Sanctuary Advisors LLC Purchases New Position in Itron, Inc. (NASDAQ:ITRI)

Sanctuary Advisors LLC purchased a new stake in Itron, Inc. (NASDAQ:ITRI) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,499 shares of the scientific and technical instruments company’s stock, valued at approximately $239,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. GAMMA Investing LLC boosted its holdings in Itron by 32.7% in the first quarter. GAMMA Investing LLC now owns 491 shares of the scientific and technical instruments company’s stock valued at $45,000 after purchasing an additional 121 shares in the last quarter. Quarry LP lifted its stake in 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 buying an additional 122 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in Itron by 85.6% in the second quarter. Hexagon Capital Partners LLC now owns 271 shares of the scientific and technical instruments company’s stock valued at $27,000 after buying an additional 125 shares during the last quarter. Contravisory Investment Management Inc. lifted its stake in 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 valued at $32,000 after buying an additional 131 shares during the last quarter. Finally, Xponance Inc. lifted its stake in Itron by 5.1% in the second quarter. Xponance Inc. now owns 2,910 shares of the scientific and technical instruments company’s stock valued at $288,000 after buying an additional 142 shares during the last quarter. 96.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ITRI has been the subject of a number of research reports. Janney Montgomery Scott initiated coverage on Itron in a research note on Friday, September 27th. They issued a “buy” rating and a $131.00 price objective for the company. Roth Mkm reiterated a “buy” rating and issued a $125.00 price objective on shares of Itron in a research note on Wednesday, August 21st. Guggenheim upgraded Itron from a “neutral” rating to a “buy” rating and set a $130.00 price target for the company in a research note on Thursday, July 11th. Piper Sandler upped their price target on Itron from $109.00 to $110.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Finally, BNP Paribas assumed coverage on Itron in a research note on Thursday, September 5th. They set an “outperform” rating and a $133.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Itron has a consensus rating of “Moderate Buy” and a consensus target price of $119.67.

Itron Stock Down 0.8 %

Itron stock opened at $104.19 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 has a market capitalization of $4.78 billion, a price-to-earnings ratio of 29.94, a price-to-earnings-growth ratio of 0.91 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. The stock’s fifty day moving average is $102.50 and its two-hundred day moving average is $101.68.

Itron (NASDAQ:ITRI) last posted its quarterly earnings data on Thursday, August 1st. The scientific and technical instruments company reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.25. The business had revenue of $609.07 million for the quarter, compared to analyst estimates of $599.25 million. Itron had a return on equity of 16.42% and a net margin of 7.98%. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.65 earnings per share. Analysts predict that Itron, Inc. will post 4.58 EPS for the current fiscal year.

Insider Activity at Itron

In related news, CEO Thomas Deitrich sold 37,500 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total transaction of $3,931,125.00. Following the transaction, the chief executive officer now directly owns 205,276 shares in the company, valued at approximately $21,519,083.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Thomas Deitrich sold 37,500 shares of Itron stock in a transaction dated Tuesday, October 1st. The stock was 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 directly 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 document filed with the SEC, which is available at this link. Also, 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 completion of the transaction, the chief financial officer now directly owns 72,338 shares in the company, valued at $7,389,326.70. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 43,276 shares of company stock valued at $4,515,846 over the last quarter. Insiders own 1.45% of the company’s stock.

Itron 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.