Decade Renewable Partners LP Makes New $13.66 Million Investment in Itron, Inc. (NASDAQ:ITRI)

Decade Renewable Partners LP purchased a new position in shares of Itron, Inc. (NASDAQ:ITRI) during the second quarter, HoldingsChannel reports. The institutional investor purchased 137,992 shares of the scientific and technical instruments company’s stock, valued at approximately $13,656,000. Itron accounts for 6.7% of Decade Renewable Partners LP’s investment portfolio, making the stock its 2nd biggest position.

Several other hedge funds have also made changes to their positions in ITRI. Silvercrest Asset Management Group LLC purchased a new stake in Itron in the first quarter valued at approximately $401,000. Norges Bank purchased a new stake in shares of Itron during the 4th quarter valued at $24,504,000. Hood River Capital Management LLC acquired a new stake in shares of Itron during the 2nd quarter worth $22,612,000. Victory Capital Management Inc. raised its position in shares of Itron by 1,331.3% in the 2nd quarter. Victory Capital Management Inc. now owns 200,400 shares of the scientific and technical instruments company’s stock worth $19,832,000 after buying an additional 186,399 shares during the period. Finally, Renaissance Technologies LLC boosted its holdings in Itron by 72.5% in the second quarter. Renaissance Technologies LLC now owns 309,761 shares of the scientific and technical instruments company’s stock valued at $30,654,000 after acquiring an additional 130,200 shares during the last quarter. Institutional investors and hedge funds own 96.19% of the company’s stock.

Itron Stock Down 3.6 %

Shares of NASDAQ ITRI opened at $103.07 on Thursday. 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, Inc. has a 1 year low of $56.11 and a 1 year high of $113.07. The stock’s 50-day simple moving average is $100.88 and its 200-day simple moving average is $99.70. The firm has a market cap of $4.63 billion, a price-to-earnings ratio of 29.62, a PEG ratio of 0.90 and a beta of 1.47.

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

Insider Buying and Selling

In other Itron news, SVP Donald L. Reeves III sold 4,210 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total transaction of $425,210.00. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Thomas Deitrich sold 887 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 $90,607.05. Following the completion of the sale, the chief executive officer now directly owns 205,276 shares in the company, valued at approximately $20,968,943.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Donald L. Reeves III sold 4,210 shares of the company’s stock in a transaction that occurred 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 sale, the senior vice president now directly owns 16,269 shares in the company, valued at $1,643,169. 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.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. TD Cowen upped their price target on Itron from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Oppenheimer raised their price target on shares of Itron from $110.00 to $112.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Robert W. Baird boosted their price objective on shares of Itron from $115.00 to $123.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Canaccord Genuity Group increased their price objective on shares of Itron from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Finally, JPMorgan Chase & Co. upped their price target on shares of Itron from $104.00 to $112.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, Itron presently has a consensus rating of “Moderate Buy” and an average 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.