sold 4,210 shares of Itron stock in a transaction on Thursday, August 22nd. The shares were 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 owns 16,269 shares in the company, valued at $1,643,169. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, SVP Donald L. Reeves III sold 4,210 shares of Itron stock in a transaction on Thursday, August 22nd. The shares were 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 owns 16,269 shares in the company, valued at $1,643,169. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Thomas Deitrich sold 887 shares of Itron 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 completion of the sale, the chief executive officer now owns 205,276 shares of the company’s stock, valued at approximately $20,968,943.40. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,776 shares of company stock worth $584,721. Insiders own 1.45% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ITRI shares. Piper Sandler raised their target price on shares of Itron from $109.00 to $110.00 and gave the stock a “neutral” rating in a research report on Monday, July 22nd. BNP Paribas initiated coverage on shares of Itron in a research report on Thursday, September 5th. They set an “outperform” rating and a $133.00 price target on the stock. Guggenheim raised shares of Itron from a “neutral” rating to a “buy” rating and set a $130.00 price target on the stock in a research report on Thursday, July 11th. Oppenheimer lifted their price target on shares of Itron from $110.00 to $112.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Itron from $104.00 to $112.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $118.64.

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.