Lombard Odier Asset Management Europe Ltd Takes Position in Itron, Inc. (NASDAQ:ITRI)

Lombard Odier Asset Management Europe Ltd acquired a new position in shares of Itron, Inc. (NASDAQ:ITRI) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 2,454 shares of the scientific and technical instruments company’s stock, valued at approximately $243,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ITRI. Norges Bank purchased a new stake in shares of Itron during the 4th quarter worth approximately $24,504,000. UBS Group AG grew its holdings in Itron by 126.3% in the fourth quarter. UBS Group AG now owns 84,301 shares of the scientific and technical instruments company’s stock valued at $6,366,000 after purchasing an additional 47,056 shares during the last quarter. Hsbc Holdings PLC increased its position in shares of Itron by 133.5% in the fourth quarter. Hsbc Holdings PLC now owns 49,236 shares of the scientific and technical instruments company’s stock valued at $3,730,000 after buying an additional 28,150 shares in the last quarter. S&CO Inc. acquired a new position in shares of Itron during the 4th quarter worth $249,000. Finally, Allianz Asset Management GmbH boosted its position in shares of Itron by 12.1% in the 4th quarter. Allianz Asset Management GmbH now owns 182,755 shares of the scientific and technical instruments company’s stock worth $13,800,000 after buying an additional 19,713 shares in the last quarter. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ITRI has been the subject of several recent research reports. Roth Mkm restated a “buy” rating and set a $125.00 target price on shares of Itron in a report on Wednesday, August 21st. Oppenheimer upped their target price on Itron from $110.00 to $112.00 and gave the company an “outperform” rating in a research note on Wednesday, July 17th. BNP Paribas began coverage on Itron in a research report on Thursday, September 5th. They issued an “outperform” rating and a $133.00 price objective on the stock. Canaccord Genuity Group increased their price objective on Itron from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Itron from $104.00 to $112.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Itron currently has an average rating of “Moderate Buy” and a consensus target price of $118.64.

Insiders Place Their Bets

In other news, SVP Donald L. Reeves III sold 4,210 shares of the business’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total transaction of $425,210.00. Following the completion of the sale, the senior vice president now owns 16,269 shares in the company, valued at approximately $1,643,169. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Thomas Deitrich sold 887 shares of the company’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 $90,607.05. Following the completion of the sale, the chief executive officer now owns 205,276 shares of the company’s stock, valued at $20,968,943.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Donald L. Reeves III sold 4,210 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total value of $425,210.00. Following the completion of the sale, the senior vice president now owns 16,269 shares of the company’s stock, valued at approximately $1,643,169. The disclosure for this sale can be found here. Insiders sold 5,776 shares of company stock worth $584,721 over the last three months. 1.45% of the stock is owned by insiders.

Itron Price Performance

Itron stock opened at $107.23 on Tuesday. Itron, Inc. has a 1 year low of $56.11 and a 1 year high of $113.07. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.61 and a current ratio of 3.16. The firm has a 50 day moving average price of $100.89 and a 200 day moving average price of $99.60. The company has a market cap of $4.92 billion, a price-to-earnings ratio of 30.81, a PEG ratio of 0.84 and a beta of 1.47.

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

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.