Point72 Asset Management L.P. Invests $671,000 in Itron, Inc. (NASDAQ:ITRI)

Point72 Asset Management L.P. bought a new stake in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 6,283 shares of the scientific and technical instruments company's stock, valued at approximately $671,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of ITRI. Quarry LP lifted its holdings 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 acquiring an additional 122 shares during the last quarter. Covestor Ltd lifted its stake in shares of Itron by 26.1% in 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. Farther Finance Advisors LLC boosted its holdings in shares of Itron by 21.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 724 shares of the scientific and technical instruments company's stock worth $77,000 after purchasing an additional 129 shares during the period. CWM LLC increased its position in shares of Itron by 315.6% during the 2nd quarter. CWM LLC now owns 881 shares of the scientific and technical instruments company's stock valued at $87,000 after purchasing an additional 669 shares during the last quarter. Finally, Truvestments Capital LLC purchased a new stake in Itron during the 3rd quarter valued at $103,000. 96.19% of the stock is currently owned by institutional investors.

Itron Stock Down 2.0 %

Shares of ITRI traded down $2.32 during midday trading on Thursday, reaching $111.97. 407,898 shares of the stock were exchanged, compared to its average volume of 515,424. The company has a market capitalization of $5.05 billion, a P/E ratio of 22.94, a PEG ratio of 0.87 and a beta of 1.46. 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, Inc. has a 52 week low of $67.21 and a 52 week high of $124.90. The company's 50 day moving average is $112.75 and its two-hundred day moving average is $105.85.

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 the consensus estimate 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 analysts' expectations of $596.41 million. During the same period in the prior year, the business earned $0.98 EPS. The firm's quarterly revenue was up 9.8% on a year-over-year basis. On average, sell-side analysts anticipate that Itron, Inc. will post 5.33 earnings per share for the current year.

Insider Activity at Itron

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 transaction, the chief executive officer now directly owns 205,276 shares in the company, valued at approximately $21,519,083.08. The trade was a 15.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.45% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ITRI has been the subject of several recent analyst reports. Oppenheimer lifted their price objective on shares of Itron from $120.00 to $124.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Piper Sandler upped their price target on shares of Itron from $110.00 to $119.00 and gave the company a "neutral" rating in a report on Friday, November 1st. Roth Mkm raised their price objective on shares of Itron from $125.00 to $130.00 and gave the stock a "buy" rating in a research note 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 research note on Wednesday, November 6th. Finally, Robert W. Baird raised their price target on Itron from $123.00 to $132.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat, Itron currently has an average rating of "Moderate Buy" and a consensus price target of $123.92.

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.