DekaBank Deutsche Girozentrale Raises Holdings in Itron, Inc. (NASDAQ:ITRI)

DekaBank Deutsche Girozentrale increased its holdings in Itron, Inc. (NASDAQ:ITRI) by 186.0% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,128 shares of the scientific and technical instruments company’s stock after buying an additional 1,384 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Itron were worth $213,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Oppenheimer & Co. Inc. raised its position in shares of Itron by 35.6% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 20,382 shares of the scientific and technical instruments company’s stock worth $2,017,000 after acquiring an additional 5,352 shares in the last quarter. ClariVest Asset Management LLC grew its stake in Itron by 26.8% in the second quarter. ClariVest Asset Management LLC now owns 35,825 shares of the scientific and technical instruments company’s stock valued at $3,545,000 after purchasing an additional 7,561 shares during the last quarter. Brasada Capital Management LP bought a new position in Itron in the second quarter worth about $310,000. SIR Capital Management L.P. purchased a new stake in shares of Itron during the second quarter valued at about $930,000. Finally, Daiwa Securities Group Inc. bought a new stake in shares of Itron in the 2nd quarter valued at about $129,000. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Analyst Upgrades and Downgrades

ITRI has been the subject of several recent analyst reports. JPMorgan Chase & Co. boosted their price objective on shares of Itron from $104.00 to $112.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Canaccord Genuity Group increased their price objective on Itron from $115.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, June 20th. Piper Sandler boosted their target price on Itron from $109.00 to $110.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Stephens reiterated an “equal weight” rating and issued a $110.00 price target on shares of Itron in a research note on Monday, August 5th. Finally, BNP Paribas initiated coverage on Itron in a research note on Thursday, September 5th. They set an “outperform” rating and a $133.00 price target on the stock. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, Itron currently has a consensus rating of “Moderate Buy” and a consensus price target of $118.64.

Itron Stock Up 0.8 %

ITRI stock opened at $107.22 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.16 and a quick ratio of 2.61. The firm’s fifty day simple moving average is $100.85 and its 200-day simple moving average is $99.44. Itron, Inc. has a 12 month low of $56.11 and a 12 month high of $113.07. The company has a market capitalization of $4.92 billion, a P/E ratio of 30.81, a price-to-earnings-growth ratio of 0.84 and a beta of 1.47.

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, topping the consensus estimate of $0.96 by $0.25. The company had revenue of $609.07 million for the quarter, compared to the consensus estimate of $599.25 million. Itron had a return on equity of 16.42% and a net margin of 7.98%. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period last year, the firm earned $0.65 EPS. As a group, equities research analysts forecast that Itron, Inc. will post 4.59 earnings per share for the current year.

Insider Activity at Itron

In other news, SVP Donald L. Reeves III sold 4,210 shares of the firm’s 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 owns 16,269 shares of the company’s stock, valued at approximately $1,643,169. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Donald L. Reeves III sold 4,210 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total value of $425,210.00. Following the completion of the transaction, the senior vice president now directly owns 16,269 shares in the company, valued at approximately $1,643,169. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Thomas Deitrich sold 887 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $102.15, for a total transaction of $90,607.05. Following the sale, the chief executive officer now owns 205,276 shares in the company, valued at approximately $20,968,943.40. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,776 shares of company stock worth $584,721. 1.45% of the stock is owned by corporate insiders.

Itron 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.