Xponance Inc. Increases Stock Position in Itron, Inc. (NASDAQ:ITRI)

Xponance Inc. boosted its stake in Itron, Inc. (NASDAQ:ITRI) by 5.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,910 shares of the scientific and technical instruments company’s stock after purchasing an additional 142 shares during the quarter. Xponance Inc.’s holdings in Itron were worth $288,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Itron by 0.8% in the first quarter. Vanguard Group Inc. now owns 5,701,337 shares of the scientific and technical instruments company’s stock valued at $527,488,000 after purchasing an additional 45,909 shares in the last quarter. Janus Henderson Group PLC raised its stake in shares of Itron by 2.2% during the first quarter. Janus Henderson Group PLC now owns 542,943 shares of the scientific and technical instruments company’s stock worth $50,233,000 after acquiring an additional 11,918 shares in the last quarter. Silvercrest Asset Management Group LLC purchased a new position in shares of Itron during the first quarter worth approximately $401,000. Renaissance Technologies LLC raised its stake in shares of Itron by 72.5% during the second quarter. Renaissance Technologies LLC now owns 309,761 shares of the scientific and technical instruments company’s stock worth $30,654,000 after acquiring an additional 130,200 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in shares of Itron by 29.6% during the second quarter. Bank of Montreal Can now owns 274,606 shares of the scientific and technical instruments company’s stock worth $27,455,000 after acquiring an additional 62,725 shares in the last quarter. 96.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Itron

In other news, 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 in the company, valued at approximately $20,968,943.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, 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 in the company, valued at approximately $20,968,943.40. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Joan S. Hooper sold 509 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 $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 disclosure for this sale can be found here. Insiders have sold a total of 5,776 shares of company stock worth $584,721 over the last quarter. Corporate insiders own 1.45% of the company’s stock.

Wall Street Analysts Forecast Growth

ITRI has been the topic of several research reports. Canaccord Genuity Group lifted their price target on shares of Itron from $115.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, June 20th. JPMorgan Chase & Co. lifted their price target on shares of Itron from $104.00 to $112.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Roth Mkm reissued a “buy” rating and set a $125.00 price target on shares of Itron in a research note on Wednesday, August 21st. TD Cowen raised their target price on shares of Itron from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Oppenheimer raised their target price on shares of Itron from $110.00 to $112.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Four 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 has an average rating of “Moderate Buy” and a consensus target price of $119.67.

Itron Stock Performance

NASDAQ:ITRI opened at $105.08 on Wednesday. The stock has a market cap of $4.82 billion, a P/E ratio of 30.20, a price-to-earnings-growth ratio of 0.90 and a beta of 1.47. The firm’s fifty day simple moving average is $101.06 and its 200 day simple moving average is $100.10. Itron, Inc. has a twelve month low of $56.11 and a twelve month high of $113.07. 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 (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, beating the consensus estimate of $0.96 by $0.25. The business had revenue of $609.07 million for the quarter, compared to analysts’ expectations of $599.25 million. Itron had a net margin of 7.98% and a return on equity of 16.42%. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.65 earnings per share. As a group, research analysts predict that Itron, Inc. will post 4.59 EPS for the current year.

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.