Loomis Sayles & Co. L P Sells 12,569 Shares of Itron, Inc. (NASDAQ:ITRI)

Loomis Sayles & Co. L P trimmed its position in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 2.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 543,885 shares of the scientific and technical instruments company's stock after selling 12,569 shares during the period. Loomis Sayles & Co. L P owned approximately 1.21% of Itron worth $58,092,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Hexagon Capital Partners LLC boosted its stake in Itron by 85.6% in the second quarter. Hexagon Capital Partners LLC now owns 271 shares of the scientific and technical instruments company's stock valued at $27,000 after buying an additional 125 shares in the last quarter. Quarry LP boosted its stake in shares of Itron by 53.0% in the 2nd quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company's stock valued at $35,000 after purchasing an additional 122 shares in the last quarter. Covestor Ltd grew 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 purchasing an additional 111 shares during the last quarter. GAMMA Investing LLC raised its holdings in Itron by 46.6% in the 2nd quarter. GAMMA Investing LLC now owns 720 shares of the scientific and technical instruments company's stock valued at $71,000 after buying an additional 229 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in shares of Itron by 21.7% during 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 acquiring an additional 129 shares during the last quarter. 96.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ITRI. Oppenheimer raised their target price on Itron from $120.00 to $124.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Guggenheim upped their target price on Itron from $128.00 to $135.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Roth Mkm raised their price target on shares of Itron from $125.00 to $130.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Robert W. Baird raised their price objective on Itron from $123.00 to $132.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Finally, Piper Sandler upped their price objective on shares of Itron from $110.00 to $119.00 and gave the stock a "neutral" rating in a report on Friday, November 1st. 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, the company has an average rating of "Moderate Buy" and a consensus target price of $123.92.

Insider Activity

In other Itron news, CEO Thomas Deitrich sold 37,500 shares of the business's stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total value of $3,931,125.00. Following the sale, the chief executive officer now directly owns 205,276 shares in the company, valued at $21,519,083.08. The trade was a 15.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 1.45% of the company's stock.

Itron Stock Performance

Itron stock traded down $0.23 during mid-day trading on Monday, reaching $118.70. 754,789 shares of the company's stock were exchanged, compared to its average volume of 522,018. The firm has a market capitalization of $5.35 billion, a PE ratio of 24.32, a P/E/G ratio of 0.89 and a beta of 1.46. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. The business's fifty day simple moving average is $109.53 and its 200 day simple moving average is $104.97. Itron, Inc. has a one year low of $65.42 and a one year high of $124.90.

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

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.