Renaissance Technologies LLC Has $30.65 Million Stock Holdings in Itron, Inc. (NASDAQ:ITRI)

Renaissance Technologies LLC boosted its holdings in shares of Itron, Inc. (NASDAQ:ITRI) by 72.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 309,761 shares of the scientific and technical instruments company’s stock after buying an additional 130,200 shares during the period. Renaissance Technologies LLC owned approximately 0.68% of Itron worth $30,654,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of ITRI. Silvercrest Asset Management Group LLC acquired a new position in Itron during the first quarter worth $401,000. Norges Bank purchased a new stake in shares of Itron in the fourth quarter valued at about $24,504,000. Victory Capital Management Inc. raised its holdings in shares of Itron by 1,331.3% in the second quarter. Victory Capital Management Inc. now owns 200,400 shares of the scientific and technical instruments company’s stock valued at $19,832,000 after purchasing an additional 186,399 shares during the last quarter. Kingdon Capital Management L.L.C. purchased a new stake in shares of Itron in the first quarter valued at about $7,170,000. Finally, Quadrature Capital Ltd purchased a new stake in shares of Itron in the first quarter valued at about $5,718,000. Institutional investors and hedge funds own 96.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ITRI shares. 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 report on Thursday, June 20th. Guggenheim upgraded shares of Itron from a “neutral” rating to a “buy” rating and set a $130.00 target price for the company in a report on Thursday, July 11th. Roth Mkm reiterated a “buy” rating and issued a $125.00 target price on shares of Itron in a report on Wednesday, August 21st. Robert W. Baird increased their target price on shares of Itron from $115.00 to $123.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Finally, StockNews.com downgraded shares of Itron from a “strong-buy” rating to a “buy” rating in a report on Friday, June 28th. 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 presently has a consensus rating of “Moderate Buy” and an average target price of $118.64.

Itron Price Performance

Shares of NASDAQ:ITRI opened at $106.38 on Friday. The company has a quick ratio of 2.61, a current ratio of 3.16 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $4.88 billion, a PE ratio of 30.57, a P/E/G ratio of 0.84 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 company has a 50-day moving average price of $100.80 and a two-hundred day moving average price of $99.34.

Itron (NASDAQ:ITRI) last issued its 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. The firm had revenue of $609.07 million during the quarter, compared to analyst estimates of $599.25 million. Itron had a net margin of 7.98% and a return on equity of 16.42%. The company’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter last year, the business earned $0.65 earnings per share. Equities analysts forecast that Itron, Inc. will post 4.59 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Donald L. Reeves III sold 4,210 shares of the firm’s stock in a transaction that occurred 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 directly owns 16,269 shares in the company, valued at $1,643,169. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Joan S. Hooper sold 509 shares of the firm’s 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 $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. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Donald L. Reeves III sold 4,210 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total transaction of $425,210.00. Following the completion of the sale, the senior vice president now directly owns 16,269 shares in the company, 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 over the last quarter. 1.45% of the stock is currently owned by company insiders.

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.