Oppenheimer & Co. Inc. Sells 760 Shares of Itron, Inc. (NASDAQ:ITRI)

Oppenheimer & Co. Inc. lowered its holdings in Itron, Inc. (NASDAQ:ITRI) by 3.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 19,622 shares of the scientific and technical instruments company’s stock after selling 760 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Itron were worth $2,096,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Covestor Ltd grew its holdings in shares of Itron by 26.1% during 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 last quarter. Quarry LP increased its holdings in 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. Hexagon Capital Partners LLC raised its stake in shares of Itron by 85.6% in 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 last quarter. Farther Finance Advisors LLC lifted its holdings in shares of Itron by 21.7% in the third quarter. Farther Finance Advisors LLC now owns 724 shares of the scientific and technical instruments company’s stock valued at $77,000 after purchasing an additional 129 shares in the last quarter. Finally, Xponance Inc. boosted its position in shares of Itron by 5.1% during the second quarter. Xponance Inc. now owns 2,910 shares of the scientific and technical instruments company’s stock valued at $288,000 after buying an additional 142 shares during the last quarter. Institutional investors own 96.19% of the company’s stock.

Insider Buying and Selling at Itron

In other Itron news, CEO Thomas Deitrich sold 37,500 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $104.83, for a total value of $3,931,125.00. Following the completion of the transaction, the chief executive officer now directly owns 205,276 shares of the company’s stock, valued at $21,519,083.08. This trade represents a 15.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Donald L. Reeves III sold 4,210 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total transaction of $425,210.00. Following the completion of the transaction, the senior vice president now directly owns 16,269 shares in the company, valued at approximately $1,643,169. The trade was a 20.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,276 shares of company stock valued at $4,517,947 in the last quarter. 1.45% of the stock is currently owned by corporate insiders.

Itron Stock Down 2.3 %

ITRI stock opened at $114.90 on Friday. The stock has a fifty day moving average of $107.85 and a 200-day moving average of $104.54. Itron, Inc. has a fifty-two week low of $64.96 and a fifty-two week high of $124.90. The company has a market capitalization of $5.18 billion, a price-to-earnings ratio of 23.55, a PEG ratio of 0.89 and a beta of 1.46. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36.

Itron (NASDAQ:ITRI) last posted 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 return on equity of 19.03% and a net margin of 9.37%. The firm had revenue of $615.46 million during the quarter, compared to analyst estimates of $596.41 million. During the same period last year, the company earned $0.98 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. As a group, equities research analysts predict that Itron, Inc. will post 5.33 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on ITRI. Roth Mkm raised their price objective on Itron from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Robert W. Baird boosted their price target on shares of Itron from $123.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. BNP Paribas initiated coverage on shares of Itron in a research note on Thursday, September 5th. They issued an “outperform” rating and a $133.00 price objective for the company. Stephens restated an “equal weight” rating and issued a $110.00 target price on shares of Itron in a research note on Monday, August 5th. Finally, Janney Montgomery Scott began coverage on Itron in a research report on Friday, September 27th. They set a “buy” rating and a $131.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $123.92.

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.