HighTower Advisors LLC Purchases 234 Shares of Itron, Inc. (NASDAQ:ITRI)

HighTower Advisors LLC lifted its position in shares of Itron, Inc. (NASDAQ:ITRI) by 8.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,024 shares of the scientific and technical instruments company’s stock after buying an additional 234 shares during the period. HighTower Advisors LLC’s holdings in Itron were worth $321,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of ITRI. Covestor Ltd grew 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 purchasing an additional 111 shares in the last quarter. Quarry LP grew its holdings 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 worth $35,000 after purchasing an additional 122 shares in the last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Itron by 21.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 724 shares of the scientific and technical instruments company’s stock worth $77,000 after acquiring an additional 129 shares during the period. Glenmede Trust Co. NA lifted its position in shares of Itron by 2.2% during the 3rd 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 last quarter. Finally, Xponance Inc. grew its holdings in shares of Itron by 5.1% during the 2nd quarter. Xponance Inc. now owns 2,910 shares of the scientific and technical instruments company’s stock valued at $288,000 after purchasing an additional 142 shares during the last quarter. 96.19% of the stock is owned by institutional investors and hedge funds.

Itron Price Performance

Shares of NASDAQ ITRI opened at $108.93 on Tuesday. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. Itron, Inc. has a twelve month low of $67.21 and a twelve month high of $124.90. The stock’s 50-day simple moving average is $113.18 and its two-hundred day simple moving average is $105.93. The firm has a market capitalization of $4.91 billion, a P/E ratio of 22.32, a P/E/G ratio of 0.86 and a beta of 1.46.

Itron (NASDAQ:ITRI) last released its earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.71. The company had revenue of $615.46 million during 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 revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.98 EPS. As a group, equities analysts anticipate that Itron, Inc. will post 5.33 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on ITRI. TD Cowen boosted their target price on shares of Itron from $125.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, November 1st. BNP Paribas started coverage on shares of Itron in a research report on Thursday, September 5th. They issued an “outperform” rating and a $133.00 price target for the company. Roth Mkm lifted their price objective on shares of Itron from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Guggenheim boosted their price objective on Itron from $128.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Piper Sandler lifted their price target on shares of Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $123.92.

Insider Activity at Itron

In other news, CEO Thomas Deitrich sold 37,500 shares of the business’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 sale, the chief executive officer now directly owns 205,276 shares of the company’s stock, valued at $21,519,083.08. The trade was a 15.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 1.45% of the stock is currently owned by corporate 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.