Zurcher Kantonalbank Zurich Cantonalbank Purchases 16,133 Shares of Itron, Inc. (NASDAQ:ITRI)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Itron, Inc. (NASDAQ:ITRI - Free Report) by 9.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 187,219 shares of the scientific and technical instruments company's stock after acquiring an additional 16,133 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.42% of Itron worth $19,997,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Handelsbanken Fonder AB lifted its stake in shares of Itron by 62.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 899,789 shares of the scientific and technical instruments company's stock worth $96,106,000 after purchasing an additional 346,615 shares during the period. Select Equity Group L.P. increased its stake in Itron by 86.2% in the second quarter. Select Equity Group L.P. now owns 603,877 shares of the scientific and technical instruments company's stock valued at $59,760,000 after purchasing an additional 279,629 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in Itron by 90.7% during the third quarter. Assenagon Asset Management S.A. now owns 511,734 shares of the scientific and technical instruments company's stock worth $54,658,000 after buying an additional 243,355 shares during the period. Hood River Capital Management LLC acquired a new stake in Itron in the 2nd quarter worth about $22,612,000. Finally, Driehaus Capital Management LLC purchased a new stake in Itron in the 2nd quarter valued at about $18,758,000. Institutional investors and hedge funds own 96.19% of the company's stock.

Analyst Ratings Changes

Several research firms recently issued reports on ITRI. Piper Sandler raised their target price on shares of Itron from $110.00 to $119.00 and gave the stock a "neutral" rating in a research report on Friday, November 1st. BNP Paribas initiated coverage on shares of Itron in a research note on Thursday, September 5th. They set an "outperform" rating and a $133.00 price objective for the company. Stephens reiterated an "equal weight" rating and issued a $110.00 target price on shares of Itron in a report on Monday, August 5th. TD Cowen upped 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. Finally, Robert W. Baird lifted 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. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, Itron currently has an average rating of "Moderate Buy" and a consensus price target of $123.92.

Insider Buying and Selling at Itron

In other news, CEO Thomas Deitrich sold 37,500 shares of the 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 approximately $21,519,083.08. This represents a 15.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.45% of the company's stock.

Itron Stock Down 0.6 %

Shares of NASDAQ ITRI traded down $0.76 during trading on Friday, reaching $118.53. 209,181 shares of the stock were exchanged, compared to its average volume of 519,376. The company has a market capitalization of $5.34 billion, a price-to-earnings ratio of 24.29, a price-to-earnings-growth ratio of 0.90 and a beta of 1.46. The business's 50-day moving average price is $110.92 and its 200 day moving average price is $105.40. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. Itron, Inc. has a twelve month low of $65.81 and a twelve month high of $124.90.

Itron (NASDAQ:ITRI - Get Free Report) last posted its earnings results 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 company had revenue of $615.46 million for the quarter, compared to analyst estimates of $596.41 million. Itron had a return on equity of 19.03% and a net margin of 9.37%. The business's revenue was up 9.8% compared to the same quarter last year. During the same period last year, the company earned $0.98 earnings per share. As a group, equities analysts forecast that Itron, Inc. will post 5.33 EPS for the current fiscal year.

About Itron

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.