Jennison Associates LLC Grows Position in Itron, Inc. (NASDAQ:ITRI)

Jennison Associates LLC increased its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 5.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 13,650 shares of the scientific and technical instruments company’s stock after acquiring an additional 673 shares during the quarter. Jennison Associates LLC’s holdings in Itron were worth $1,458,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ITRI. Hexagon Capital Partners LLC grew its position in shares of 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 valued at $27,000 after purchasing an additional 125 shares in the last quarter. Quarry LP grew its holdings in Itron by 53.0% during the 2nd quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company’s stock valued at $35,000 after buying an additional 122 shares in the last quarter. Covestor Ltd increased its stake in Itron by 26.1% in 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. GAMMA Investing LLC raised its holdings 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 in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of 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 last quarter. 96.19% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Itron news, CFO Joan S. Hooper sold 509 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $102.15, for a total transaction of $51,994.35. Following the transaction, the chief financial officer now 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Thomas Deitrich sold 887 shares of the company’s stock in a transaction that occurred 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 directly owns 205,276 shares of the company’s stock, valued at $20,968,943.40. The trade was a 0.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 39,066 shares of company stock worth $4,092,737 in the last ninety days. 1.45% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ITRI shares. TD Cowen upped their price target on shares of Itron from $125.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Robert W. Baird increased their price target on shares of Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Stephens reiterated an “equal weight” rating and issued a $110.00 price target on shares of Itron in a research report on Monday, August 5th. 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 on the stock. Finally, Roth Mkm lifted their target price on Itron from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $123.92.

Itron Stock Up 2.2 %

Shares of ITRI opened at $118.93 on Friday. The firm has a fifty day moving average price of $109.53 and a 200-day moving average price of $105.02. 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 firm has a market capitalization of $5.36 billion, a P/E ratio of 24.37, a P/E/G ratio of 0.87 and a beta of 1.46. Itron, Inc. has a 12-month low of $65.42 and a 12-month high of $124.90.

Itron (NASDAQ:ITRI) last issued its earnings results 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. Itron had a net margin of 9.37% and a return on equity of 19.03%. The business had revenue of $615.46 million for the quarter, compared to the consensus estimate of $596.41 million. During the same period in the prior year, the firm earned $0.98 EPS. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. Equities research analysts expect that Itron, Inc. will post 5.33 earnings per share for the current year.

Itron Company 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.