Sculptor Capital LP Takes $5.26 Million Position in Itron, Inc. (NASDAQ:ITRI)

Sculptor Capital LP bought a new stake in Itron, Inc. (NASDAQ:ITRI) during the 2nd quarter, Holdings Channel reports. The fund bought 53,100 shares of the scientific and technical instruments company’s stock, valued at approximately $5,255,000.

Several other hedge funds also recently modified their holdings of ITRI. Vanguard Group Inc. raised its position in shares of Itron by 0.8% in 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 acquiring an additional 45,909 shares during the period. Select Equity Group L.P. raised its position in shares of Itron by 86.2% in the 2nd quarter. Select Equity Group L.P. now owns 603,877 shares of the scientific and technical instruments company’s stock valued at $59,760,000 after acquiring an additional 279,629 shares during the period. Janus Henderson Group PLC raised its position in shares of 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 valued at $50,233,000 after acquiring an additional 11,918 shares during the period. Silvercrest Asset Management Group LLC acquired a new stake in shares of Itron in the 1st quarter valued at approximately $401,000. Finally, Norges Bank acquired a new stake in shares of Itron in the 4th quarter valued at approximately $24,504,000. Institutional investors own 96.19% of the company’s stock.

Insider Activity

In other Itron news, CFO Joan S. Hooper sold 509 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 value of $51,994.35. Following the sale, the chief financial officer now owns 72,338 shares of the company’s stock, valued at $7,389,326.70. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 sale, the chief financial officer now directly owns 72,338 shares in the company, valued at approximately $7,389,326.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Donald L. Reeves III sold 4,210 shares of the business’s 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 in the company, valued at $1,643,169. The disclosure for this sale can be found here. Insiders have sold 5,776 shares of company stock worth $584,721 over the last 90 days. 1.45% of the stock is currently owned by corporate insiders.

Itron Price Performance

Shares of NASDAQ ITRI opened at $103.05 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. The firm’s 50-day simple moving average is $100.89 and its 200 day simple moving average is $99.73. The stock has a market cap of $4.73 billion, a price-to-earnings ratio of 29.61, a PEG ratio of 0.90 and a beta of 1.47. Itron, Inc. has a fifty-two week low of $56.11 and a fifty-two week high of $113.07.

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 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 company had revenue of $609.07 million for the quarter, compared to analyst estimates of $599.25 million. During the same quarter last year, the company earned $0.65 earnings per share. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, research analysts anticipate that Itron, Inc. will post 4.59 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the stock. 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 report on Friday, August 2nd. TD Cowen raised their target price on shares of Itron from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Piper Sandler raised their target price on shares of Itron from $109.00 to $110.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Itron from $104.00 to $112.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. Finally, Guggenheim upgraded shares of Itron from a “neutral” rating to a “buy” rating and set a $130.00 price objective on the stock in a report on Thursday, July 11th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target 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.