2,775 Shares in Itron, Inc. (NASDAQ:ITRI) Acquired by Merit Financial Group LLC

Merit Financial Group LLC bought a new position in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 2,775 shares of the scientific and technical instruments company's stock, valued at approximately $301,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ITRI. Quarry LP grew its stake in shares of Itron by 53.0% in the second quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company's stock valued at $35,000 after buying an additional 122 shares in the last quarter. Continuum Advisory LLC raised its stake in shares of Itron by 42.1% during the third quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company's stock valued at $40,000 after purchasing an additional 102 shares during the period. Covestor Ltd lifted 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 purchasing an additional 111 shares in the last quarter. Farther Finance Advisors LLC boosted its stake 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 during the period. Finally, Contravisory Investment Management Inc. grew its holdings in Itron by 154.9% during the 4th quarter. Contravisory Investment Management Inc. now owns 864 shares of the scientific and technical instruments company's stock valued at $94,000 after purchasing an additional 525 shares in the last quarter. Institutional investors and hedge funds own 96.19% of the company's stock.

Itron Stock Performance

Shares of NASDAQ:ITRI traded down $1.23 on Friday, reaching $106.86. 290,930 shares of the company's stock were exchanged, compared to its average volume of 334,061. Itron, Inc. has a fifty-two week low of $71.00 and a fifty-two week high of $124.90. The business's 50-day moving average is $111.24 and its two-hundred day moving average is $106.94. 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 firm has a market capitalization of $4.82 billion, a price-to-earnings ratio of 21.90, a PEG ratio of 0.88 and a beta of 1.47.

Itron (NASDAQ:ITRI - Get Free Report) last issued its earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.13 by $0.71. The firm had revenue of $615.46 million for the quarter, compared to analysts' expectations 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% on a year-over-year basis. During the same quarter last year, the company posted $0.98 earnings per share. As a group, equities research analysts forecast that Itron, Inc. will post 5.33 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have commented on ITRI. TD Cowen boosted their price objective on shares of Itron from $125.00 to $136.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Piper Sandler boosted their price target on Itron from $110.00 to $119.00 and gave the stock a "neutral" rating in a research note 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. Roth Mkm upped their target price on Itron from $125.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, November 1st. Finally, Guggenheim raised their price target on shares of Itron from $128.00 to $135.00 and gave the stock a "buy" rating in a research report on Wednesday, November 6th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target 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.