PDT Partners LLC Has $4.43 Million Stock Position in Itron, Inc. (NASDAQ:ITRI)

PDT Partners LLC grew its holdings in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 8.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 40,794 shares of the scientific and technical instruments company's stock after purchasing an additional 3,090 shares during the period. PDT Partners LLC owned about 0.09% of Itron worth $4,429,000 at the end of the most recent quarter.

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

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Oppenheimer boosted 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. StockNews.com downgraded Itron from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 1st. Guggenheim reiterated a "buy" rating and issued a $133.00 price target on shares of Itron in a research note on Thursday, April 17th. Piper Sandler upped their price objective on Itron from $119.00 to $124.00 and gave the stock a "neutral" rating in a research report on Thursday, February 27th. Finally, Canaccord Genuity Group lifted their target price on Itron from $130.00 to $132.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Itron has an average rating of "Moderate Buy" and an average price target of $127.64.

Itron Trading Up 0.2 %

Shares of Itron stock traded up $0.18 on Friday, hitting $108.23. The stock had a trading volume of 767,961 shares, compared to its average volume of 571,349. The stock has a 50 day moving average of $104.37 and a 200 day moving average of $107.47. The firm has a market capitalization of $4.93 billion, a P/E ratio of 22.18, a PEG ratio of 0.81 and a beta of 1.39. Itron, Inc. has a twelve month low of $90.11 and a twelve month high of $124.90. 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 (NASDAQ:ITRI - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The scientific and technical instruments company reported $1.52 earnings per share (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 net margin of 9.37% and a return on equity of 19.03%. The company's revenue was up .6% on a year-over-year basis. During the same period in the prior year, the company posted $1.24 EPS. Sell-side analysts expect that Itron, Inc. will post 5.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Itron news, CFO Joan S. Hooper sold 2,322 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $92.90, for a total transaction of $215,713.80. Following the completion of the transaction, the chief financial officer now owns 92,076 shares in the company, valued at approximately $8,553,860.40. This trade represents a 2.46 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Christopher E. Ware sold 648 shares of the company's stock in a transaction on 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. This represents a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,037 shares of company stock valued at $385,815. 1.45% of the stock is currently owned by company insiders.

About Itron

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.