Itron, Inc. (NASDAQ:ITRI) Stake Cut by Advisors Asset Management Inc.

Advisors Asset Management Inc. trimmed its stake in Itron, Inc. (NASDAQ:ITRI) by 16.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 27,619 shares of the scientific and technical instruments company’s stock after selling 5,587 shares during the quarter. Advisors Asset Management Inc. owned 0.06% of Itron worth $2,950,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in ITRI. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Itron by 67.7% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 40,742 shares of the scientific and technical instruments company’s stock worth $4,352,000 after buying an additional 16,447 shares during the last quarter. Jennison Associates LLC boosted its position in Itron by 5.2% during the third quarter. Jennison Associates LLC now owns 13,650 shares of the scientific and technical instruments company’s stock worth $1,458,000 after purchasing an additional 673 shares during the period. Quest Partners LLC grew its holdings in Itron by 35.9% during the third quarter. Quest Partners LLC now owns 9,386 shares of the scientific and technical instruments company’s stock valued at $1,003,000 after purchasing an additional 2,481 shares during the last quarter. Saturna Capital Corp raised its position in shares of Itron by 6.1% in the third quarter. Saturna Capital Corp now owns 7,213 shares of the scientific and technical instruments company’s stock valued at $770,000 after purchasing an additional 413 shares during the period. Finally, Victory Capital Management Inc. boosted its holdings 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 buying an additional 83,328 shares during the period. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ITRI. Roth Mkm upped their price target on shares of Itron from $125.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 1st. TD Cowen lifted their price target 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 initiated coverage on Itron in a research report on Thursday, September 5th. They issued an “outperform” rating and a $133.00 price objective for the company. Piper Sandler lifted their target price on Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Guggenheim boosted their price target on shares of Itron from $128.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $123.92.

Itron Stock Up 2.2 %

Shares of NASDAQ:ITRI opened at $118.93 on Friday. Itron, Inc. has a 12 month low of $65.42 and a 12 month high of $124.90. The company’s 50-day moving average price is $109.53 and its two-hundred day moving average price is $105.02. The firm has a market cap 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. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91.

Itron (NASDAQ:ITRI) last posted its quarterly earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analysts’ expectations of $596.41 million. During the same quarter last year, the business earned $0.98 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, research analysts forecast that Itron, Inc. will post 5.33 EPS for the current fiscal year.

Insider Activity at Itron

In other news, CEO Thomas Deitrich sold 887 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $102.15, for a total value of $90,607.05. Following the transaction, the chief executive officer now owns 205,276 shares of the company’s stock, valued at $20,968,943.40. This represents a 0.43 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Joan S. Hooper sold 509 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 value 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. Insiders have sold 39,066 shares of company stock worth $4,092,737 over the last ninety days. Company insiders own 1.45% of the company’s stock.

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.