24,696 Shares in Itron, Inc. (NASDAQ:ITRI) Bought by Weiss Asset Management LP

Weiss Asset Management LP acquired a new position in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 24,696 shares of the scientific and technical instruments company's stock, valued at approximately $2,638,000. Weiss Asset Management LP owned about 0.05% of Itron at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Hexagon Capital Partners LLC grew its position in Itron by 85.6% in the 2nd quarter. Hexagon Capital Partners LLC now owns 271 shares of the scientific and technical instruments company's stock valued at $27,000 after acquiring an additional 125 shares in the last quarter. Quarry LP grew its position in Itron by 53.0% in the 2nd quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company's stock valued at $35,000 after acquiring an additional 122 shares in the last quarter. Covestor Ltd grew its position in Itron by 26.1% in the 3rd quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company's stock valued at $57,000 after acquiring an additional 111 shares in the last quarter. Farther Finance Advisors LLC grew its position in Itron by 21.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 724 shares of the scientific and technical instruments company's stock valued at $77,000 after acquiring an additional 129 shares in the last quarter. Finally, CWM LLC grew its position in Itron by 315.6% in the 2nd quarter. CWM LLC now owns 881 shares of the scientific and technical instruments company's stock valued at $87,000 after acquiring an additional 669 shares in the last quarter. 96.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO Thomas Deitrich sold 37,500 shares of the business's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total value of $3,931,125.00. Following the transaction, the chief executive officer now owns 205,276 shares of the company's stock, valued at approximately $21,519,083.08. The trade was a 15.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.45% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ITRI. Oppenheimer lifted their target price on Itron from $120.00 to $124.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Piper Sandler lifted their price objective on Itron from $110.00 to $119.00 and gave the company a "neutral" rating in a research note on Friday, November 1st. Janney Montgomery Scott started coverage on Itron in a research note on Friday, September 27th. They issued a "buy" rating and a $131.00 price objective for the company. TD Cowen lifted their price objective on Itron from $125.00 to $136.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Finally, Guggenheim lifted their price objective on Itron from $128.00 to $135.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Itron currently has a consensus rating of "Moderate Buy" and a consensus target price of $123.92.

Itron Stock Performance

ITRI traded up $0.12 during trading on Friday, hitting $115.92. 347,476 shares of the stock were exchanged, compared to its average volume of 394,202. The firm has a market capitalization of $5.23 billion, a P/E ratio of 23.75, a PEG ratio of 0.89 and a beta of 1.46. Itron, Inc. has a 1-year low of $67.21 and a 1-year high of $124.90. The stock has a fifty day moving average price of $112.09 and a two-hundred day moving average price of $105.68. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91.

Itron (NASDAQ:ITRI - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 EPS for the quarter, topping the consensus estimate of $1.13 by $0.71. The company had revenue of $615.46 million for the quarter, compared to analyst estimates of $596.41 million. Itron had a return on equity of 19.03% and a net margin of 9.37%. The firm's revenue was up 9.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.98 earnings per share. As a group, sell-side analysts predict that Itron, Inc. will post 5.33 earnings per share for the current year.

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.