KBC Group NV Sells 60,484 Shares of Itron, Inc. (NASDAQ:ITRI)

KBC Group NV cut its holdings in Itron, Inc. (NASDAQ:ITRI - Free Report) by 41.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 85,738 shares of the scientific and technical instruments company's stock after selling 60,484 shares during the quarter. KBC Group NV owned about 0.19% of Itron worth $9,309,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ITRI. Quarry LP boosted its holdings in Itron by 53.0% in the second 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 in the last quarter. Continuum Advisory LLC boosted its stake in shares of Itron by 42.1% during the 3rd 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 in the last quarter. Covestor Ltd increased its holdings in shares of Itron by 26.1% during 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 during the last quarter. Farther Finance Advisors LLC raised its stake in shares of Itron by 21.7% in the 3rd 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 holdings 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 during the last quarter. 96.19% of the stock is owned by institutional investors.

Itron Price Performance

Shares of NASDAQ:ITRI traded up $1.49 during trading on Thursday, reaching $107.39. 120,857 shares of the company traded hands, compared to its average volume of 407,462. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. Itron, Inc. has a 52 week low of $71.00 and a 52 week high of $124.90. The firm has a market capitalization of $4.84 billion, a PE ratio of 22.10, a PEG ratio of 0.88 and a beta of 1.47. The company's 50 day moving average is $110.69 and its two-hundred day moving average is $106.95.

Itron (NASDAQ:ITRI - Get Free Report) last released 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. Itron had a return on equity of 19.03% and a net margin of 9.37%. The business had revenue of $615.46 million for the quarter, compared to analyst estimates of $596.41 million. During the same period last year, the firm posted $0.98 earnings per share. Itron's revenue was up 9.8% compared to the same quarter last year. As a group, sell-side analysts predict that Itron, Inc. will post 5.33 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on the company. Robert W. Baird increased 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. 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 research note on Friday, November 1st. TD Cowen boosted their target price on shares of Itron from $125.00 to $136.00 and gave the stock a "buy" rating in a research report on Friday, November 1st. Oppenheimer raised their price target on Itron from $120.00 to $124.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Finally, Guggenheim boosted their price objective on Itron from $128.00 to $135.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, Itron has an average rating of "Moderate Buy" and an average target price 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.