Truvestments Capital LLC Acquires New Position in Itron, Inc. (NASDAQ:ITRI)

Truvestments Capital LLC bought a new position in Itron, Inc. (NASDAQ:ITRI) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 969 shares of the scientific and technical instruments company’s stock, valued at approximately $103,000.

A number of other institutional investors have also modified their holdings of ITRI. O Shaughnessy Asset Management LLC bought a new position in Itron in the first quarter worth approximately $230,000. Lazard Asset Management LLC grew its position in shares of Itron by 16.2% during the 1st quarter. Lazard Asset Management LLC now owns 7,898 shares of the scientific and technical instruments company’s stock worth $730,000 after buying an additional 1,101 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Itron by 6.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 30,298 shares of the scientific and technical instruments company’s stock valued at $2,804,000 after buying an additional 1,765 shares during the period. Silvercrest Asset Management Group LLC bought a new stake in shares of Itron in the first quarter valued at about $401,000. Finally, Bayesian Capital Management LP lifted its stake in Itron by 29.7% in the first quarter. Bayesian Capital Management LP now owns 5,245 shares of the scientific and technical instruments company’s stock worth $485,000 after acquiring an additional 1,200 shares during the period. 96.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Itron

In other Itron news, CEO Thomas Deitrich sold 37,500 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total transaction of $3,931,125.00. Following the sale, the chief executive officer now owns 205,276 shares in the company, valued at approximately $21,519,083.08. The trade was a 15.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.45% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on ITRI shares. Guggenheim boosted their price target on shares of Itron from $128.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Janney Montgomery Scott began coverage on shares of Itron in a research note on Friday, September 27th. They issued a “buy” rating and a $131.00 price objective for the company. Piper Sandler increased their target price on Itron from $110.00 to $119.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Stephens reiterated an “equal weight” rating and issued a $110.00 price target on shares of Itron in a report on Monday, August 5th. Finally, BNP Paribas began coverage on Itron in a research note on Thursday, September 5th. They set an “outperform” rating and a $133.00 price objective for the company. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $123.92.

Itron Price Performance

Shares of NASDAQ ITRI opened at $118.00 on Wednesday. Itron, Inc. has a fifty-two week low of $65.42 and a fifty-two week high of $124.90. The company has a market cap of $5.32 billion, a PE ratio of 24.18, a P/E/G 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. The business has a 50-day simple moving average of $109.84 and a two-hundred day simple moving average of $105.04.

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

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.