Sanctuary Advisors LLC Increases Position in Itron, Inc. (NASDAQ:ITRI)

Sanctuary Advisors LLC grew its position in Itron, Inc. (NASDAQ:ITRI - Free Report) by 454.7% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,862 shares of the scientific and technical instruments company's stock after acquiring an additional 11,363 shares during the period. Sanctuary Advisors LLC's holdings in Itron were worth $1,481,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Continuum Advisory LLC raised its position in Itron by 42.1% during the third quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company's stock worth $40,000 after acquiring an additional 102 shares during the period. Quarry LP raised its position in shares of Itron by 53.0% during the 2nd quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company's stock worth $35,000 after purchasing an additional 122 shares during the last quarter. Covestor Ltd raised its position 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 worth $57,000 after purchasing an additional 111 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in 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 buying an additional 129 shares during the last quarter. Finally, Truvestments Capital LLC purchased a new stake in Itron during the 3rd quarter worth approximately $103,000. 96.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ITRI shares. TD Cowen lifted their price target on Itron from $125.00 to $136.00 and gave the stock a "buy" rating in a research note on Friday, November 1st. Roth Mkm boosted their price objective on shares of Itron from $125.00 to $130.00 and gave the company a "buy" rating in a report on Friday, November 1st. Oppenheimer upped their price target on Itron from $120.00 to $124.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Guggenheim lifted their price objective on shares of Itron from $128.00 to $135.00 and gave the company a "buy" rating in a report on Wednesday, November 6th. Finally, BNP Paribas began coverage on Itron in a research report on Thursday, September 5th. They set an "outperform" rating and a $133.00 price objective on the stock. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $123.92.

Itron Stock Up 1.0 %

ITRI stock traded up $1.03 during trading on Friday, hitting $109.02. 1,382,951 shares of the company's stock were exchanged, compared to its average volume of 517,293. The business has a 50-day moving average price of $113.20 and a two-hundred day moving average price of $105.94. Itron, Inc. has a 52-week low of $67.21 and a 52-week high of $124.90. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $4.92 billion, a price-to-earnings ratio of 22.34, a PEG ratio of 0.86 and a beta of 1.46.

Itron (NASDAQ:ITRI - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.71. The business had revenue of $615.46 million during the quarter, compared to the consensus estimate of $596.41 million. Itron had a return on equity of 19.03% and a net margin of 9.37%. During the same period in the prior year, the company earned $0.98 earnings per share. The company's revenue was up 9.8% compared to the same quarter last year. As a group, equities research analysts expect that Itron, Inc. will post 5.33 EPS for the current year.

Insider Activity at Itron

In other news, CEO Thomas Deitrich sold 37,500 shares of the firm's stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 205,276 shares of the company's stock, valued at $21,519,083.08. This trade represents a 15.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 1.45% of the stock is owned by insiders.

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.