Point72 Hong Kong Ltd Sells 7,093 Shares of Itron, Inc. (NASDAQ:ITRI)

Point72 Hong Kong Ltd lowered its holdings in shares of Itron, Inc. (NASDAQ:ITRI) by 73.2% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 2,602 shares of the scientific and technical instruments company’s stock after selling 7,093 shares during the period. Point72 Hong Kong Ltd’s holdings in Itron were worth $258,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its holdings in shares of Itron by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 5,701,337 shares of the scientific and technical instruments company’s stock valued at $527,488,000 after purchasing an additional 45,909 shares during the last quarter. Janus Henderson Group PLC grew its holdings in Itron by 2.2% in the 1st quarter. Janus Henderson Group PLC now owns 542,943 shares of the scientific and technical instruments company’s stock worth $50,233,000 after acquiring an additional 11,918 shares during the last quarter. Silvercrest Asset Management Group LLC bought a new stake in Itron in the 1st quarter worth $401,000. Norges Bank bought a new stake in Itron in the 4th quarter worth $24,504,000. Finally, Renaissance Technologies LLC grew its holdings in Itron by 72.5% in the 2nd quarter. Renaissance Technologies LLC now owns 309,761 shares of the scientific and technical instruments company’s stock worth $30,654,000 after acquiring an additional 130,200 shares during the last quarter. Institutional investors own 96.19% of the company’s stock.

Itron Trading Down 0.0 %

NASDAQ:ITRI opened at $103.05 on Friday. The company has a 50-day moving average price of $100.89 and a 200-day moving average price of $99.73. Itron, Inc. has a 12 month low of $56.11 and a 12 month 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 $4.73 billion, a price-to-earnings ratio of 29.61, a P/E/G ratio of 0.90 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, beating 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 analysts’ expectations of $599.25 million. During the same period last year, the company posted $0.65 EPS. Itron’s revenue was up 12.6% on a year-over-year basis. Equities analysts predict that Itron, Inc. will post 4.59 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ITRI shares. JPMorgan Chase & Co. raised their price target on shares of Itron from $104.00 to $112.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Stephens reissued an “equal weight” rating and issued a $110.00 price target on shares of Itron in a report on Monday, August 5th. Oppenheimer raised their price target on shares of Itron from $110.00 to $112.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. BNP Paribas started coverage on shares of Itron in a report on Thursday, September 5th. They issued an “outperform” rating and a $133.00 price target on the stock. Finally, TD Cowen raised their price target on shares of Itron from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $118.64.

Insider Activity at Itron

In related news, SVP Donald L. Reeves III sold 4,210 shares of Itron stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total transaction of $425,210.00. Following the completion of the transaction, the senior vice president now directly owns 16,269 shares of the company’s stock, valued at approximately $1,643,169. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, SVP Donald L. Reeves III sold 4,210 shares of Itron stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total transaction of $425,210.00. Following the completion of the transaction, the senior vice president now directly owns 16,269 shares of the company’s stock, valued at approximately $1,643,169. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Thomas Deitrich sold 887 shares of Itron stock in a transaction dated Monday, August 26th. The shares were 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 $20,968,943.40. The disclosure for this sale can be found here. Insiders sold a total of 5,776 shares of company stock valued at $584,721 in the last three months. Company insiders own 1.45% of the company’s stock.

Itron 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.