Concentric Capital Strategies LP Boosts Holdings in Itron, Inc. (NASDAQ:ITRI)

Concentric Capital Strategies LP increased its position in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 96.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 38,047 shares of the scientific and technical instruments company's stock after acquiring an additional 18,706 shares during the period. Concentric Capital Strategies LP owned about 0.08% of Itron worth $4,064,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently added to or reduced their stakes in ITRI. Sculptor Capital LP acquired a new position in shares of Itron in the 2nd quarter worth approximately $5,255,000. Assenagon Asset Management S.A. increased its stake in shares of Itron by 7.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 268,379 shares of the scientific and technical instruments company's stock valued at $26,559,000 after acquiring an additional 19,387 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in Itron by 97.8% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 10,207 shares of the scientific and technical instruments company's stock worth $1,012,000 after purchasing an additional 5,047 shares during the period. Driehaus Capital Management LLC bought a new position in Itron during the second quarter worth about $18,758,000. Finally, Intech Investment Management LLC increased its stake in Itron by 105.9% during the 3rd quarter. Intech Investment Management LLC now owns 19,444 shares of the scientific and technical instruments company's stock worth $2,077,000 after purchasing an additional 10,001 shares in the last quarter. 96.19% of the stock is owned by institutional investors.

Insider Buying and Selling

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 transaction, the chief executive officer now directly owns 205,276 shares in the company, valued at approximately $21,519,083.08. This trade represents a 15.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.45% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on ITRI. Piper Sandler raised their price target on shares of Itron from $110.00 to $119.00 and gave the stock a "neutral" rating in a research note on Friday, November 1st. Stephens reaffirmed an "equal weight" rating and set a $110.00 price objective on shares of Itron in a research report on Monday, August 5th. Guggenheim lifted 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. BNP Paribas assumed coverage on Itron in a research report on Thursday, September 5th. They set an "outperform" rating and a $133.00 price target on the stock. Finally, Roth Mkm boosted their target price on shares of Itron from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $123.92.

Itron Stock Down 0.5 %

Itron stock traded down $0.55 during trading hours on Tuesday, hitting $117.73. The stock had a trading volume of 92,772 shares, compared to its average volume of 516,630. The stock has a market capitalization of $5.31 billion, a P/E ratio of 24.24, a price-to-earnings-growth ratio of 0.89 and a beta of 1.46. The stock's 50-day moving average price is $111.14 and its 200-day moving average price is $105.43. Itron, Inc. has a 12-month low of $67.21 and a 12-month high of $124.90. 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 announced its earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share (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 business had revenue of $615.46 million for the quarter, compared to analysts' expectations of $596.41 million. During the same period last year, the firm posted $0.98 earnings per share. The business's revenue for the quarter was up 9.8% on a year-over-year basis. 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.