Captrust Financial Advisors Takes $215,000 Position in Itron, Inc. (NASDAQ:ITRI)

Captrust Financial Advisors acquired a new position in Itron, Inc. (NASDAQ:ITRI) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 2,016 shares of the scientific and technical instruments company’s stock, valued at approximately $215,000.

Several other large investors have also recently modified their holdings of the stock. Capstone Investment Advisors LLC purchased a new position in shares of Itron in the third quarter worth about $288,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Itron by 9.4% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 187,219 shares of the scientific and technical instruments company’s stock worth $19,997,000 after buying an additional 16,133 shares during the period. Blueshift Asset Management LLC purchased a new position in shares of Itron in the third quarter worth about $448,000. Glenmede Trust Co. NA increased its holdings in shares of Itron by 2.2% in the third quarter. Glenmede Trust Co. NA now owns 6,220 shares of the scientific and technical instruments company’s stock worth $664,000 after buying an additional 134 shares during the period. Finally, Freedom Investment Management Inc. increased its holdings in shares of Itron by 2.7% in the third quarter. Freedom Investment Management Inc. now owns 12,649 shares of the scientific and technical instruments company’s stock worth $1,351,000 after buying an additional 337 shares during the period. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Analysts Set New Price Targets

ITRI has been the topic of a number of research analyst reports. Guggenheim boosted their price target on Itron from $128.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. BNP Paribas initiated coverage on Itron in a report on Thursday, September 5th. They set an “outperform” rating and a $133.00 price target on the stock. Roth Mkm boosted 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 company an “outperform” rating in a report on Friday, November 1st. Finally, Piper Sandler lifted their price objective on Itron from $110.00 to $119.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $123.92.

Itron Stock Performance

Shares of ITRI opened at $111.94 on Monday. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. The business’s 50 day moving average price is $112.89 and its 200-day moving average price is $105.82. Itron, Inc. has a 52 week low of $67.21 and a 52 week high of $124.90. The stock has a market cap of $5.05 billion, a P/E ratio of 22.94, a P/E/G ratio of 0.86 and a beta of 1.46.

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

Insider Activity at Itron

In related news, CEO Thomas Deitrich sold 37,500 shares of the company’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 transaction, the chief executive officer now directly owns 205,276 shares of the company’s stock, valued at approximately $21,519,083.08. This represents a 15.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 1.45% of the stock is currently owned by insiders.

About Itron

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.