D. E. Shaw & Co. Inc. Sells 33,062 Shares of Itron, Inc. (NASDAQ:ITRI)

D. E. Shaw & Co. Inc. decreased its stake in Itron, Inc. (NASDAQ:ITRI - Free Report) by 48.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 35,662 shares of the scientific and technical instruments company's stock after selling 33,062 shares during the quarter. D. E. Shaw & Co. Inc. owned 0.08% of Itron worth $3,872,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ITRI. Deutsche Bank AG grew its holdings in shares of Itron by 6.4% in the 4th quarter. Deutsche Bank AG now owns 260,360 shares of the scientific and technical instruments company's stock valued at $28,270,000 after buying an additional 15,717 shares during the period. Driehaus Capital Management LLC grew its stake in Itron by 2.7% in the fourth quarter. Driehaus Capital Management LLC now owns 342,427 shares of the scientific and technical instruments company's stock valued at $37,181,000 after acquiring an additional 9,107 shares during the period. Concentric Capital Strategies LP grew its stake in Itron by 157.8% in the fourth quarter. Concentric Capital Strategies LP now owns 98,099 shares of the scientific and technical instruments company's stock valued at $10,652,000 after acquiring an additional 60,052 shares during the period. CoreCap Advisors LLC increased its holdings in shares of Itron by 25.5% in the fourth quarter. CoreCap Advisors LLC now owns 616 shares of the scientific and technical instruments company's stock worth $67,000 after acquiring an additional 125 shares in the last quarter. Finally, Bosun Asset Management LLC raised its position in shares of Itron by 60.7% during the fourth quarter. Bosun Asset Management LLC now owns 5,311 shares of the scientific and technical instruments company's stock worth $577,000 after purchasing an additional 2,007 shares during the period. Institutional investors own 96.19% of the company's stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ITRI. Canaccord Genuity Group boosted their price objective on Itron from $130.00 to $132.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. StockNews.com cut shares of Itron from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 1st. Guggenheim reissued a "buy" rating and set a $133.00 price objective on shares of Itron in a research report on Thursday, April 17th. Oppenheimer boosted their price objective 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. Finally, Piper Sandler lowered their target price on Itron from $124.00 to $121.00 and set a "neutral" rating for the company in a report on Monday, May 5th. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Itron presently has an average rating of "Moderate Buy" and a consensus target price of $127.36.

Itron Trading Up 0.5%

Itron stock opened at $114.82 on Monday. The company has a market cap of $5.23 billion, a price-to-earnings ratio of 23.53, a P/E/G ratio of 0.81 and a beta of 1.31. The firm has a 50-day moving average of $105.28 and a 200-day moving average of $107.94. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83. Itron, Inc. has a one year low of $90.11 and a one year high of $124.90.

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

Insider Activity at Itron

In other Itron news, Director Mary C. Hemmingsen sold 5,150 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $108.70, for a total value of $559,805.00. Following the completion of the sale, the director now owns 952 shares in the company, valued at $103,482.40. This trade represents a 84.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO David Marshall Wright sold 317 shares of Itron stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.90, for a total transaction of $29,449.30. Following the completion of the transaction, the chief accounting officer now directly owns 8,108 shares of the company's stock, valued at approximately $753,233.20. This trade represents a 3.76% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,187 shares of company stock valued at $945,620. 1.45% of the stock is owned by corporate insiders.

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.

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