Hotchkis & Wiley Capital Management LLC Has $10.66 Million Stock Position in Itron, Inc. (NASDAQ:ITRI)

Hotchkis & Wiley Capital Management LLC lessened its holdings in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 12.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 99,805 shares of the scientific and technical instruments company's stock after selling 14,080 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 0.22% of Itron worth $10,660,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ITRI. Covestor Ltd increased 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 in the last quarter. Quarry LP increased its holdings in Itron by 53.0% during 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 in the last quarter. Hexagon Capital Partners LLC raised its stake in shares of Itron by 85.6% in 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 purchasing an additional 125 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Itron by 21.7% in 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 purchasing an additional 129 shares in the last quarter. Finally, Glenmede Trust Co. NA boosted its position in shares of Itron by 2.2% during the third quarter. Glenmede Trust Co. NA now owns 6,220 shares of the scientific and technical instruments company's stock worth $664,000 after buying an additional 134 shares during the period. 96.19% of the stock is currently owned by institutional investors.

Itron Stock Performance

Shares of NASDAQ:ITRI traded down $2.29 on Thursday, hitting $115.80. The company had a trading volume of 529,287 shares, compared to its average volume of 516,923. The stock has a market cap of $5.22 billion, a price-to-earnings ratio of 24.20, a P/E/G ratio of 0.89 and a beta of 1.46. The stock has a 50 day moving average price of $111.67 and a 200 day moving average price of $105.58. Itron, Inc. has a 1-year low of $67.21 and a 1-year 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.

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. The business had revenue of $615.46 million for 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%. During the same quarter in the prior year, the business earned $0.98 EPS. Itron's quarterly revenue was up 9.8% on a year-over-year basis. Analysts expect that Itron, Inc. will post 5.33 EPS for the current year.

Insider Buying and Selling

In other Itron news, CEO Thomas Deitrich sold 37,500 shares of the business's stock in a transaction dated 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 sale, the chief executive officer now owns 205,276 shares of the company's stock, valued at $21,519,083.08. The trade was a 15.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.45% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ITRI shares. Guggenheim boosted 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. Janney Montgomery Scott started coverage on shares of Itron in a research report on Friday, September 27th. They issued a "buy" rating and a $131.00 price objective on the stock. 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 report on Friday, November 1st. BNP Paribas assumed coverage on shares of Itron in a research note on Thursday, September 5th. They set an "outperform" rating and a $133.00 price objective for the company. Finally, TD Cowen raised their price objective on Itron from $125.00 to $136.00 and gave the company a "buy" rating in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $123.92.

About Itron

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.