Marshall Wace LLP Has $18.48 Million Position in Itron, Inc. (NASDAQ:ITRI)

Marshall Wace LLP trimmed its holdings in shares of Itron, Inc. (NASDAQ:ITRI) by 28.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 186,698 shares of the scientific and technical instruments company’s stock after selling 73,434 shares during the period. Marshall Wace LLP owned about 0.41% of Itron worth $18,476,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Los Angeles Capital Management LLC bought a new position in shares of Itron in the first quarter valued at $2,002,000. Commonwealth Equity Services LLC bought a new stake in shares of Itron in the 1st quarter valued at about $1,076,000. Jupiter Asset Management Ltd. acquired a new stake in Itron in the 1st quarter valued at about $2,029,000. Oppenheimer & Co. Inc. grew its holdings in Itron by 91.1% during the fourth quarter. Oppenheimer & Co. Inc. now owns 30,568 shares of the scientific and technical instruments company’s stock worth $2,308,000 after purchasing an additional 14,573 shares during the period. Finally, UniSuper Management Pty Ltd acquired a new position in Itron during the first quarter worth approximately $904,000. Institutional investors own 96.19% of the company’s stock.

Itron Price Performance

Shares of NASDAQ:ITRI opened at $107.28 on Friday. 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 52 week low of $56.11 and a 52 week high of $113.07. The firm has a market cap of $4.92 billion, a PE ratio of 30.83, a price-to-earnings-growth ratio of 0.90 and a beta of 1.47. The firm’s fifty day moving average is $101.00 and its 200-day moving average is $99.83.

Itron (NASDAQ:ITRI) last announced its earnings results on Thursday, August 1st. The scientific and technical instruments company reported $1.21 EPS for the quarter, topping the consensus estimate of $0.96 by $0.25. The firm had revenue of $609.07 million for 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 business’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.65 EPS. Sell-side analysts predict that Itron, Inc. will post 4.59 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Joan S. Hooper sold 509 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $102.15, for a total value of $51,994.35. Following the sale, the chief financial officer now directly owns 72,338 shares of the company’s stock, valued at approximately $7,389,326.70. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CFO Joan S. Hooper sold 509 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $102.15, for a total value of $51,994.35. Following the transaction, the chief financial officer now owns 72,338 shares in the company, valued at $7,389,326.70. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, 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 transaction, the senior vice president now directly owns 16,269 shares of the company’s stock, valued at $1,643,169. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,776 shares of company stock worth $584,721. 1.45% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ITRI. Piper Sandler lifted their target price on Itron from $109.00 to $110.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Janney Montgomery Scott assumed coverage on shares of Itron in a report on Friday. They issued a “buy” rating and a $131.00 price objective on the stock. Canaccord Genuity Group increased their price target on shares of Itron from $115.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Roth Mkm restated a “buy” rating and issued a $125.00 price target on shares of Itron in a research note on Wednesday, August 21st. Finally, Stephens restated an “equal weight” rating and set a $110.00 price objective on shares of Itron in a research note on Monday, August 5th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat, Itron presently has an average rating of “Moderate Buy” and a consensus target price of $119.67.

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.