Itron, Inc. (NASDAQ:ITRI) Position Decreased by Fmr LLC

FMR LLC lowered its holdings in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 26.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 110,671 shares of the scientific and technical instruments company's stock after selling 39,235 shares during the period. FMR LLC owned 0.25% of Itron worth $11,821,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of ITRI. Sculptor Capital LP purchased a new position in Itron during the 2nd quarter worth $5,255,000. Assenagon Asset Management S.A. increased its holdings 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 purchasing an additional 19,387 shares in the last quarter. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Itron by 97.8% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 10,207 shares of the scientific and technical instruments company's stock valued at $1,012,000 after purchasing an additional 5,047 shares in the last quarter. Driehaus Capital Management LLC purchased a new position in shares of Itron in the 2nd quarter valued at about $18,758,000. Finally, Intech Investment Management LLC increased its holdings in shares of Itron by 105.9% in the 3rd quarter. Intech Investment Management LLC now owns 19,444 shares of the scientific and technical instruments company's stock valued at $2,077,000 after purchasing an additional 10,001 shares in the last quarter. Institutional investors and hedge funds own 96.19% of the company's stock.

Analyst Upgrades and Downgrades

ITRI has been the subject of several recent research reports. Piper Sandler raised their target price on shares of Itron from $110.00 to $119.00 and gave the company a "neutral" rating in a report on Friday, November 1st. BNP Paribas initiated coverage on shares of Itron in a research note on Thursday, September 5th. They set an "outperform" rating and a $133.00 price target on the stock. TD Cowen raised their price target on shares of Itron from $125.00 to $136.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Oppenheimer raised their price target on shares of Itron from $120.00 to $124.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Finally, Roth Mkm raised their price target on shares of Itron from $125.00 to $130.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Itron presently has an average rating of "Moderate Buy" and a consensus price target of $123.92.

Itron Stock Down 2.0 %

Shares of NASDAQ:ITRI traded down $2.32 during midday trading on Thursday, reaching $111.97. The company had a trading volume of 407,898 shares, compared to its average volume of 514,662. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83. The stock's fifty day moving average price is $112.58 and its 200-day moving average price is $105.81. The stock has a market capitalization of $5.05 billion, a P/E ratio of 23.42, a PEG ratio of 0.87 and a beta of 1.46. Itron, Inc. has a one year low of $67.21 and a one year high of $124.90.

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

Insiders Place Their Bets

In other news, CEO Thomas Deitrich sold 37,500 shares of the business's stock in a transaction on Tuesday, October 1st. The shares were 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.45% of the stock is currently owned by corporate insiders.

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.