Algert Global LLC Grows Stake in Itron, Inc. (NASDAQ:ITRI)

Algert Global LLC boosted its stake in Itron, Inc. (NASDAQ:ITRI) by 13.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 155,045 shares of the scientific and technical instruments company’s stock after purchasing an additional 18,599 shares during the period. Itron makes up approximately 0.4% of Algert Global LLC’s holdings, making the stock its 10th largest position. Algert Global LLC owned about 0.34% of Itron worth $16,560,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sculptor Capital LP purchased a new stake in shares of Itron in the 2nd quarter worth $5,255,000. Assenagon Asset Management S.A. increased its position in Itron by 7.8% in the second quarter. Assenagon Asset Management S.A. now owns 268,379 shares of the scientific and technical instruments company’s stock worth $26,559,000 after buying an additional 19,387 shares in the last quarter. Tidal Investments LLC bought a new position in shares of Itron in the first quarter worth about $1,319,000. Vanguard Group Inc. lifted its position in shares of Itron by 0.8% during the 1st 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 buying an additional 45,909 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in shares of Itron by 97.8% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 10,207 shares of the scientific and technical instruments company’s stock valued at $1,012,000 after acquiring an additional 5,047 shares during the period. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Wall Street Analysts Forecast Growth

ITRI has been the topic of a number of recent analyst reports. Roth Mkm raised their target price on shares of Itron from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Robert W. Baird raised their price objective on shares of Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Guggenheim upped their target price on shares of Itron from $128.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Piper Sandler increased their price target on Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, TD Cowen boosted their price objective on Itron from $125.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, Itron currently has an average rating of “Moderate Buy” and an average target price of $123.92.

Insider Transactions at Itron

In related news, CEO Thomas Deitrich sold 887 shares of Itron stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $102.15, for a total value of $90,607.05. Following the completion of the sale, the chief executive officer now directly owns 205,276 shares in the company, valued at $20,968,943.40. The trade was a 0.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Joan S. Hooper sold 509 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $102.15, for a total transaction of $51,994.35. Following the completion of the sale, the chief financial officer now directly owns 72,338 shares of the company’s stock, valued at $7,389,326.70. The trade was a 0.70 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 39,066 shares of company stock worth $4,092,737. 1.45% of the stock is currently owned by company insiders.

Itron Stock Up 2.2 %

Shares of ITRI opened at $118.93 on Friday. 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 52-week low of $65.42 and a 52-week high of $124.90. The company has a market cap of $5.36 billion, a PE ratio of 24.37, a P/E/G ratio of 0.87 and a beta of 1.46. The business has a fifty day moving average of $109.20 and a 200 day moving average of $104.94.

Itron (NASDAQ:ITRI) last released its quarterly earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.71. Itron had a net margin of 9.37% and a return on equity of 19.03%. The firm had revenue of $615.46 million during the quarter, compared to analysts’ expectations of $596.41 million. The firm’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.98 EPS. On average, sell-side analysts expect that Itron, Inc. will post 5.33 EPS for the current year.

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.