Handelsbanken Fonder AB Grows Stock Position in Itron, Inc. (NASDAQ:ITRI)

Handelsbanken Fonder AB raised its holdings in shares of Itron, Inc. (NASDAQ:ITRI) by 62.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 899,789 shares of the scientific and technical instruments company’s stock after acquiring an additional 346,615 shares during the quarter. Handelsbanken Fonder AB owned approximately 1.96% of Itron worth $96,106,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Hexagon Capital Partners LLC increased its stake in shares of Itron by 85.6% during the 2nd quarter. Hexagon Capital Partners LLC now owns 271 shares of the scientific and technical instruments company’s stock worth $27,000 after purchasing an additional 125 shares in the last quarter. Contravisory Investment Management Inc. raised its holdings 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. Quarry LP lifted its position in shares of Itron by 53.0% in the second quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company’s stock valued at $35,000 after acquiring an additional 122 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Itron by 32.7% during the first quarter. GAMMA Investing LLC now owns 491 shares of the scientific and technical instruments company’s stock valued at $45,000 after acquiring an additional 121 shares during the last quarter. Finally, CWM LLC increased its position in Itron by 315.6% during the 2nd quarter. CWM LLC now owns 881 shares of the scientific and technical instruments company’s stock worth $87,000 after purchasing an additional 669 shares in the last quarter. Institutional investors and hedge funds own 96.19% of the company’s stock.

Insider Activity

In related news, CEO Thomas Deitrich sold 37,500 shares of Itron stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $104.83, for a total transaction of $3,931,125.00. Following the sale, the chief executive officer now owns 205,276 shares of the company’s stock, valued at $21,519,083.08. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing 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 dated Monday, August 26th. The stock was 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 approximately $7,389,326.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Thomas Deitrich sold 37,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $104.83, for a total value of $3,931,125.00. Following the sale, the chief executive officer now owns 205,276 shares of the company’s stock, valued at approximately $21,519,083.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 43,276 shares of company stock worth $4,515,846 over the last 90 days. Company insiders own 1.45% of the company’s stock.

Itron Trading Up 1.3 %

ITRI stock traded up $1.34 during midday trading on Friday, reaching $104.93. 187,110 shares of the company’s stock traded hands, compared to its average volume of 519,701. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.16 and a quick ratio of 2.61. Itron, Inc. has a fifty-two week low of $56.11 and a fifty-two week high of $113.07. The business has a 50-day moving average price of $101.16 and a two-hundred day moving average price of $100.41. The company has a market capitalization of $4.81 billion, a P/E ratio of 30.15, a PEG ratio of 0.90 and a beta of 1.47.

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, beating the consensus estimate of $0.96 by $0.25. Itron had a net margin of 7.98% and a return on equity of 16.42%. The business had revenue of $609.07 million for the quarter, compared to analyst estimates of $599.25 million. During the same quarter in the previous year, the business posted $0.65 EPS. The business’s quarterly revenue was up 12.6% on a year-over-year basis. Equities research analysts forecast that Itron, Inc. will post 4.59 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on ITRI shares. Stephens restated an “equal weight” rating and issued a $110.00 target price on shares of Itron in a report on Monday, August 5th. Robert W. Baird raised their target price on shares of Itron from $115.00 to $123.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. Canaccord Genuity Group boosted their price target on Itron from $115.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, June 20th. JPMorgan Chase & Co. raised their price objective on Itron from $104.00 to $112.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Finally, Guggenheim upgraded Itron from a “neutral” rating to a “buy” rating and set a $130.00 target price for the company in a research note on Thursday, July 11th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $119.67.

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.