Guinness Asset Management LTD lowered its holdings in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 27.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 193,085 shares of the scientific and technical instruments company's stock after selling 72,199 shares during the quarter. Guinness Asset Management LTD owned approximately 0.43% of Itron worth $20,966,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in ITRI. Quarry LP boosted its stake in Itron by 53.0% in the 2nd quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company's stock worth $35,000 after purchasing an additional 122 shares during the period. Continuum Advisory LLC boosted its position in shares of Itron by 42.1% during the third quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company's stock worth $40,000 after acquiring an additional 102 shares during the last quarter. Covestor Ltd boosted its position in shares of Itron by 26.1% during the third quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company's stock worth $57,000 after acquiring an additional 111 shares during the last quarter. Farther Finance Advisors LLC grew its stake in Itron by 21.7% during the third quarter. Farther Finance Advisors LLC now owns 724 shares of the scientific and technical instruments company's stock valued at $77,000 after acquiring an additional 129 shares in the last quarter. Finally, Contravisory Investment Management Inc. lifted its stake in Itron by 154.9% in the 4th quarter. Contravisory Investment Management Inc. now owns 864 shares of the scientific and technical instruments company's stock worth $94,000 after purchasing an additional 525 shares in the last quarter. Hedge funds and other institutional investors own 96.19% of the company's stock.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on ITRI. Janney Montgomery Scott started coverage on Itron in a research report on Friday, September 27th. They set a "buy" rating and a $131.00 price objective for the company. Robert W. Baird raised their price target on Itron from $123.00 to $132.00 and gave the company an "outperform" rating in a report on Friday, November 1st. TD Cowen increased 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. Piper Sandler upped their price target on shares of Itron from $110.00 to $119.00 and gave the company a "neutral" rating in a research note on Friday, November 1st. Finally, Guggenheim lifted their price objective on shares of Itron from $128.00 to $135.00 and gave the stock a "buy" rating in a research note on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $123.92.
View Our Latest Report on ITRI
Itron Trading Up 0.9 %
Shares of ITRI stock traded up $0.91 on Monday, reaching $105.36. 394,015 shares of the company's stock were exchanged, compared to its average volume of 353,397. The company's fifty day simple moving average is $112.52 and its 200 day simple moving average is $106.67. The stock has a market capitalization of $4.75 billion, a PE ratio of 21.59, a P/E/G ratio of 0.85 and a beta of 1.47. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91. Itron, Inc. has a 52 week low of $69.23 and a 52 week high of $124.90.
Itron (NASDAQ:ITRI - Get Free Report) last posted 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. The company had revenue of $615.46 million for the quarter, compared to the consensus estimate of $596.41 million. Itron had a net margin of 9.37% and a return on equity of 19.03%. The firm's revenue was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.98 EPS. As a group, analysts forecast that Itron, Inc. will post 5.33 EPS for the current year.
Itron Profile
(
Free Report)
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.
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