Daiwa Securities Group Inc. Buys 900 Shares of Itron, Inc. (NASDAQ:ITRI)

Daiwa Securities Group Inc. boosted its stake in Itron, Inc. (NASDAQ:ITRI) by 69.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,200 shares of the scientific and technical instruments company’s stock after purchasing an additional 900 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Itron were worth $235,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Hexagon Capital Partners LLC raised its stake in Itron by 85.6% during the second quarter. Hexagon Capital Partners LLC now owns 271 shares of the scientific and technical instruments company’s stock valued at $27,000 after purchasing an additional 125 shares in the last quarter. Quarry LP boosted its holdings in Itron by 53.0% during 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 period. Covestor Ltd grew its position in Itron by 26.1% in the 3rd quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock valued at $57,000 after acquiring an additional 111 shares during the last quarter. GAMMA Investing LLC increased its stake in Itron by 46.6% in the second quarter. GAMMA Investing LLC now owns 720 shares of the scientific and technical instruments company’s stock worth $71,000 after purchasing an additional 229 shares during the period. Finally, Farther Finance Advisors LLC lifted its position in shares of Itron by 21.7% during the third quarter. Farther Finance Advisors LLC now owns 724 shares of the scientific and technical instruments company’s stock worth $77,000 after purchasing an additional 129 shares during the last quarter. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Itron Stock Down 0.6 %

Itron stock opened at $118.53 on Monday. The business’s 50-day simple moving average is $110.92 and its two-hundred day simple moving average is $105.36. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36. The company has a market cap of $5.34 billion, a PE ratio of 24.29, a PEG ratio of 0.89 and a beta of 1.46. Itron, Inc. has a fifty-two week low of $65.81 and a fifty-two week high of $124.90.

Itron (NASDAQ:ITRI) last issued its earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.71. Itron had a return on equity of 19.03% and a net margin of 9.37%. The firm had revenue of $615.46 million for the quarter, compared to analyst estimates of $596.41 million. During the same quarter in the prior year, the firm earned $0.98 earnings per share. Itron’s revenue for the quarter was up 9.8% on a year-over-year basis. Equities analysts anticipate that Itron, Inc. will post 5.33 EPS for the current year.

Wall Street Analysts Forecast Growth

ITRI has been the topic of several recent analyst reports. Piper Sandler raised their price target on shares of Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Roth Mkm lifted their price target on Itron from $125.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 1st. Oppenheimer boosted their price target on Itron from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. TD Cowen raised their price objective on Itron from $125.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, Janney Montgomery Scott assumed coverage on shares of Itron in a report on Friday, September 27th. They issued a “buy” rating and a $131.00 target price for the company. 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $123.92.

Insider Transactions at Itron

In other Itron news, CEO Thomas Deitrich sold 37,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total value of $3,931,125.00. Following the completion of the transaction, the chief executive officer now directly owns 205,276 shares of the company’s stock, valued at approximately $21,519,083.08. The trade was a 15.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 1.45% of the company’s stock.

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.