Lisanti Capital Growth LLC Acquires 11,210 Shares of Itron, Inc. (NASDAQ:ITRI)

Lisanti Capital Growth LLC grew its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 34.9% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 43,300 shares of the scientific and technical instruments company’s stock after buying an additional 11,210 shares during the period. Lisanti Capital Growth LLC owned approximately 0.09% of Itron worth $4,285,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the company. Trexquant Investment LP increased its stake in shares of Itron by 18.4% in the 4th quarter. Trexquant Investment LP now owns 67,973 shares of the scientific and technical instruments company’s stock valued at $5,133,000 after buying an additional 10,542 shares during the period. Los Angeles Capital Management LLC acquired a new position in Itron in the 1st quarter valued at about $2,002,000. Commonwealth Equity Services LLC acquired a new stake in Itron in the 1st quarter worth about $1,076,000. Jupiter Asset Management Ltd. acquired a new position in Itron in the first quarter valued at about $2,029,000. Finally, Oppenheimer & Co. Inc. boosted its holdings in shares of Itron by 91.1% in the 4th quarter. Oppenheimer & Co. Inc. now owns 30,568 shares of the scientific and technical instruments company’s stock valued at $2,308,000 after purchasing an additional 14,573 shares in the last quarter. Institutional investors own 96.19% of the company’s stock.

Itron Price Performance

Shares of NASDAQ ITRI traded up $0.61 during mid-day trading on Friday, reaching $102.22. The company’s stock had a trading volume of 624,845 shares, compared to its average volume of 543,683. The stock has a fifty day moving average of $100.45 and a two-hundred day moving average of $97.68. The firm has a market capitalization of $4.60 billion, a PE ratio of 29.37, a P/E/G ratio of 0.86 and a beta of 1.45. Itron, Inc. has a 52 week low of $56.11 and a 52 week high of $113.07. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.16 and a quick ratio of 2.61.

Itron (NASDAQ:ITRI) last issued its quarterly earnings data on Thursday, August 1st. The scientific and technical instruments company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.25. Itron had a return on equity of 16.42% and a net margin of 7.98%. The firm had revenue of $609.07 million during the quarter, compared to analyst estimates of $599.25 million. During the same quarter last year, the business posted $0.65 earnings per share. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Itron, Inc. will post 4.59 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently issued reports on ITRI shares. Piper Sandler raised their price objective on shares of Itron from $109.00 to $110.00 and gave the company a “neutral” rating in a report on Monday, July 22nd. Canaccord Genuity Group raised their target price on Itron from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. JPMorgan Chase & Co. upped their price target on Itron from $104.00 to $112.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Oppenheimer increased their target price on shares of Itron from $110.00 to $112.00 and gave the company an “outperform” rating in a research report on Wednesday, July 17th. Finally, Guggenheim upgraded shares of Itron from a “neutral” rating to a “buy” rating and set a $130.00 target price for the company in a research note on Thursday, July 11th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $117.20.

Insider Activity

In other Itron news, SVP Donald L. Reeves III sold 4,210 shares of Itron 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 sale, the senior vice president now directly owns 16,269 shares of the company’s stock, valued at approximately $1,643,169. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Itron news, CFO Joan S. Hooper sold 509 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $102.15, for a total value of $51,994.35. Following the sale, the chief financial officer now directly owns 72,338 shares of the company’s stock, valued at $7,389,326.70. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Donald L. Reeves III sold 4,210 shares of the stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total value of $425,210.00. Following the sale, the senior vice president now directly owns 16,269 shares in the company, valued at $1,643,169. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,776 shares of company stock valued at $584,721. 1.45% of the stock is currently owned by company 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.