Quadrature Capital Ltd Cuts Stake in Itron, Inc. (NASDAQ:ITRI)

Quadrature Capital Ltd decreased its position in Itron, Inc. (NASDAQ:ITRIFree Report) by 76.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,132 shares of the scientific and technical instruments company’s stock after selling 36,245 shares during the period. Quadrature Capital Ltd’s holdings in Itron were worth $1,189,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ITRI. Quarry LP lifted its stake in shares of Itron by 29.0% in the third quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company’s stock worth $48,000 after buying an additional 102 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Itron in the 3rd quarter worth approximately $671,000. Menard Financial Group LLC lifted its position in Itron by 14.3% in the 3rd quarter. Menard Financial Group LLC now owns 5,065 shares of the scientific and technical instruments company’s stock valued at $541,000 after acquiring an additional 633 shares in the last quarter. HighTower Advisors LLC boosted its stake in Itron by 8.4% during the 3rd quarter. HighTower Advisors LLC now owns 3,024 shares of the scientific and technical instruments company’s stock valued at $321,000 after purchasing an additional 234 shares during the last quarter. Finally, Centiva Capital LP increased its holdings in shares of Itron by 114.2% in the 3rd quarter. Centiva Capital LP now owns 12,542 shares of the scientific and technical instruments company’s stock worth $1,340,000 after purchasing an additional 6,686 shares in the last quarter. 96.19% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Itron 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 through the SEC website. Company insiders own 1.45% of the company’s stock.

Itron Price Performance

Shares of Itron stock opened at $115.92 on Friday. The stock’s fifty day moving average is $112.09 and its 200 day moving average is $105.69. Itron, Inc. has a one year low of $67.21 and a one year high of $124.90. 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 stock has a market cap of $5.23 billion, a P/E ratio of 23.75, a P/E/G ratio of 0.89 and a beta of 1.46.

Itron (NASDAQ:ITRIGet Free Report) last posted its quarterly earnings data on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.71. The firm had revenue of $615.46 million for the quarter, compared to analysts’ expectations of $596.41 million. Itron had a return on equity of 19.03% and a net margin of 9.37%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 EPS. Sell-side analysts anticipate that Itron, Inc. will post 5.33 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ITRI shares. BNP Paribas began coverage on Itron in a report on Thursday, September 5th. They set an “outperform” rating and a $133.00 price target on the stock. Janney Montgomery Scott started coverage on shares of Itron in a research note on Friday, September 27th. They issued a “buy” rating and a $131.00 price target for the company. Robert W. Baird increased their price objective 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. Piper Sandler lifted their target price on shares of Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, TD Cowen boosted their target price on shares of Itron from $125.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Itron presently has an average rating of “Moderate Buy” and a consensus target price of $123.92.

Check Out Our Latest Stock Report on Itron

Itron Profile

(Free Report)

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.

Featured Articles

Institutional Ownership by Quarter for Itron (NASDAQ:ITRI)

Receive News & Ratings for Itron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Itron and related companies with MarketBeat.com's FREE daily email newsletter.