Soros Fund Management LLC Grows Stock Holdings in Itron, Inc. (NASDAQ:ITRI)

Soros Fund Management LLC increased its holdings in Itron, Inc. (NASDAQ:ITRI - Free Report) by 38.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 275,000 shares of the scientific and technical instruments company's stock after purchasing an additional 77,050 shares during the quarter. Soros Fund Management LLC owned approximately 0.61% of Itron worth $29,373,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ITRI. Quarry LP raised its stake in Itron by 29.0% during the third quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company's stock worth $48,000 after buying an additional 102 shares during the last quarter. Stifel Financial Corp grew its position in shares of Itron by 2.2% during the 3rd quarter. Stifel Financial Corp now owns 4,921 shares of the scientific and technical instruments company's stock worth $526,000 after buying an additional 108 shares during the period. Covestor Ltd increased its stake in shares of Itron by 26.1% in the 3rd quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company's stock valued at $57,000 after acquiring an additional 111 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in shares of Itron by 85.6% during the 2nd quarter. Hexagon Capital Partners LLC now owns 271 shares of the scientific and technical instruments company's stock valued at $27,000 after acquiring an additional 125 shares during the period. Finally, Farther Finance Advisors LLC boosted 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 worth $77,000 after acquiring an additional 129 shares in the last quarter. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Itron news, 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 value of $3,931,125.00. Following the transaction, the chief executive officer now directly owns 205,276 shares in the company, valued at $21,519,083.08. This represents a 15.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.45% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ITRI shares. Oppenheimer upped their price objective on shares of Itron from $120.00 to $124.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Roth Mkm increased their price target on Itron from $125.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Robert W. Baird boosted their price objective on Itron from $123.00 to $132.00 and gave the company an "outperform" rating in a report on Friday, November 1st. TD Cowen upped their target price on Itron from $125.00 to $136.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Finally, Piper Sandler boosted their target price on shares of Itron from $110.00 to $119.00 and gave the stock a "neutral" rating in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $123.92.

Itron Stock Performance

Shares of ITRI traded up $0.30 during mid-day trading on Friday, hitting $116.10. The stock had a trading volume of 72,632 shares, compared to its average volume of 515,019. Itron, Inc. has a 52 week low of $67.21 and a 52 week high of $124.90. The business has a fifty day moving average price of $111.92 and a 200-day moving average price of $105.65. The firm has a market cap of $5.23 billion, a P/E ratio of 23.73, a PEG 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 quarterly earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 EPS for the quarter, beating 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 company had revenue of $615.46 million for the quarter, compared to analysts' expectations of $596.41 million. During the same period in the prior year, the company posted $0.98 EPS. Itron's revenue was up 9.8% compared to the same quarter last year. On average, equities research analysts expect that Itron, Inc. will post 5.33 EPS for the current 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.