Truist Financial Corp Raises Holdings in Itron, Inc. (NASDAQ:ITRI)

Truist Financial Corp raised its position in Itron, Inc. (NASDAQ:ITRI) by 27.5% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 3,475 shares of the scientific and technical instruments company’s stock after purchasing an additional 750 shares during the period. Truist Financial Corp’s holdings in Itron were worth $344,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in shares of Itron by 32.7% in the first quarter. GAMMA Investing LLC now owns 491 shares of the scientific and technical instruments company’s stock worth $45,000 after buying an additional 121 shares in the last quarter. Quarry LP raised its holdings in Itron by 53.0% in the 2nd quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company’s stock valued at $35,000 after acquiring an additional 122 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in Itron by 85.6% in the 2nd quarter. Hexagon Capital Partners LLC now owns 271 shares of the scientific and technical instruments company’s stock worth $27,000 after purchasing an additional 125 shares in the last quarter. Contravisory Investment Management Inc. boosted its holdings in shares of Itron by 61.5% during the 1st quarter. Contravisory Investment Management Inc. now owns 344 shares of the scientific and technical instruments company’s stock worth $32,000 after purchasing an additional 131 shares during the last quarter. Finally, Xponance Inc. grew its position in shares of Itron by 5.1% in the second quarter. Xponance Inc. now owns 2,910 shares of the scientific and technical instruments company’s stock valued at $288,000 after purchasing an additional 142 shares in the last quarter. Institutional investors and hedge funds own 96.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Oppenheimer lifted their price objective on Itron from $110.00 to $112.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Piper Sandler lifted their price target on Itron from $109.00 to $110.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Janney Montgomery Scott initiated coverage on shares of Itron in a report on Friday, September 27th. They issued a “buy” rating and a $131.00 price objective for the company. 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 target price on the stock. Finally, Guggenheim raised shares of Itron from a “neutral” rating to a “buy” rating and set a $130.00 price target for the company in a research note on Thursday, July 11th. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Itron has a consensus rating of “Moderate Buy” and a consensus price target of $119.67.

Itron Trading Down 0.8 %

Shares of NASDAQ ITRI opened at $104.19 on Friday. The company has a current ratio of 3.16, a quick ratio of 2.61 and a debt-to-equity ratio of 0.98. The stock has a market capitalization of $4.78 billion, a PE ratio of 29.94, a PEG ratio of 0.91 and a beta of 1.47. Itron, Inc. has a twelve month low of $56.11 and a twelve month high of $113.07. The stock has a fifty day simple moving average of $102.50 and a 200-day simple moving average of $101.60.

Itron (NASDAQ:ITRI) last issued its quarterly earnings results on Thursday, August 1st. The scientific and technical instruments company reported $1.21 earnings per share (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 business had revenue of $609.07 million for the quarter, compared to analysts’ expectations of $599.25 million. During the same quarter in the prior year, the company earned $0.65 earnings per share. The business’s quarterly revenue was up 12.6% on a year-over-year basis. On average, equities analysts forecast that Itron, Inc. will post 4.58 earnings per share for the current year.

Insider Transactions at Itron

In other news, 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 value 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Itron news, CEO Thomas Deitrich sold 887 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $102.15, for a total value of $90,607.05. Following the transaction, the chief executive officer now directly owns 205,276 shares in the company, valued at $20,968,943.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 completion of the transaction, the chief financial officer now directly owns 72,338 shares in the company, valued at $7,389,326.70. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,276 shares of company stock valued at $4,515,846. 1.45% of the stock is currently owned by corporate insiders.

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.