Lisanti Capital Growth LLC Decreases Stake in Itron, Inc. (NASDAQ:ITRI)

Lisanti Capital Growth LLC decreased its holdings in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 44.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,040 shares of the scientific and technical instruments company's stock after selling 19,260 shares during the period. Lisanti Capital Growth LLC owned approximately 0.05% of Itron worth $2,568,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Silvercrest Asset Management Group LLC purchased a new position in shares of Itron during the first quarter valued at approximately $401,000. Handelsbanken Fonder AB raised its position in shares of 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. grew its holdings in shares of Itron by 86.2% during the second quarter. Select Equity Group L.P. now owns 603,877 shares of the scientific and technical instruments company's stock worth $59,760,000 after buying an additional 279,629 shares in the last quarter. Assenagon Asset Management S.A. boosted its holdings in shares of Itron by 90.7% during the 3rd quarter. Assenagon Asset Management S.A. now owns 511,734 shares of the scientific and technical instruments company's stock worth $54,658,000 after purchasing an additional 243,355 shares during the last quarter. Finally, Hood River Capital Management LLC acquired a new stake in shares of Itron in the second quarter valued at approximately $22,612,000. Institutional investors and hedge funds own 96.19% of the company's stock.

Analysts Set New Price Targets

ITRI has been the topic of several research analyst reports. Piper Sandler boosted their price objective on shares of Itron from $110.00 to $119.00 and gave the company a "neutral" rating in a report on Friday, November 1st. JPMorgan Chase & Co. upped their target price on Itron from $104.00 to $112.00 and gave the company a "neutral" rating in a report on Tuesday, July 16th. Oppenheimer boosted 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. Robert W. Baird upped their price objective on Itron from $123.00 to $132.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Finally, Stephens reiterated an "equal weight" rating and set a $110.00 target price on shares of Itron in a report on Monday, August 5th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, Itron has a consensus rating of "Moderate Buy" and an average target price of $123.92.

Insider Activity at Itron

In other Itron news, SVP Donald L. Reeves III sold 4,210 shares of the company's stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total value of $425,210.00. Following the transaction, the senior vice president now owns 16,269 shares of the company's stock, valued at approximately $1,643,169. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO Joan S. Hooper sold 509 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $102.15, for a total value of $51,994.35. Following the transaction, the chief financial officer now owns 72,338 shares in the company, valued at $7,389,326.70. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Donald L. Reeves III sold 4,210 shares of the stock in a transaction on Thursday, August 22nd. The shares were 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 of the company's stock, valued at $1,643,169. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,198 shares of company stock valued at $4,508,334 over the last ninety days. Insiders own 1.45% of the company's stock.

Itron Stock Performance

NASDAQ ITRI traded up $0.72 on Monday, hitting $124.45. 267,400 shares of the company's stock were exchanged, compared to its average volume of 524,662. The firm's 50-day moving average price is $105.76 and its two-hundred day moving average price is $103.72. Itron, Inc. has a fifty-two week low of $62.74 and a fifty-two week high of $124.90. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83. The firm has a market cap of $5.61 billion, a price-to-earnings ratio of 25.35, a P/E/G ratio of 0.93 and a beta of 1.46.

Itron (NASDAQ:ITRI - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.13 by $0.71. The business had revenue of $615.46 million for the quarter, compared to the consensus estimate of $596.41 million. Itron had a net margin of 9.37% and a return on equity of 19.03%. Itron's revenue was up 9.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.98 earnings per share. On average, research analysts expect that Itron, Inc. will post 5.33 EPS for the current year.

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.