Hood River Capital Management LLC Purchases New Position in Itron, Inc. (NASDAQ:ITRI)

Hood River Capital Management LLC acquired a new position in Itron, Inc. (NASDAQ:ITRI) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 228,492 shares of the scientific and technical instruments company’s stock, valued at approximately $22,612,000. Hood River Capital Management LLC owned approximately 0.50% of Itron as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Los Angeles Capital Management LLC bought a new position in shares of Itron during the 1st quarter worth $2,002,000. Commonwealth Equity Services LLC bought a new position in Itron during the 1st quarter worth about $1,076,000. Jupiter Asset Management Ltd. purchased a new position in Itron during the 1st quarter valued at about $2,029,000. Oppenheimer & Co. Inc. raised its holdings in shares of Itron by 91.1% in the 4th quarter. Oppenheimer & Co. Inc. now owns 30,568 shares of the scientific and technical instruments company’s stock valued at $2,308,000 after purchasing an additional 14,573 shares in the last quarter. Finally, UniSuper Management Pty Ltd bought a new stake in shares of Itron in the 1st quarter valued at about $904,000. 96.19% of the stock is currently owned by hedge funds and other institutional investors.

Itron Price Performance

Shares of ITRI stock opened at $107.22 on Monday. Itron, Inc. has a fifty-two week low of $56.11 and a fifty-two week high of $113.07. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.61 and a current ratio of 3.16. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 30.81, a PEG ratio of 0.84 and a beta of 1.47. The stock’s 50-day simple moving average is $100.85 and its 200-day simple moving average is $99.52.

Itron (NASDAQ:ITRI) last released its earnings results on Thursday, August 1st. The scientific and technical instruments company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.25. The company had revenue of $609.07 million for the quarter, compared to the consensus estimate of $599.25 million. Itron had a net margin of 7.98% and a return on equity of 16.42%. Itron’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.65 EPS. As a group, equities analysts forecast that Itron, Inc. will post 4.59 earnings per share for the current fiscal year.

Insider Activity at Itron

In other Itron news, CFO Joan S. Hooper sold 509 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $102.15, for a total transaction of $51,994.35. Following the sale, the chief financial officer now owns 72,338 shares in the company, valued at approximately $7,389,326.70. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CFO Joan S. Hooper sold 509 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was 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 sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Donald L. Reeves III sold 4,210 shares of the company’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 sale, the senior vice president now owns 16,269 shares in the company, valued at approximately $1,643,169. The disclosure for this sale can be found here. Insiders have sold a total of 5,776 shares of company stock valued at $584,721 in the last ninety days. Company insiders own 1.45% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on ITRI. Roth Mkm reissued a “buy” rating and set a $125.00 price objective on shares of Itron in a report on Wednesday, August 21st. Guggenheim raised Itron from a “neutral” rating to a “buy” rating and set a $130.00 target price on the stock in a research report on Thursday, July 11th. Canaccord Genuity Group boosted their price target on Itron from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Stephens restated an “equal weight” rating and set a $110.00 price objective on shares of Itron in a research note on Monday, August 5th. Finally, Piper Sandler lifted their target price on Itron from $109.00 to $110.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, Itron currently has a consensus rating of “Moderate Buy” and an average price target of $118.64.

Itron Company 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.