Chartwell Investment Partners LLC Invests $1.89 Million in Itron, Inc. (NASDAQ:ITRI)

Chartwell Investment Partners LLC purchased a new position in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 17,703 shares of the scientific and technical instruments company's stock, valued at approximately $1,891,000.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in Itron by 0.8% during the first quarter. Vanguard Group Inc. now owns 5,701,337 shares of the scientific and technical instruments company's stock valued at $527,488,000 after purchasing an additional 45,909 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in shares of Itron by 62.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 899,789 shares of the scientific and technical instruments company's stock valued at $96,106,000 after buying an additional 346,615 shares in the last quarter. Select Equity Group L.P. boosted its holdings in Itron by 86.2% in the 2nd quarter. Select Equity Group L.P. now owns 603,877 shares of the scientific and technical instruments company's stock worth $59,760,000 after buying an additional 279,629 shares during the period. Janus Henderson Group PLC boosted its holdings in Itron by 2.2% in the 1st quarter. Janus Henderson Group PLC now owns 542,943 shares of the scientific and technical instruments company's stock worth $50,233,000 after buying an additional 11,918 shares during the period. Finally, Assenagon Asset Management S.A. increased its stake in Itron by 90.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 511,734 shares of the scientific and technical instruments company's stock worth $54,658,000 after buying an additional 243,355 shares in the last quarter. Institutional investors own 96.19% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. TD Cowen upped their price objective on Itron from $125.00 to $136.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Guggenheim boosted their price target on Itron from $128.00 to $135.00 and gave the stock a "buy" rating in a report on Wednesday, November 6th. Stephens reaffirmed an "equal weight" rating and set a $110.00 price objective on shares of Itron in a report on Monday, August 5th. Oppenheimer boosted their target price on shares of Itron from $120.00 to $124.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Finally, BNP Paribas initiated coverage on shares of Itron in a research report on Thursday, September 5th. They set an "outperform" rating and a $133.00 target price for the company. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $123.92.

Insider Activity

In other news, CEO Thomas Deitrich sold 37,500 shares of the stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $104.83, for a total value of $3,931,125.00. Following the sale, the chief executive officer now owns 205,276 shares of the company's stock, valued at approximately $21,519,083.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CFO Joan S. Hooper sold 509 shares of the firm's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $102.15, for a total value of $51,994.35. Following the transaction, the chief financial officer now owns 72,338 shares of the company's stock, valued at $7,389,326.70. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Thomas Deitrich sold 37,500 shares of the company's stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total transaction of $3,931,125.00. Following the completion of the transaction, the chief executive officer now owns 205,276 shares in the company, valued at $21,519,083.08. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,276 shares of company stock valued at $4,517,947. 1.45% of the stock is currently owned by insiders.

Itron Price Performance

Shares of NASDAQ:ITRI traded down $1.96 on Wednesday, reaching $119.27. The company's stock had a trading volume of 308,263 shares, compared to its average volume of 524,182. The company has a 50-day simple moving average of $107.11 and a 200 day simple moving average of $104.22. Itron, Inc. has a 52-week low of $64.55 and a 52-week 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. The company has a market cap of $5.38 billion, a P/E ratio of 24.44, a PEG ratio of 0.91 and a beta of 1.46.

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. Itron had a return on equity of 19.03% and a net margin of 9.37%. The company had revenue of $615.46 million during the quarter, compared to analyst estimates of $596.41 million. During the same quarter last year, the business posted $0.98 earnings per share. The firm's revenue was up 9.8% on a year-over-year basis. As a group, equities research analysts anticipate that Itron, Inc. will post 5.33 EPS for the current fiscal 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.