Victory Capital Management Inc. Has $30.31 Million Position in Itron, Inc. (NASDAQ:ITRI)

Victory Capital Management Inc. lifted its stake in Itron, Inc. (NASDAQ:ITRI - Free Report) by 41.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 283,728 shares of the scientific and technical instruments company's stock after purchasing an additional 83,328 shares during the period. Victory Capital Management Inc. owned approximately 0.63% of Itron worth $30,305,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the company. Jupiter Asset Management Ltd. acquired a new position in Itron during the first quarter worth $2,029,000. Sculptor Capital LP acquired a new position in shares of Itron during the 2nd quarter worth $5,255,000. UniSuper Management Pty Ltd purchased a new stake in shares of Itron in the 1st quarter worth about $904,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its stake in Itron by 113.0% in the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 30,988 shares of the scientific and technical instruments company's stock valued at $2,867,000 after acquiring an additional 16,441 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its stake in 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. Hedge funds and other institutional investors own 96.19% of the company's stock.

Itron Stock Performance

Itron stock traded down $2.69 during midday trading on Friday, reaching $114.90. 385,704 shares of the stock traded hands, compared to its average volume of 561,492. Itron, Inc. has a fifty-two week low of $64.96 and a fifty-two week high of $124.90. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91. The firm has a market cap of $5.18 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 0.86 and a beta of 1.46. The firm has a fifty day moving average price of $107.85 and a two-hundred day moving average price of $104.54.

Itron (NASDAQ:ITRI - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.71. The company 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 for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.98 EPS. On average, equities research analysts forecast that Itron, Inc. will post 5.33 earnings per share for the current year.

Insider Activity at Itron

In related news, CEO Thomas Deitrich sold 37,500 shares of the firm's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $104.83, for a total value 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. This trade represents a 15.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Donald L. Reeves III sold 4,210 shares of Itron stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total transaction of $425,210.00. Following the transaction, the senior vice president now owns 16,269 shares in the company, valued at approximately $1,643,169. The trade was a 20.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,276 shares of company stock worth $4,517,947 in the last quarter. 1.45% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ITRI has been the topic of several recent analyst reports. Oppenheimer upped their price objective on shares of Itron from $120.00 to $124.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. TD Cowen lifted 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. Janney Montgomery Scott started coverage on Itron in a research note on Friday, September 27th. They issued a "buy" rating and a $131.00 price target on the stock. Piper Sandler raised their price objective on Itron from $110.00 to $119.00 and gave the company a "neutral" rating in a research note on Friday, November 1st. Finally, BNP Paribas initiated coverage on shares of Itron in a research report 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 stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $123.92.

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.