Quadrature Capital Ltd lessened its stake in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 76.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,132 shares of the scientific and technical instruments company's stock after selling 36,245 shares during the period. Quadrature Capital Ltd's holdings in Itron were worth $1,189,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of ITRI. Sculptor Capital LP bought a new stake in Itron during the 2nd quarter valued at $5,255,000. Assenagon Asset Management S.A. increased its stake in shares of Itron by 7.8% during the second quarter. Assenagon Asset Management S.A. now owns 268,379 shares of the scientific and technical instruments company's stock valued at $26,559,000 after buying an additional 19,387 shares during the period. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Itron by 97.8% in the second quarter. Skandinaviska Enskilda Banken AB publ now owns 10,207 shares of the scientific and technical instruments company's stock valued at $1,012,000 after acquiring an additional 5,047 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in Itron in the second quarter worth about $18,758,000. Finally, Intech Investment Management LLC lifted its stake in Itron by 105.9% in the third quarter. Intech Investment Management LLC now owns 19,444 shares of the scientific and technical instruments company's stock worth $2,077,000 after acquiring an additional 10,001 shares during the period. Hedge funds and other institutional investors own 96.19% of the company's stock.
Insiders Place Their Bets
In other Itron news, CEO Thomas Deitrich sold 37,500 shares of the stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total transaction of $3,931,125.00. Following the sale, the chief executive officer now directly owns 205,276 shares of the company's stock, valued at approximately $21,519,083.08. This trade represents a 15.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.45% of the stock is currently owned by insiders.
Itron Stock Performance
Shares of ITRI traded up $0.12 during trading hours on Friday, reaching $115.92. 347,476 shares of the company traded hands, compared to its average volume of 394,202. 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 has a fifty day moving average price of $112.09 and a 200-day moving average price of $105.69. Itron, Inc. has a 12-month low of $67.21 and a 12-month high of $124.90. The stock has a market capitalization of $5.23 billion, a P/E ratio of 23.75, a P/E/G ratio of 0.89 and a beta of 1.46.
Itron (NASDAQ:ITRI - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share for the quarter, beating analysts' consensus estimates of $1.13 by $0.71. Itron had a return on equity of 19.03% and a net margin of 9.37%. The business had revenue of $615.46 million for the quarter, compared to analyst estimates of $596.41 million. During the same period in the prior year, the company earned $0.98 earnings per share. The company's revenue was up 9.8% on a year-over-year basis. Equities analysts anticipate that Itron, Inc. will post 5.33 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of research firms have commented on ITRI. Roth Mkm boosted their price target on shares of Itron from $125.00 to $130.00 and gave the company a "buy" rating in a report on Friday, November 1st. Robert W. Baird boosted their price objective on shares of Itron from $123.00 to $132.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. TD Cowen increased their target price on Itron from $125.00 to $136.00 and gave the company a "buy" rating in a research 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 report on Friday, November 1st. Finally, Guggenheim raised their price objective on Itron from $128.00 to $135.00 and gave the company a "buy" rating in a research report on Wednesday, November 6th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $123.92.
View Our Latest Analysis on ITRI
Itron Profile
(
Free Report)
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.
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