Zurcher Kantonalbank Zurich Cantonalbank Buys 16,133 Shares of Itron, Inc. (NASDAQ:ITRI)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Itron, Inc. (NASDAQ:ITRI) by 9.4% in the 3rd quarter, HoldingsChannel reports. The fund owned 187,219 shares of the scientific and technical instruments company’s stock after purchasing an additional 16,133 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Itron were worth $19,997,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Hexagon Capital Partners LLC grew its stake in 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 purchasing an additional 125 shares during the last quarter. Quarry LP boosted its holdings in shares of Itron by 53.0% in the 2nd quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company’s stock valued at $35,000 after buying an additional 122 shares in the last quarter. Covestor Ltd grew its position in shares of Itron by 26.1% in the 3rd quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock worth $57,000 after buying an additional 111 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Itron by 46.6% during the 2nd quarter. GAMMA Investing LLC now owns 720 shares of the scientific and technical instruments company’s stock worth $71,000 after acquiring an additional 229 shares in the last quarter. Finally, Farther Finance Advisors LLC lifted its position in Itron by 21.7% during the third quarter. Farther Finance Advisors LLC now owns 724 shares of the scientific and technical instruments company’s stock valued at $77,000 after acquiring an additional 129 shares during the last quarter. 96.19% of the stock is currently owned by hedge funds and other institutional investors.

Itron Price Performance

Shares of NASDAQ:ITRI opened at $118.53 on Friday. Itron, Inc. has a twelve month low of $65.81 and a twelve month high of $124.90. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91. The company has a market cap of $5.34 billion, a PE ratio of 24.29, a price-to-earnings-growth ratio of 0.90 and a beta of 1.46. The company’s 50 day moving average is $110.70 and its 200 day moving average is $105.31.

Itron (NASDAQ:ITRI) last released its quarterly earnings data 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. The firm had revenue of $615.46 million for the quarter, compared to analyst estimates of $596.41 million. Itron had a net margin of 9.37% and a return on equity of 19.03%. The business’s quarterly revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.98 earnings per share. On average, sell-side analysts forecast that Itron, Inc. will post 5.33 EPS for the current year.

Insider Buying and Selling at Itron

In related news, CEO Thomas Deitrich sold 37,500 shares of the firm’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 directly owns 205,276 shares of the company’s stock, valued at $21,519,083.08. This trade represents a 15.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.45% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Guggenheim lifted their price target on shares of Itron from $128.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Piper Sandler boosted their target price on Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Stephens reaffirmed an “equal weight” rating and set a $110.00 target price on shares of Itron in a research report on Monday, August 5th. Robert W. Baird raised their price target on Itron from $123.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, BNP Paribas started coverage on Itron in a research note on Thursday, September 5th. They set an “outperform” rating and a $133.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.92.

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.