Skandinaviska Enskilda Banken AB publ Increases Position in Itron, Inc. (NASDAQ:ITRI)

Skandinaviska Enskilda Banken AB publ raised its position in Itron, Inc. (NASDAQ:ITRI) by 97.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,207 shares of the scientific and technical instruments company’s stock after purchasing an additional 5,047 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Itron were worth $1,012,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Itron by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 5,701,337 shares of the scientific and technical instruments company’s stock valued at $527,488,000 after purchasing an additional 45,909 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of Itron by 2.2% in the 1st quarter. Janus Henderson Group PLC now owns 542,943 shares of the scientific and technical instruments company’s stock valued at $50,233,000 after buying an additional 11,918 shares during the last quarter. Silvercrest Asset Management Group LLC purchased a new position in shares of Itron in the 1st quarter valued at $401,000. Norges Bank purchased a new position in shares of Itron in the 4th quarter valued at $24,504,000. Finally, Renaissance Technologies LLC grew its position in shares of Itron by 72.5% in the 2nd quarter. Renaissance Technologies LLC now owns 309,761 shares of the scientific and technical instruments company’s stock valued at $30,654,000 after buying an additional 130,200 shares during the last quarter. 96.19% of the stock is owned by hedge funds and other institutional investors.

Itron Stock Up 0.0 %

ITRI stock opened at $107.23 on Tuesday. Itron, Inc. has a one year low of $56.11 and a one year high of $113.07. The stock has a market capitalization of $4.92 billion, a PE ratio of 30.81, a price-to-earnings-growth ratio of 0.84 and a beta of 1.47. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.61 and a current ratio of 3.16. The company has a fifty day moving average of $100.89 and a 200-day moving average of $99.60.

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

Insider Activity

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

Analyst Ratings Changes

ITRI has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. increased their target price on shares of Itron from $104.00 to $112.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Roth Mkm reaffirmed a “buy” rating and issued a $125.00 target price on shares of Itron in a research report on Wednesday, August 21st. Canaccord Genuity Group increased their target price on shares of Itron from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. TD Cowen increased their price target on shares of Itron from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Finally, BNP Paribas initiated coverage on shares of Itron in a research note on Thursday, September 5th. They set an “outperform” rating and a $133.00 price target for the company. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $118.64.

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.