Blueshift Asset Management LLC Invests $448,000 in Itron, Inc. (NASDAQ:ITRI)

Blueshift Asset Management LLC acquired a new stake in Itron, Inc. (NASDAQ:ITRI) in the 3rd quarter, HoldingsChannel reports. The institutional investor acquired 4,199 shares of the scientific and technical instruments company’s stock, valued at approximately $448,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ITRI. Glenmede Trust Co. NA lifted its stake in Itron by 2.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 6,220 shares of the scientific and technical instruments company’s stock worth $664,000 after purchasing an additional 134 shares in the last quarter. Freedom Investment Management Inc. increased its holdings in shares of Itron by 2.7% in the third quarter. Freedom Investment Management Inc. now owns 12,649 shares of the scientific and technical instruments company’s stock valued at $1,351,000 after purchasing an additional 337 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Itron by 2.2% during the third quarter. The Manufacturers Life Insurance Company now owns 26,231 shares of the scientific and technical instruments company’s stock worth $2,802,000 after buying an additional 571 shares in the last quarter. Truvestments Capital LLC purchased a new position in Itron during the third quarter worth approximately $103,000. Finally, Dynamic Technology Lab Private Ltd boosted its stake in Itron by 5.6% during the third quarter. Dynamic Technology Lab Private Ltd now owns 16,406 shares of the scientific and technical instruments company’s stock worth $1,752,000 after buying an additional 871 shares during the last quarter. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Itron Stock Performance

Shares of Itron stock opened at $119.29 on Friday. The stock has a market capitalization of $5.38 billion, a price-to-earnings ratio of 24.44, a price-to-earnings-growth ratio of 0.89 and a beta of 1.46. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83. The business has a 50-day moving average of $110.44 and a 200 day moving average of $105.21. Itron, Inc. has a 12 month low of $65.63 and a 12 month high of $124.90.

Itron (NASDAQ:ITRI) last posted its quarterly earnings data on Thursday, October 31st. The scientific and technical instruments company reported $1.84 EPS for the quarter, beating the consensus estimate of $1.13 by $0.71. Itron had a net margin of 9.37% and a return on equity of 19.03%. The business had revenue of $615.46 million during the quarter, compared to analyst estimates of $596.41 million. During the same quarter last year, the firm posted $0.98 earnings per share. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Itron, Inc. will post 5.33 earnings per share for the current year.

Analysts Set New Price Targets

ITRI has been the topic of several analyst reports. Roth Mkm lifted their price target on Itron from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Stephens reaffirmed an “equal weight” rating and set a $110.00 target price on shares of Itron in a research note on Monday, August 5th. Guggenheim increased their price target on shares of Itron from $128.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. Robert W. Baird lifted their price target on shares of Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, BNP Paribas started coverage on Itron in a research report on Thursday, September 5th. They issued an “outperform” rating and a $133.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Itron has an average rating of “Moderate Buy” and a consensus price target of $123.92.

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 stock was 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 in the company, valued at approximately $21,519,083.08. This trade represents a 15.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 1.45% of the company’s stock.

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.