Charles Schwab Investment Management Inc. Reduces Stock Holdings in Itron, Inc. (NASDAQ:ITRI)

Charles Schwab Investment Management Inc. lessened its stake in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 6.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 562,549 shares of the scientific and technical instruments company's stock after selling 37,884 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.25% of Itron worth $60,086,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Handelsbanken Fonder AB raised its position in Itron by 62.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 899,789 shares of the scientific and technical instruments company's stock valued at $96,106,000 after purchasing an additional 346,615 shares during the last quarter. Select Equity Group L.P. raised its position in Itron by 86.2% in the 2nd 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 purchasing an additional 279,629 shares during the last quarter. Assenagon Asset Management S.A. raised its position in Itron by 90.7% in the 3rd 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 purchasing an additional 243,355 shares during the last quarter. Hood River Capital Management LLC bought a new position in Itron in the 2nd quarter valued at $22,612,000. Finally, Driehaus Capital Management LLC bought a new position in Itron in the 2nd quarter valued at $18,758,000. Institutional investors own 96.19% of the company's stock.

Itron Price Performance

Itron stock traded down $0.76 during mid-day trading on Friday, reaching $118.53. 209,181 shares of the company were exchanged, compared to its average volume of 519,376. Itron, Inc. has a 12 month low of $65.81 and a 12 month high of $124.90. The firm has a market cap of $5.34 billion, a PE ratio of 24.29, a PEG ratio of 0.90 and a beta of 1.46. The company has a fifty day simple moving average of $110.92 and a 200-day simple moving average of $105.40. 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 issued its 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 return on equity of 19.03% and a net margin of 9.37%. The business had revenue of $615.46 million during the quarter, compared to analyst estimates of $596.41 million. During the same period in the previous year, the company posted $0.98 EPS. The firm's revenue was up 9.8% compared to the same quarter last year. As a group, equities research analysts expect that Itron, Inc. will post 5.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on ITRI shares. Robert W. Baird lifted their price objective on Itron from $123.00 to $132.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Guggenheim lifted their target price on Itron from $128.00 to $135.00 and gave the company a "buy" rating in a research note on Wednesday, November 6th. Roth Mkm lifted their target price on Itron from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Janney Montgomery Scott initiated coverage on Itron in a research note on Friday, September 27th. They issued a "buy" rating and a $131.00 target price for the company. Finally, Oppenheimer lifted their target price on Itron from $120.00 to $124.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, Itron has a consensus rating of "Moderate Buy" and a consensus target price of $123.92.

Insiders Place Their Bets

In other Itron news, CEO Thomas Deitrich sold 37,500 shares of the business's stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total transaction of $3,931,125.00. Following the completion of the sale, the chief executive officer now directly 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.45% of the company's stock.

Itron Company 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.