Itron, Inc. (NASDAQ:ITRI) Shares Bought by Decade Renewable Partners LP

Decade Renewable Partners LP raised its stake in Itron, Inc. (NASDAQ:ITRI - Free Report) by 16.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 61,703 shares of the scientific and technical instruments company's stock after acquiring an additional 8,577 shares during the period. Itron comprises about 3.3% of Decade Renewable Partners LP's investment portfolio, making the stock its 12th largest position. Decade Renewable Partners LP owned 0.14% of Itron worth $6,700,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in ITRI. Norges Bank acquired a new position in Itron in the fourth quarter valued at about $64,615,000. Bowen Hanes & Co. Inc. bought a new position in shares of Itron during the fourth quarter valued at about $27,486,000. Franklin Resources Inc. increased its position in shares of Itron by 611.9% during the third quarter. Franklin Resources Inc. now owns 282,828 shares of the scientific and technical instruments company's stock valued at $31,128,000 after acquiring an additional 243,102 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Itron by 180.7% during the 4th quarter. Wellington Management Group LLP now owns 333,363 shares of the scientific and technical instruments company's stock worth $36,197,000 after purchasing an additional 214,600 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Itron by 85.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 425,484 shares of the scientific and technical instruments company's stock worth $46,199,000 after acquiring an additional 196,396 shares during the period. 96.19% of the stock is owned by institutional investors.

Itron Stock Down 2.9 %

ITRI stock traded down $3.24 during mid-day trading on Thursday, reaching $108.05. The company had a trading volume of 796,988 shares, compared to its average volume of 573,697. The company has a market capitalization of $4.92 billion, a price-to-earnings ratio of 22.14, a price-to-earnings-growth ratio of 0.81 and a beta of 1.39. The firm has a fifty day simple moving average of $104.24 and a 200 day simple moving average of $107.48. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36. Itron, Inc. has a fifty-two week low of $90.11 and a fifty-two week high of $124.90.

Itron (NASDAQ:ITRI - Get Free Report) last posted its earnings results on Thursday, May 1st. The scientific and technical instruments company reported $1.52 EPS for the quarter, topping analysts' consensus estimates of $1.30 by $0.22. Itron had a return on equity of 19.03% and a net margin of 9.37%. The business had revenue of $607.15 million for the quarter, compared to analysts' expectations of $608.86 million. During the same quarter in the previous year, the firm earned $1.24 earnings per share. The business's revenue was up .6% compared to the same quarter last year. Analysts forecast that Itron, Inc. will post 5.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Joan S. Hooper sold 2,322 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $92.90, for a total transaction of $215,713.80. Following the sale, the chief financial officer now owns 92,076 shares of the company's stock, valued at $8,553,860.40. The trade was a 2.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Christopher E. Ware sold 648 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.90, for a total transaction of $60,199.20. Following the completion of the sale, the senior vice president now directly owns 20,326 shares in the company, valued at approximately $1,888,285.40. The trade was a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,037 shares of company stock valued at $385,815. 1.45% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on ITRI. Oppenheimer lifted their target price on shares of Itron from $124.00 to $131.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Canaccord Genuity Group raised their target price on shares of Itron from $130.00 to $132.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Piper Sandler increased their price objective on Itron from $119.00 to $124.00 and gave the company a "neutral" rating in a research report on Thursday, February 27th. Guggenheim restated a "buy" rating and set a $133.00 price target on shares of Itron in a research note on Thursday, April 17th. Finally, StockNews.com downgraded shares of Itron from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 1st. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $127.64.

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.