Intech Investment Management LLC Buys 10,001 Shares of Itron, Inc. (NASDAQ:ITRI)

Intech Investment Management LLC raised its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 105.9% during the third quarter, Holdings Channel reports. The firm owned 19,444 shares of the scientific and technical instruments company’s stock after buying an additional 10,001 shares during the quarter. Intech Investment Management LLC’s holdings in Itron were worth $2,077,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in ITRI. Hexagon Capital Partners LLC increased its position in shares of Itron by 85.6% during 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 period. Quarry LP lifted its stake in shares of Itron by 53.0% in the 2nd quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company’s stock valued at $35,000 after purchasing an additional 122 shares during the period. Covestor Ltd boosted its position in shares of Itron by 26.1% during the third 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 in the last quarter. GAMMA Investing LLC grew its stake in Itron by 46.6% in the second quarter. GAMMA Investing LLC now owns 720 shares of the scientific and technical instruments company’s stock worth $71,000 after purchasing an additional 229 shares during the period. Finally, Farther Finance Advisors LLC increased its stake in shares of Itron by 21.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 724 shares of the scientific and technical instruments company’s stock worth $77,000 after acquiring an additional 129 shares in the last quarter. 96.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling 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 completion of the sale, the chief executive officer now owns 205,276 shares in the company, valued at approximately $21,519,083.08. This trade represents a 15.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 1.45% of the company’s stock.

Itron Stock Performance

Shares of NASDAQ ITRI opened at $118.93 on Monday. The firm has a 50 day moving average of $109.53 and a 200 day moving average of $104.97. The firm has a market capitalization of $5.36 billion, a price-to-earnings ratio of 24.37, a price-to-earnings-growth ratio of 0.87 and a beta of 1.46. Itron, Inc. has a 12-month low of $65.42 and a 12-month high of $124.90. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91.

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

Analyst Ratings Changes

Several equities analysts have recently issued reports on the stock. Robert W. Baird lifted their target price on shares of Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Piper Sandler lifted their price target on Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. BNP Paribas initiated coverage on shares of Itron in a research note on Thursday, September 5th. They issued an “outperform” rating and a $133.00 target price on the stock. Janney Montgomery Scott began coverage on shares of Itron in a research report on Friday, September 27th. They set a “buy” rating and a $131.00 price target for the company. Finally, Guggenheim boosted their price target on Itron from $128.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, Itron has a consensus rating of “Moderate Buy” and an average price target of $123.92.

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.