Atria Investments Inc Increases Stake in Itron, Inc. (NASDAQ:ITRI)

Atria Investments Inc increased its position in shares of Itron, Inc. (NASDAQ:ITRI) by 20.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,660 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,450 shares during the period. Atria Investments Inc’s holdings in Itron were worth $925,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Hexagon Capital Partners LLC lifted its stake in Itron by 85.6% in 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. Quarry LP raised its holdings in shares of Itron by 53.0% in the second quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company’s stock worth $35,000 after buying an additional 122 shares during the period. GAMMA Investing LLC lifted its stake in shares of Itron by 46.6% during the 2nd quarter. GAMMA Investing LLC now owns 720 shares of the scientific and technical instruments company’s stock worth $71,000 after acquiring an additional 229 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in Itron by 21.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 724 shares of the scientific and technical instruments company’s stock valued at $77,000 after acquiring an additional 129 shares during the period. Finally, CWM LLC grew its position in Itron by 315.6% in the 2nd quarter. CWM LLC now owns 881 shares of the scientific and technical instruments company’s stock valued at $87,000 after acquiring an additional 669 shares during the last quarter. 96.19% of the stock is currently owned by institutional investors.

Itron Trading Down 2.3 %

Shares of NASDAQ ITRI opened at $114.90 on Monday. Itron, Inc. has a 1-year low of $64.96 and a 1-year high of $124.90. The business has a fifty day moving average price of $107.85 and a 200 day moving average price of $104.63. The stock has a market capitalization of $5.18 billion, a P/E ratio of 23.55, a price-to-earnings-growth ratio of 0.86 and a beta of 1.46. 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 results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 EPS for the quarter, beating 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 business had revenue of $615.46 million during the quarter, compared to analyst estimates of $596.41 million. During the same period in the prior year, the firm posted $0.98 earnings per share. The company’s quarterly revenue was up 9.8% on a year-over-year basis. Equities research analysts expect that Itron, Inc. will post 5.33 EPS for the current fiscal year.

Insider Buying and Selling at Itron

In other Itron news, CEO Thomas Deitrich sold 887 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $102.15, for a total transaction of $90,607.05. Following the transaction, the chief executive officer now owns 205,276 shares in the company, valued at approximately $20,968,943.40. This represents a 0.43 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Donald L. Reeves III sold 4,210 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total transaction of $425,210.00. Following the completion of the transaction, the senior vice president now directly owns 16,269 shares of the company’s stock, valued at approximately $1,643,169. This represents a 20.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,276 shares of company stock worth $4,517,947 over the last three months. Corporate insiders own 1.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ITRI. Roth Mkm lifted their target price on Itron from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. TD Cowen lifted their price objective on shares of Itron from $125.00 to $136.00 and gave the company a “buy” rating in a report on Friday, November 1st. Janney Montgomery Scott initiated coverage on shares of Itron in a research note on Friday, September 27th. They issued a “buy” rating and a $131.00 target price on the stock. Stephens reaffirmed an “equal weight” rating and set a $110.00 price target on shares of Itron in a research note on Monday, August 5th. Finally, Oppenheimer increased their price objective on Itron from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $123.92.

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.