The Manufacturers Life Insurance Company Buys 571 Shares of Itron, Inc. (NASDAQ:ITRI)

The Manufacturers Life Insurance Company raised its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 2.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,231 shares of the scientific and technical instruments company’s stock after purchasing an additional 571 shares during the quarter. The Manufacturers Life Insurance Company owned 0.06% of Itron worth $2,802,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quarry LP raised its position in shares of 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 buying an additional 122 shares in the last quarter. Covestor Ltd increased its stake in Itron by 26.1% in the third 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. Farther Finance Advisors LLC raised its position in 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 valued at $77,000 after purchasing an additional 129 shares in the last quarter. CWM LLC lifted 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 purchasing an additional 669 shares during the last quarter. Finally, Truvestments Capital LLC purchased a new position in shares of Itron in the 3rd quarter worth about $103,000. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Itron Trading Up 0.1 %

NASDAQ ITRI opened at $115.92 on Monday. The stock has a market cap of $5.23 billion, a P/E ratio of 23.75, a price-to-earnings-growth ratio of 0.89 and a beta of 1.46. Itron, Inc. has a fifty-two week low of $67.21 and a fifty-two week high of $124.90. The stock has a 50 day simple moving average of $112.09 and a two-hundred day simple moving average of $105.67. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36.

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

Analyst Ratings Changes

A number of analysts recently weighed in on the company. Robert W. Baird boosted their target price on Itron from $123.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Guggenheim boosted their price objective on shares of Itron from $128.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Oppenheimer upped their price objective on shares of Itron from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. TD Cowen lifted their target price on shares of Itron from $125.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, BNP Paribas started 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. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Itron presently has an average rating of “Moderate Buy” and a consensus price target of $123.92.

Insider Activity

In other news, CEO Thomas Deitrich sold 37,500 shares of the firm’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 owns 205,276 shares in the company, valued at $21,519,083.08. This trade represents a 15.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.