Braun Stacey Associates Inc. Sells 21,906 Shares of Itron, Inc. (NASDAQ:ITRI)

Braun Stacey Associates Inc. cut its position in Itron, Inc. (NASDAQ:ITRI) by 9.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 218,409 shares of the scientific and technical instruments company’s stock after selling 21,906 shares during the quarter. Braun Stacey Associates Inc. owned 0.48% of Itron worth $23,328,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Covestor Ltd increased its stake in shares of 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 buying an additional 111 shares during the period. Quarry LP grew its stake in Itron by 53.0% during the second 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 during the period. Hexagon Capital Partners LLC grew its stake in Itron by 85.6% during the second quarter. Hexagon Capital Partners LLC now owns 271 shares of the scientific and technical instruments company’s stock worth $27,000 after purchasing an additional 125 shares during the period. Farther Finance Advisors LLC grew its stake in Itron by 21.7% during the third quarter. Farther Finance Advisors LLC now owns 724 shares of the scientific and technical instruments company’s stock worth $77,000 after purchasing an additional 129 shares during the period. Finally, Xponance Inc. grew its stake in Itron by 5.1% during the second quarter. Xponance Inc. now owns 2,910 shares of the scientific and technical instruments company’s stock worth $288,000 after purchasing an additional 142 shares during the period. Institutional investors and hedge funds own 96.19% of the company’s stock.

Itron Stock Down 2.3 %

ITRI stock opened at $114.90 on Monday. Itron, Inc. has a twelve month low of $64.96 and a twelve month high of $124.90. 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 stock’s 50 day moving average is $107.85 and its 200-day moving average is $104.63. The firm has a market capitalization of $5.18 billion, a PE ratio of 23.55, a P/E/G ratio of 0.86 and a beta of 1.46.

Itron (NASDAQ:ITRI) last posted its earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.71. The company had revenue of $615.46 million for the quarter, compared to analyst estimates of $596.41 million. Itron had a return on equity of 19.03% and a net margin of 9.37%. The company’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the company earned $0.98 earnings per share. Sell-side analysts expect that Itron, Inc. will post 5.33 EPS for the current fiscal year.

Insider Buying and Selling

In other Itron news, SVP Donald L. Reeves III sold 4,210 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was 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 directly owns 16,269 shares of the company’s stock, valued at $1,643,169. This trade represents a 20.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Thomas Deitrich sold 37,500 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 205,276 shares of the company’s stock, valued at $21,519,083.08. This represents a 15.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 43,276 shares of company stock worth $4,517,947. 1.45% of the stock is owned by company insiders.

Analysts Set New Price Targets

ITRI has been the subject of several recent analyst reports. Oppenheimer raised their target price on Itron from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. TD Cowen raised their target price on Itron from $125.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Robert W. Baird raised their target price on Itron from $123.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Janney Montgomery Scott initiated coverage on Itron in a research note on Friday, September 27th. They set a “buy” rating and a $131.00 target price for the company. Finally, Piper Sandler raised their target price on Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $123.92.

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.