Inspire Investing LLC Raises Stock Holdings in Itron, Inc. (NASDAQ:ITRI)

Inspire Investing LLC raised its stake in Itron, Inc. (NASDAQ:ITRI) by 166.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,970 shares of the scientific and technical instruments company’s stock after purchasing an additional 7,473 shares during the period. Inspire Investing LLC’s holdings in Itron were worth $1,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC grew its position in shares of Itron by 89.3% in the 4th quarter. Quadrant Capital Group LLC now owns 1,344 shares of the scientific and technical instruments company’s stock worth $101,000 after buying an additional 634 shares during the last quarter. Norges Bank purchased a new position in Itron in the fourth quarter worth $24,504,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Itron in the fourth quarter worth $81,000. UBS Group AG increased its position in shares of Itron by 126.3% during the fourth quarter. UBS Group AG now owns 84,301 shares of the scientific and technical instruments company’s stock worth $6,366,000 after purchasing an additional 47,056 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in shares of Itron by 0.4% during the 4th quarter. Clearbridge Investments LLC now owns 264,909 shares of the scientific and technical instruments company’s stock valued at $20,003,000 after purchasing an additional 1,179 shares during the last quarter. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Itron Price Performance

Shares of ITRI opened at $106.38 on Friday. The company has a market capitalization of $4.88 billion, a P/E ratio of 30.57, a P/E/G ratio of 0.84 and a beta of 1.47. The business’s 50-day moving average is $100.80 and its two-hundred day moving average is $99.34. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.61 and a current ratio of 3.16. Itron, Inc. has a fifty-two week low of $56.11 and a fifty-two week high of $113.07.

Itron (NASDAQ:ITRI) last announced its quarterly earnings results on Thursday, August 1st. The scientific and technical instruments company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $0.96 by $0.25. Itron had a return on equity of 16.42% and a net margin of 7.98%. The company had revenue of $609.07 million during the quarter, compared to analysts’ expectations of $599.25 million. During the same period last year, the business earned $0.65 earnings per share. Itron’s quarterly revenue was up 12.6% on a year-over-year basis. Research analysts predict that Itron, Inc. will post 4.59 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently weighed in on ITRI. Canaccord Genuity Group boosted their target price on Itron from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. Piper Sandler boosted their price target on Itron from $109.00 to $110.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. BNP Paribas began coverage on shares of Itron in a research report on Thursday, September 5th. They issued an “outperform” rating and a $133.00 price objective for the company. TD Cowen boosted their target price on shares of Itron from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, Stephens restated an “equal weight” rating and set a $110.00 price target on shares of Itron in a research note on Monday, August 5th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, Itron has an average rating of “Moderate Buy” and a consensus price target of $118.64.

Insider Activity

In related news, CFO Joan S. Hooper sold 509 shares of the stock in a transaction on Monday, August 26th. The shares were 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 $7,389,326.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Thomas Deitrich sold 887 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $102.15, for a total transaction of $90,607.05. Following the sale, the chief executive officer now directly owns 205,276 shares in the company, valued at approximately $20,968,943.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Joan S. Hooper sold 509 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $102.15, for a total value of $51,994.35. Following the completion of the transaction, the chief financial officer now directly owns 72,338 shares of the company’s stock, valued at approximately $7,389,326.70. The disclosure for this sale can be found here. Insiders sold a total of 5,776 shares of company stock valued at $584,721 in the last three months. 1.45% of the stock is currently owned by corporate insiders.

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.