Amalgamated Bank Cuts Position in Itron, Inc. (NASDAQ:ITRI)

Amalgamated Bank cut its holdings in shares of Itron, Inc. (NASDAQ:ITRI) by 5.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 13,301 shares of the scientific and technical instruments company’s stock after selling 704 shares during the quarter. Amalgamated Bank’s holdings in Itron were worth $1,421,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Silvercrest Asset Management Group LLC purchased a new stake in shares of Itron in the first quarter valued at about $401,000. Handelsbanken Fonder AB raised its position 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 last quarter. Select Equity Group L.P. lifted its position in shares of 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 acquiring an additional 279,629 shares in the last quarter. Assenagon Asset Management S.A. boosted 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 acquiring an additional 243,355 shares during the last quarter. Finally, Hood River Capital Management LLC purchased a new stake in shares of Itron in the second quarter valued at $22,612,000. 96.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Donald L. Reeves III sold 4,210 shares of the stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total transaction of $425,210.00. Following the sale, the senior vice president now directly owns 16,269 shares of the company’s stock, valued at $1,643,169. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Itron news, CEO Thomas Deitrich sold 37,500 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was 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. The trade was a 0.00 % 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 company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total transaction of $425,210.00. Following the transaction, the senior vice president now owns 16,269 shares in the company, valued at approximately $1,643,169. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,276 shares of company stock worth $4,517,947. 1.45% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ITRI shares. Stephens reissued an “equal weight” rating and set a $110.00 target price on shares of Itron in a research report on Monday, August 5th. Roth Mkm upped their target price on Itron from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Janney Montgomery Scott assumed coverage on shares of Itron in a research report on Friday, September 27th. They set a “buy” rating and a $131.00 price target on the stock. TD Cowen raised their price target on shares of Itron from $125.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Guggenheim boosted their price objective on Itron from $128.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $123.92.

Itron Price Performance

Shares of Itron stock opened at $119.27 on Thursday. The stock has a market capitalization of $5.38 billion, a price-to-earnings ratio of 24.44, a P/E/G ratio of 0.91 and a beta of 1.46. The firm’s 50-day moving average price is $107.11 and its two-hundred day moving average price is $104.22. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91. Itron, Inc. has a 1-year low of $64.55 and a 1-year high of $124.90.

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, topping 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 business had revenue of $615.46 million for the quarter, compared to analyst estimates of $596.41 million. During the same period in the prior year, the company earned $0.98 EPS. Itron’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities analysts predict that Itron, Inc. will post 5.33 earnings per share for the current fiscal 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.