Blueshift Asset Management LLC Makes New $448,000 Investment in Itron, Inc. (NASDAQ:ITRI)

Blueshift Asset Management LLC bought a new stake in Itron, Inc. (NASDAQ:ITRI - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 4,199 shares of the scientific and technical instruments company's stock, valued at approximately $448,000.

Several other institutional investors have also recently added to or reduced their stakes in ITRI. Glenmede Trust Co. NA grew its holdings in Itron by 2.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 6,220 shares of the scientific and technical instruments company's stock valued at $664,000 after buying an additional 134 shares during the period. Freedom Investment Management Inc. grew its holdings in Itron by 2.7% in the 3rd quarter. Freedom Investment Management Inc. now owns 12,649 shares of the scientific and technical instruments company's stock valued at $1,351,000 after buying an additional 337 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Itron by 2.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 26,231 shares of the scientific and technical instruments company's stock valued at $2,802,000 after buying an additional 571 shares during the period. Truvestments Capital LLC purchased a new stake in Itron in the 3rd quarter valued at about $103,000. Finally, Dynamic Technology Lab Private Ltd grew its holdings in shares of Itron by 5.6% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 16,406 shares of the scientific and technical instruments company's stock worth $1,752,000 after purchasing an additional 871 shares during the period. Institutional investors and hedge funds own 96.19% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on ITRI shares. Roth Mkm upped their target price on Itron from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, November 1st. TD Cowen upped their target price on Itron from $125.00 to $136.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Stephens reaffirmed an "equal weight" rating and issued a $110.00 target price on shares of Itron in a research report on Monday, August 5th. Robert W. Baird upped their target price on Itron from $123.00 to $132.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Finally, Guggenheim upped their target price on Itron from $128.00 to $135.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $123.92.

Insiders Place Their Bets

In other news, CEO Thomas Deitrich sold 37,500 shares of Itron stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 205,276 shares of the company's stock, valued at approximately $21,519,083.08. This trade represents a 15.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.45% of the company's stock.

Itron Trading Down 0.6 %

Shares of NASDAQ ITRI traded down $0.76 during mid-day trading on Friday, hitting $118.53. 209,181 shares of the company traded hands, compared to its average volume of 519,376. Itron, Inc. has a 1 year low of $65.81 and a 1 year high of $124.90. The stock has a market capitalization of $5.34 billion, a price-to-earnings ratio of 24.44, a PEG ratio of 0.90 and a beta of 1.46. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. The business has a 50 day moving average of $110.70 and a two-hundred day moving average of $105.31.

Itron (NASDAQ:ITRI - Get Free Report) last issued its earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share 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 business's revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.98 EPS. On average, sell-side analysts anticipate that Itron, Inc. will post 5.33 earnings per share for the current fiscal year.

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.