Itron, Inc. (NASDAQ:ITRI) Stock Position Lifted by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its holdings in Itron, Inc. (NASDAQ:ITRI - Free Report) by 90.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 511,734 shares of the scientific and technical instruments company's stock after buying an additional 243,355 shares during the quarter. Assenagon Asset Management S.A. owned approximately 1.12% of Itron worth $54,658,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Quarry LP grew its holdings in 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 buying an additional 122 shares during the period. Hexagon Capital Partners LLC grew its holdings in 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 buying an additional 125 shares during the period. Xponance Inc. grew its holdings in Itron by 5.1% in the 2nd quarter. Xponance Inc. now owns 2,910 shares of the scientific and technical instruments company's stock valued at $288,000 after buying an additional 142 shares during the period. GAMMA Investing LLC grew 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 period. Finally, Private Advisor Group LLC grew its holdings in Itron by 1.9% in the 2nd quarter. Private Advisor Group LLC now owns 13,538 shares of the scientific and technical instruments company's stock valued at $1,340,000 after buying an additional 247 shares during the period. Hedge funds and other institutional investors own 96.19% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ITRI shares. StockNews.com cut Itron from a "strong-buy" rating to a "buy" rating in a report on Friday, June 28th. TD Cowen boosted their target price on Itron from $115.00 to $125.00 and gave the stock a "buy" rating in a report on Friday, August 2nd. Piper Sandler boosted their target price on Itron from $109.00 to $110.00 and gave the stock a "neutral" rating in a report on Monday, July 22nd. Stephens reiterated an "equal weight" rating and set a $110.00 target price on shares of Itron in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. boosted their target price on Itron from $104.00 to $112.00 and gave the stock a "neutral" rating in a report on Tuesday, July 16th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Itron currently has a consensus rating of "Moderate Buy" and a consensus target price of $119.67.

Itron Stock Up 1.2 %

Shares of ITRI traded up $1.17 during trading on Friday, reaching $102.89. The company's stock had a trading volume of 235,395 shares, compared to its average volume of 514,909. The company has a fifty day moving average of $102.98 and a two-hundred day moving average of $101.92. Itron, Inc. has a twelve month low of $56.11 and a twelve month high of $113.07. The company has a market cap of $4.72 billion, a price-to-earnings ratio of 29.23, a P/E/G ratio of 0.91 and a beta of 1.47. The company has a quick ratio of 2.61, a current ratio of 3.16 and a debt-to-equity ratio of 0.98.

Itron (NASDAQ:ITRI - Get Free Report) last posted its quarterly earnings results on Thursday, August 1st. The scientific and technical instruments company reported $1.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.96 by $0.25. The business had revenue of $609.07 million for the quarter, compared to analyst estimates of $599.25 million. Itron had a return on equity of 16.42% and a net margin of 7.98%. The business's revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.65 EPS. On average, sell-side analysts predict that Itron, Inc. will post 4.58 EPS for the current fiscal year.

Insider Activity at Itron

In related news, CEO Thomas Deitrich sold 887 shares of the company's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $102.15, for a total transaction of $90,607.05. Following the sale, the chief executive officer now directly owns 205,276 shares of the company's stock, valued at approximately $20,968,943.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CEO Thomas Deitrich sold 887 shares of the company's stock in a transaction on Monday, August 26th. The stock was sold at an average price of $102.15, for a total transaction of $90,607.05. Following the completion of the transaction, the chief executive officer now directly owns 205,276 shares in the company, valued at $20,968,943.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,276 shares of company stock valued at $4,515,846. Corporate insiders own 1.45% of the company's stock.

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.