Creative Planning Increases Stake in Itron, Inc. (NASDAQ:ITRI)

Creative Planning boosted its stake in Itron, Inc. (NASDAQ:ITRI) by 17.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,677 shares of the scientific and technical instruments company’s stock after purchasing an additional 2,284 shares during the quarter. Creative Planning’s holdings in Itron were worth $1,674,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hexagon Capital Partners LLC grew its stake in shares of Itron by 85.6% during the 2nd quarter. Hexagon Capital Partners LLC now owns 271 shares of the scientific and technical instruments company’s stock valued at $27,000 after buying an additional 125 shares during the period. Quarry LP boosted its holdings in Itron by 53.0% in the second 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. GAMMA Investing LLC grew its position in Itron by 46.6% during the second quarter. GAMMA Investing LLC now owns 720 shares of the scientific and technical instruments company’s stock valued at $71,000 after acquiring an additional 229 shares during the period. CWM LLC increased its stake in Itron by 315.6% during the second quarter. CWM LLC now owns 881 shares of the scientific and technical instruments company’s stock worth $87,000 after acquiring an additional 669 shares during the last quarter. Finally, Daiwa Securities Group Inc. purchased a new position in shares of Itron in the 2nd quarter worth about $129,000. Institutional investors and hedge funds own 96.19% of the company’s stock.

Itron Price Performance

Shares of NASDAQ ITRI opened at $104.35 on Wednesday. The company has a quick ratio of 2.61, a current ratio of 3.16 and a debt-to-equity ratio of 0.98. Itron, Inc. has a fifty-two week low of $56.11 and a fifty-two week high of $113.07. The business has a 50 day moving average price of $103.22 and a two-hundred day moving average price of $102.25. The firm has a market cap of $4.79 billion, a PE ratio of 29.93, a price-to-earnings-growth ratio of 0.85 and a beta of 1.47.

Itron (NASDAQ:ITRI) last released its quarterly earnings results on Thursday, August 1st. The scientific and technical instruments company reported $1.21 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $599.25 million. During the same quarter last year, the company earned $0.65 earnings per share. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. Sell-side analysts expect that Itron, Inc. will post 4.58 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Donald L. Reeves III sold 4,210 shares of Itron stock in a transaction dated Thursday, August 22nd. The stock was 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Itron news, SVP Donald L. Reeves III sold 4,210 shares of Itron 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 owns 16,269 shares of the company’s stock, valued at $1,643,169. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Thomas Deitrich sold 887 shares of the business’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 of the company’s stock, valued at approximately $20,968,943.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 43,276 shares of company stock worth $4,515,846. 1.45% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ITRI shares. Roth Mkm reiterated a “buy” rating and set a $125.00 target price on shares of Itron in a report on Wednesday, August 21st. Guggenheim raised shares of Itron from a “neutral” rating to a “buy” rating and set a $130.00 price objective for the company in a research report on Thursday, July 11th. TD Cowen lifted their target price on shares of Itron from $115.00 to $125.00 and gave the company a “buy” rating in a report on Friday, August 2nd. BNP Paribas assumed coverage on shares of Itron in a research report on Thursday, September 5th. They set an “outperform” rating and a $133.00 price target for the company. Finally, Oppenheimer raised their price objective on Itron from $110.00 to $112.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $119.67.

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.