Entropy Technologies LP Takes Position in Itron, Inc. (NASDAQ:ITRI)

Entropy Technologies LP 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 4,700 shares of the scientific and technical instruments company's stock, valued at approximately $502,000.

Several other large investors have also made changes to their positions in ITRI. Silvercrest Asset Management Group LLC acquired a new stake in shares of Itron during the 1st quarter worth approximately $401,000. Handelsbanken Fonder AB boosted its position in Itron by 62.7% in the third 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 position in Itron by 86.2% in the second quarter. Select Equity Group L.P. now owns 603,877 shares of the scientific and technical instruments company's stock valued at $59,760,000 after buying an additional 279,629 shares in the last quarter. Assenagon Asset Management S.A. boosted its position in Itron by 90.7% in the third quarter. Assenagon Asset Management S.A. now owns 511,734 shares of the scientific and technical instruments company's stock valued at $54,658,000 after buying an additional 243,355 shares in the last quarter. Finally, Hood River Capital Management LLC acquired a new stake in Itron in the second quarter valued at approximately $22,612,000. Institutional investors and hedge funds own 96.19% of the company's stock.

Analyst Ratings Changes

ITRI has been the topic of a number of research analyst reports. TD Cowen raised their target price on shares of Itron from $125.00 to $136.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Robert W. Baird raised their target price on shares of Itron from $123.00 to $132.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Stephens restated an "equal weight" rating and issued a $110.00 target price on shares of Itron in a research report on Monday, August 5th. Janney Montgomery Scott began coverage on shares of Itron in a research note on Friday, September 27th. They set a "buy" rating and a $131.00 price target for the company. Finally, BNP Paribas began coverage on shares of Itron in a research note on Thursday, September 5th. They set an "outperform" rating and a $133.00 price target for the company. Four research 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.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $123.92.

Insider Buying and Selling at Itron

In other news, CFO Joan S. Hooper sold 509 shares of Itron stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $102.15, for a total transaction of $51,994.35. Following the completion of the transaction, the chief financial officer now directly owns 72,338 shares in the company, valued at $7,389,326.70. This trade represents a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Thomas Deitrich sold 887 shares of Itron stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $102.15, for a total transaction of $90,607.05. Following the transaction, the chief executive officer now owns 205,276 shares of the company's stock, valued at $20,968,943.40. This represents a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,276 shares of company stock valued at $4,517,947. Corporate insiders own 1.45% of the company's stock.

Itron Trading Down 2.3 %

NASDAQ ITRI traded down $2.69 during mid-day trading on Friday, reaching $114.90. 385,704 shares of the stock were exchanged, compared to its average volume of 523,119. Itron, Inc. has a one year low of $64.96 and a one year high of $124.90. The stock has a 50 day simple moving average of $107.85 and a 200-day simple moving average of $104.45. The stock has a market cap of $5.18 billion, a P/E ratio of 23.55, a P/E/G ratio of 0.89 and a beta of 1.46. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83.

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 for the quarter, topping analysts' consensus estimates of $1.13 by $0.71. Itron had a net margin of 9.37% and a return on equity of 19.03%. The business had revenue of $615.46 million during the quarter, compared to the consensus estimate of $596.41 million. During the same quarter last year, the firm earned $0.98 earnings per share. Itron's quarterly revenue was up 9.8% on a year-over-year basis. On average, analysts anticipate that Itron, Inc. will post 5.33 EPS for the current 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.