Cerity Partners LLC Invests $454,000 in Itron, Inc. (NASDAQ:ITRI)

Cerity Partners LLC purchased a new position in shares of Itron, Inc. (NASDAQ:ITRI) in the third quarter, Holdings Channel reports. The fund purchased 4,253 shares of the scientific and technical instruments company’s stock, valued at approximately $454,000.

Several other institutional investors and hedge funds have also bought and sold shares of ITRI. Quarry LP grew its holdings in Itron by 53.0% during the second quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company’s stock worth $35,000 after acquiring an additional 122 shares during the period. Covestor Ltd lifted its stake in shares of Itron by 26.1% in the 3rd quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock valued at $57,000 after purchasing an additional 111 shares during the period. Farther Finance Advisors LLC boosted its holdings in Itron by 21.7% during the third quarter. Farther Finance Advisors LLC now owns 724 shares of the scientific and technical instruments company’s stock worth $77,000 after buying an additional 129 shares in the last quarter. CWM LLC increased its holdings in Itron by 315.6% in the second quarter. CWM LLC now owns 881 shares of the scientific and technical instruments company’s stock valued at $87,000 after buying an additional 669 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in shares of Itron by 41.4% in the third quarter. GAMMA Investing LLC now owns 1,018 shares of the scientific and technical instruments company’s stock worth $109,000 after acquiring an additional 298 shares during the period. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Itron Price Performance

ITRI stock opened at $115.92 on Monday. Itron, Inc. has a 1 year low of $67.21 and a 1 year high of $124.90. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83. The firm has a market capitalization of $5.23 billion, a PE ratio of 23.75, a price-to-earnings-growth ratio of 0.89 and a beta of 1.46. The business has a 50 day simple moving average of $112.09 and a 200-day simple moving average of $105.67.

Itron (NASDAQ:ITRI) last issued its earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.71. Itron had a return on equity of 19.03% and a net margin of 9.37%. The company had revenue of $615.46 million during the quarter, compared to analysts’ expectations of $596.41 million. During the same period in the prior year, the business earned $0.98 EPS. The firm’s quarterly revenue was up 9.8% on a year-over-year basis. Equities research analysts anticipate that Itron, Inc. will post 5.33 earnings per share for the current fiscal year.

Insider Activity at Itron

In other Itron news, CEO Thomas Deitrich sold 37,500 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 205,276 shares of the company’s stock, valued at $21,519,083.08. This represents a 15.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.45% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ITRI has been the topic of a number of recent analyst reports. BNP Paribas initiated coverage on Itron in a research report on Thursday, September 5th. They set an “outperform” rating and a $133.00 price target on the stock. Robert W. Baird increased their price objective on shares of Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Roth Mkm boosted their target price on shares of Itron from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Guggenheim upped their price target on shares of Itron from $128.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Piper Sandler boosted their price objective on Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $123.92.

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.