17,149 Shares of Itron, Inc. $ITRI Purchased by CenterBook Partners LP

Key Points

• CenterBook Partners initiated a position in Itron, purchasing 17,149 shares worth approximately $1.48 million in the third quarter. Institutional investors collectively own 96.19% of the company’s stock.
• Analysts rate Itron a “Moderate Buy” on average, with a consensus price target of $129.20; nine analysts rate it Buy, three Hold, and one Sell.
• Itron reported quarterly EPS of $1.94, beating the $1.56 consensus estimate, while revenue rose 3% year over year to $599.33 million.

CenterBook Partners LP purchased a new position in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 17,149 shares of the scientific and technical instruments company's stock, valued at approximately $1,481,000.

Other institutional investors also recently added to or reduced their stakes in the company. Kestra Advisory Services LLC purchased a new stake in shares of Itron in the third quarter valued at about $255,000. Covestor Ltd lifted its holdings in shares of Itron by 70.0% during the 3rd quarter. Covestor Ltd now owns 668 shares of the scientific and technical instruments company's stock worth $58,000 after acquiring an additional 275 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in shares of Itron by 2.2% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 13,997 shares of the scientific and technical instruments company's stock valued at $1,209,000 after purchasing an additional 300 shares during the last quarter. Pinnacle Associates Ltd. boosted its holdings in Itron by 5.2% in the third quarter. Pinnacle Associates Ltd. now owns 289,185 shares of the scientific and technical instruments company's stock valued at $24,968,000 after acquiring an additional 14,344 shares during the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new stake in shares of Itron during the 3rd quarter worth about $702,000. Hedge funds and other institutional investors own 96.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ITRI shares. Oppenheimer reaffirmed an "outperform" rating on shares of Itron in a research report on Wednesday, October 28th. Needham & Company LLC upped their target price on Itron from $128.00 to $137.00 and gave the company a "buy" rating in a report on Tuesday, October 27th. BNP Paribas Exane cut their price objective on shares of Itron from $115.00 to $105.00 and set an "outperform" rating on the stock in a research report on Wednesday, October 28th. Seaport Research Partners reissued a "buy" rating and issued a $150.00 price target on shares of Itron in a research note on Wednesday, July 29th. Finally, Weiss Ratings lowered shares of Itron from a "hold (c+)" rating to a "hold (c-)" rating in a research note on Wednesday, October 28th. Nine research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Itron presently has an average rating of "Moderate Buy" and a consensus target price of $129.20.

Insider Transactions at Itron

In related news, SVP Donald L. Reeves III sold 283 shares of Itron stock in a transaction on Tuesday, August 25th. The stock was sold at an average price of $99.99, for a total transaction of $28,297.17. Following the completion of the sale, the senior vice president directly owned 27,662 shares of the company's stock, valued at $2,765,923.38. The trade was a 1.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP John Marcolini sold 331 shares of the company's stock in a transaction dated Monday, August 24th. The shares were sold at an average price of $98.79, for a total value of $32,699.49. Following the completion of the sale, the senior vice president directly owned 12,683 shares of the company's stock, valued at approximately $1,252,953.57. This trade represents a 2.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 19,233 shares of company stock valued at $1,886,033. 1.77% of the stock is currently owned by insiders.

Itron Stock Up 1.6%

ITRI stock opened at $99.97 on Tuesday. The company has a current ratio of 2.83, a quick ratio of 2.36 and a debt-to-equity ratio of 0.92. The firm has a market cap of $4.38 billion, a PE ratio of 13.58, a PEG ratio of 1.15 and a beta of 1.33. Itron, Inc. has a 1 year low of $77.77 and a 1 year high of $108.20. The company has a fifty day simple moving average of $91.14 and a 200 day simple moving average of $91.06.

Itron (NASDAQ:ITRI - Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The scientific and technical instruments company reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.38. The business had revenue of $599.33 million during the quarter, compared to the consensus estimate of $595.50 million. Itron had a net margin of 12.05% and a return on equity of 20.11%. Itron's quarterly revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.54 EPS. Sell-side analysts anticipate that Itron, Inc. will post 6.78 EPS for the current fiscal year.

Itron Profile

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