Itron, Inc. (NASDAQ:ITRI) Stock Position Lifted by ClariVest Asset Management LLC

ClariVest Asset Management LLC lifted its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 26.8% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,825 shares of the scientific and technical instruments company’s stock after purchasing an additional 7,561 shares during the quarter. ClariVest Asset Management LLC owned about 0.08% of Itron worth $3,545,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of ITRI. Hexagon Capital Partners LLC boosted its holdings 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 valued at $27,000 after acquiring an additional 125 shares in the last quarter. Contravisory Investment Management Inc. boosted its stake in Itron by 61.5% during the 1st quarter. Contravisory Investment Management Inc. now owns 344 shares of the scientific and technical instruments company’s stock valued at $32,000 after purchasing an additional 131 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Itron by 32.7% during the 1st quarter. GAMMA Investing LLC now owns 491 shares of the scientific and technical instruments company’s stock valued at $45,000 after purchasing an additional 121 shares during the period. C M Bidwell & Associates Ltd. bought a new stake in shares of Itron in the 4th quarter worth $76,000. Finally, BI Asset Management Fondsmaeglerselskab A S acquired a new stake in shares of Itron in the fourth quarter valued at $81,000. Institutional investors and hedge funds own 96.19% of the company’s stock.

Insiders Place Their Bets

In related news, SVP Donald L. Reeves III sold 4,210 shares of the business’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total value of $425,210.00. Following the completion of the sale, the senior vice president now owns 16,269 shares of the company’s stock, valued at approximately $1,643,169. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Itron news, CEO Thomas Deitrich sold 887 shares of the business’s 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 owns 205,276 shares of the company’s stock, valued at $20,968,943.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Donald L. Reeves III sold 4,210 shares of the company’s 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 owns 16,269 shares of the company’s stock, valued at approximately $1,643,169. The disclosure for this sale can be found here. Insiders have sold a total of 5,776 shares of company stock valued at $584,721 in the last three months. Insiders own 1.45% of the company’s stock.

Itron Price Performance

NASDAQ ITRI opened at $97.47 on Wednesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.16 and a quick ratio of 2.61. The firm has a market capitalization of $4.38 billion, a price-to-earnings ratio of 28.01, a price-to-earnings-growth ratio of 0.81 and a beta of 1.47. The company has a 50 day simple moving average of $100.42 and a 200-day simple moving average of $98.78. Itron, Inc. has a 52-week low of $56.11 and a 52-week high of $113.07.

Itron (NASDAQ:ITRI) last released its earnings results on Thursday, August 1st. The scientific and technical instruments company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.25. Itron had a net margin of 7.98% and a return on equity of 16.42%. The company had revenue of $609.07 million during the quarter, compared to the consensus estimate of $599.25 million. During the same quarter in the prior year, the firm earned $0.65 EPS. The company’s revenue was up 12.6% compared to the same quarter last year. Equities research analysts predict that Itron, Inc. will post 4.59 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. BNP Paribas initiated coverage on shares of Itron in a report on Thursday, September 5th. They issued an “outperform” rating and a $133.00 price target for the company. JPMorgan Chase & Co. raised their target price on shares of Itron from $104.00 to $112.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Roth Mkm reaffirmed a “buy” rating and issued a $125.00 price target on shares of Itron in a report on Wednesday, August 21st. Piper Sandler raised their price objective on Itron from $109.00 to $110.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Finally, TD Cowen boosted their target price on Itron from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, Itron presently has an average rating of “Moderate Buy” and a consensus target price of $118.64.

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.