Itron, Inc. (NASDAQ:ITRI) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in shares of Itron, Inc. (NASDAQ:ITRI) by 0.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 370,020 shares of the scientific and technical instruments company’s stock after selling 2,343 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.82% of Itron worth $39,522,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of ITRI. Covestor Ltd boosted its position in shares of Itron by 26.1% during the 3rd quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock valued at $57,000 after purchasing an additional 111 shares in the last quarter. Quarry LP lifted 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 valued at $35,000 after purchasing an additional 122 shares during the last quarter. Hexagon Capital Partners LLC boosted its holdings 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 buying an additional 125 shares in the last quarter. Farther Finance Advisors LLC grew its position in 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 worth $77,000 after buying an additional 129 shares during the last quarter. Finally, Glenmede Trust Co. NA increased its holdings in shares of Itron by 2.2% in the third quarter. Glenmede Trust Co. NA now owns 6,220 shares of the scientific and technical instruments company’s stock valued at $664,000 after buying an additional 134 shares in the last quarter. 96.19% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Thomas Deitrich sold 37,500 shares of Itron 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 sale, the chief executive officer now owns 205,276 shares of the company’s stock, 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 is accessible through this link. Insiders own 1.45% of the company’s stock.

Itron Price Performance

Shares of NASDAQ:ITRI opened at $118.04 on Wednesday. The business has a fifty day simple moving average of $111.37 and a 200 day simple moving average of $105.49. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91. Itron, Inc. has a 1 year low of $67.21 and a 1 year high of $124.90. The firm has a market cap of $5.32 billion, a price-to-earnings ratio of 24.19, a P/E/G ratio of 0.89 and a beta of 1.46.

Itron (NASDAQ:ITRI) last posted its quarterly earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share 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 company had revenue of $615.46 million during the quarter, compared to the consensus estimate of $596.41 million. During the same period last year, the business earned $0.98 EPS. The business’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, sell-side analysts predict that Itron, Inc. will post 5.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ITRI has been the subject of several research reports. Roth Mkm raised their price objective on Itron from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Janney Montgomery Scott started coverage on Itron in a research note on Friday, September 27th. They issued a “buy” rating and a $131.00 price target on the stock. BNP Paribas began coverage on shares of Itron in a research note on Thursday, September 5th. They set an “outperform” rating and a $133.00 price objective for the company. Guggenheim lifted their target price on shares of Itron from $128.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Piper Sandler upped their price target on shares of Itron from $110.00 to $119.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Itron currently has an average rating of “Moderate Buy” and a consensus target price of $123.92.

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.