Crossmark Global Holdings Inc. Raises Position in Itron, Inc. (NASDAQ:ITRI)

Crossmark Global Holdings Inc. lifted its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 14.3% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 5,769 shares of the scientific and technical instruments company’s stock after buying an additional 723 shares during the period. Crossmark Global Holdings Inc.’s holdings in Itron were worth $616,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the stock. Covestor Ltd boosted its holdings in 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 acquiring an additional 111 shares during the last quarter. Quarry LP lifted its position in shares of Itron by 53.0% during the second quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company’s stock valued at $35,000 after purchasing an additional 122 shares in the last quarter. Hexagon Capital Partners LLC boosted its holdings in Itron by 85.6% during the second quarter. Hexagon Capital Partners LLC now owns 271 shares of the scientific and technical instruments company’s stock worth $27,000 after purchasing an additional 125 shares during the last quarter. Farther Finance Advisors LLC grew its position 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 purchasing an additional 129 shares in the last quarter. Finally, Xponance Inc. increased its stake 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 last quarter. Institutional investors own 96.19% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ITRI shares. BNP Paribas initiated coverage on Itron in a report on Thursday, September 5th. They issued an “outperform” rating and a $133.00 target price for the company. Stephens restated an “equal weight” rating and issued a $110.00 price objective on shares of Itron in a research note on Monday, August 5th. Janney Montgomery Scott assumed coverage on Itron in a research note on Friday, September 27th. They set a “buy” rating and a $131.00 target price on the stock. Piper Sandler raised their price objective on shares of Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Guggenheim boosted their target price on shares of Itron from $128.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $123.92.

Itron Trading Down 2.3 %

Shares of ITRI stock opened at $114.90 on Friday. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 0.89 and a beta of 1.46. The company’s fifty day simple moving average is $107.85 and its two-hundred day simple moving average is $104.45. Itron, Inc. has a 1 year low of $64.96 and a 1 year high of $124.90. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83.

Itron (NASDAQ:ITRI) last released its quarterly earnings data on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share (EPS) 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 company had revenue of $615.46 million for the quarter, compared to analyst estimates of $596.41 million. During the same period in the previous year, the company posted $0.98 EPS. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, analysts anticipate that Itron, Inc. will post 5.33 earnings per share for the current year.

Insider Transactions at Itron

In related news, CEO Thomas Deitrich sold 887 shares of Itron 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 sale, the chief executive officer now owns 205,276 shares of the company’s stock, valued at approximately $20,968,943.40. This trade represents a 0.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Donald L. Reeves III sold 4,210 shares of the business’s stock in a transaction dated 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 20.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 43,276 shares of company stock valued at $4,517,947. 1.45% of the stock is currently owned by corporate insiders.

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.