Raymond James & Associates lifted its holdings in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 51.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,621 shares of the scientific and technical instruments company's stock after acquiring an additional 16,208 shares during the period. Raymond James & Associates owned 0.10% of Itron worth $3,596,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Itron by 2.6% during the third quarter. Vanguard Group Inc. now owns 5,668,071 shares of the scientific and technical instruments company's stock worth $343,372,000 after acquiring an additional 142,564 shares during the last quarter. Trexquant Investment LP grew its position in Itron by 48.8% in the 3rd quarter. Trexquant Investment LP now owns 57,431 shares of the scientific and technical instruments company's stock valued at $3,479,000 after buying an additional 18,842 shares during the last quarter. Hsbc Holdings PLC grew its position in Itron by 495.8% in the 3rd quarter. Hsbc Holdings PLC now owns 21,086 shares of the scientific and technical instruments company's stock valued at $1,280,000 after buying an additional 17,547 shares during the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new position in Itron in the 3rd quarter valued at $539,000. Finally, Quantbot Technologies LP purchased a new position in Itron in the 3rd quarter valued at $908,000. 96.19% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at Itron
In related news, CFO Joan S. Hooper sold 1,560 shares of the business's stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total value of $117,577.20. Following the completion of the transaction, the chief financial officer now owns 60,141 shares of the company's stock, valued at approximately $4,532,827.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CFO Joan S. Hooper sold 1,560 shares of the business's stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total value of $117,577.20. Following the completion of the transaction, the chief financial officer now owns 60,141 shares of the company's stock, valued at approximately $4,532,827.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas Deitrich sold 1,912 shares of the business's stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total transaction of $144,107.44. Following the completion of the transaction, the chief executive officer now directly owns 169,073 shares of the company's stock, valued at approximately $12,743,032.01. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,467 shares of company stock valued at $2,752,520. 1.45% of the stock is owned by insiders.
Itron Price Performance
Shares of NASDAQ:ITRI traded down $0.76 during midday trading on Friday, hitting $91.44. 392,451 shares of the stock were exchanged, compared to its average volume of 393,969. The stock has a market cap of $4.19 billion, a P/E ratio of 43.54, a PEG ratio of 1.02 and a beta of 1.41. The company has a current ratio of 1.95, a quick ratio of 1.43 and a debt-to-equity ratio of 0.34. Itron, Inc. has a twelve month low of $50.60 and a twelve month high of $96.73. The company has a 50 day moving average price of $86.27 and a 200-day moving average price of $73.83.
Itron (NASDAQ:ITRI - Get Free Report) last released its quarterly earnings results on Monday, February 26th. The scientific and technical instruments company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.48. The business had revenue of $577.17 million during the quarter, compared to the consensus estimate of $569.90 million. Itron had a return on equity of 12.27% and a net margin of 4.46%. The business's revenue was up 23.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.71 EPS. On average, research analysts forecast that Itron, Inc. will post 3.61 earnings per share for the current year.
Wall Street Analysts Forecast Growth
A number of equities analysts recently weighed in on ITRI shares. JPMorgan Chase & Co. lifted their price objective on shares of Itron from $77.00 to $92.00 and gave the company a "neutral" rating in a research report on Wednesday, March 13th. Raymond James lowered shares of Itron from an "outperform" rating to a "market perform" rating in a research report on Thursday, January 4th. Canaccord Genuity Group upgraded shares of Itron from a "hold" rating to a "buy" rating and boosted their target price for the stock from $68.00 to $105.00 in a research report on Tuesday, February 27th. Piper Sandler decreased their target price on shares of Itron from $105.00 to $103.00 and set an "overweight" rating on the stock in a research report on Thursday. Finally, Canaccord Genuity Group upgraded shares of Itron from a "hold" rating to a "buy" rating and boosted their target price for the stock from $68.00 to $105.00 in a research report on Tuesday, February 27th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $95.60.
Get Our Latest Research Report on ITRI
Itron Profile
(
Free Report)
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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