Sanctuary Advisors LLC Grows Stake in Itron, Inc. (NASDAQ:ITRI)

Sanctuary Advisors LLC lifted its position in Itron, Inc. (NASDAQ:ITRI) by 454.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 13,862 shares of the scientific and technical instruments company’s stock after purchasing an additional 11,363 shares during the quarter. Sanctuary Advisors LLC’s holdings in Itron were worth $1,481,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Quarry LP increased its stake in Itron by 53.0% in the 2nd quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company’s stock worth $35,000 after acquiring an additional 122 shares during the last quarter. Continuum Advisory LLC increased its position in shares of Itron by 42.1% in the third quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company’s stock worth $40,000 after purchasing an additional 102 shares during the last quarter. Covestor Ltd raised its stake in Itron by 26.1% in the third quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock valued at $57,000 after purchasing an additional 111 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Itron by 21.7% during the third quarter. Farther Finance Advisors LLC now owns 724 shares of the scientific and technical instruments company’s stock valued at $77,000 after purchasing an additional 129 shares during the last quarter. Finally, Truvestments Capital LLC purchased a new position in Itron in the 3rd quarter worth approximately $103,000. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Itron Stock Up 1.0 %

Shares of Itron stock opened at $109.02 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36. Itron, Inc. has a 52-week low of $67.21 and a 52-week high of $124.90. The company’s 50 day moving average price is $113.20 and its 200-day moving average price is $105.94. The stock has a market capitalization of $4.92 billion, a price-to-earnings ratio of 22.34, a P/E/G ratio of 0.86 and a beta of 1.46.

Itron (NASDAQ:ITRI) last announced its quarterly earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share (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 analyst estimates of $596.41 million. During the same quarter last year, the firm earned $0.98 EPS. The company’s revenue was up 9.8% on a year-over-year basis. Equities research analysts forecast that Itron, Inc. will post 5.33 EPS for the current year.

Insider Activity at Itron

In related news, CEO Thomas Deitrich sold 37,500 shares of the firm’s stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total value of $3,931,125.00. Following the completion of the sale, the chief executive officer now owns 205,276 shares of the company’s stock, valued at $21,519,083.08. This trade represents a 15.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.45% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ITRI. Robert W. Baird raised their price objective on shares of Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Piper Sandler raised their price target on Itron from $110.00 to $119.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Janney Montgomery Scott began coverage on Itron in a report on Friday, September 27th. They issued a “buy” rating and a $131.00 price objective for the company. Guggenheim raised their price objective on Itron from $128.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Finally, BNP Paribas assumed coverage on Itron in a research note on Thursday, September 5th. They issued an “outperform” rating and a $133.00 target price for the company. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.92.

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.