Quest Partners LLC Increases Stock Position in Itron, Inc. (NASDAQ:ITRI)

Quest Partners LLC lifted its position in shares of Itron, Inc. (NASDAQ:ITRI) by 35.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,386 shares of the scientific and technical instruments company’s stock after acquiring an additional 2,481 shares during the quarter. Quest Partners LLC’s holdings in Itron were worth $1,003,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. Saturna Capital Corp boosted its stake in shares of Itron by 6.1% during the 3rd quarter. Saturna Capital Corp now owns 7,213 shares of the scientific and technical instruments company’s stock worth $770,000 after acquiring an additional 413 shares in the last quarter. Victory Capital Management Inc. boosted its stake in shares of Itron by 41.6% during the 3rd quarter. Victory Capital Management Inc. now owns 283,728 shares of the scientific and technical instruments company’s stock worth $30,305,000 after acquiring an additional 83,328 shares in the last quarter. Entropy Technologies LP purchased a new stake in shares of Itron during the 3rd quarter worth approximately $502,000. Chartwell Investment Partners LLC purchased a new stake in shares of Itron during the 3rd quarter worth approximately $1,891,000. Finally, Peregrine Asset Advisers Inc. boosted its stake in shares of Itron by 1.8% during the 3rd quarter. Peregrine Asset Advisers Inc. now owns 21,664 shares of the scientific and technical instruments company’s stock worth $2,314,000 after acquiring an additional 393 shares in the last quarter. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Itron Trading Down 0.8 %

ITRI stock opened at $114.11 on Thursday. The company has a market cap of $5.15 billion, a price-to-earnings ratio of 23.38, a PEG ratio of 0.86 and a beta of 1.46. 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 simple moving average of $108.87 and a 200-day simple moving average of $104.86. Itron, Inc. has a 52 week low of $64.96 and a 52 week high of $124.90.

Itron (NASDAQ:ITRI) last released its quarterly earnings data on Thursday, October 31st. The scientific and technical instruments company reported $1.84 EPS for the quarter, topping analysts’ consensus estimates 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%. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.98 EPS. On average, equities research analysts expect that Itron, Inc. will post 5.33 EPS for the current year.

Analysts Set New Price Targets

Several brokerages have recently commented on ITRI. Guggenheim boosted their price target on Itron from $128.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Piper Sandler lifted their price objective on Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. TD Cowen lifted their price objective on Itron from $125.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. BNP Paribas assumed coverage on Itron in a research report on Thursday, September 5th. They set an “outperform” rating and a $133.00 price objective for the company. Finally, Stephens restated an “equal weight” rating and set a $110.00 price objective on shares of Itron in a research report on Monday, August 5th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $123.92.

Insider Buying and Selling

In related news, CEO Thomas Deitrich sold 37,500 shares of the company’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $104.83, for a total transaction 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Joan S. Hooper sold 509 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $102.15, for a total transaction of $51,994.35. Following the sale, the chief financial officer now directly owns 72,338 shares of the company’s stock, valued at approximately $7,389,326.70. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 39,066 shares of company stock valued at $4,092,737. Company insiders own 1.45% of the company’s stock.

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.