Itron, Inc. (NASDAQ:ITRI) Shares Purchased by Banco Santander S.A.

Banco Santander S.A. grew its holdings in shares of Itron, Inc. (NASDAQ:ITRI) by 4,133.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 190,500 shares of the scientific and technical instruments company’s stock after purchasing an additional 186,000 shares during the quarter. Banco Santander S.A.’s holdings in Itron were worth $20,347,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of ITRI. Silvercrest Asset Management Group LLC acquired a new stake in Itron in the 1st quarter valued at about $401,000. Handelsbanken Fonder AB increased its holdings in shares of Itron by 62.7% in the third quarter. Handelsbanken Fonder AB now owns 899,789 shares of the scientific and technical instruments company’s stock valued at $96,106,000 after purchasing an additional 346,615 shares during the last quarter. Select Equity Group L.P. lifted its position in Itron by 86.2% during the second quarter. Select Equity Group L.P. now owns 603,877 shares of the scientific and technical instruments company’s stock worth $59,760,000 after buying an additional 279,629 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Itron by 90.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 511,734 shares of the scientific and technical instruments company’s stock valued at $54,658,000 after buying an additional 243,355 shares in the last quarter. Finally, Hood River Capital Management LLC acquired a new stake in shares of Itron in the 2nd quarter worth $22,612,000. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Itron Stock Performance

ITRI opened at $114.76 on Thursday. The stock’s 50 day simple moving average is $108.87 and its 200 day simple moving average is $104.86. 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 stock has a market cap of $5.17 billion, a P/E ratio of 23.38, a P/E/G ratio of 0.86 and a beta of 1.46. Itron, Inc. has a 1-year low of $65.20 and a 1-year high of $124.90.

Itron (NASDAQ:ITRI) last announced its quarterly earnings results 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 business had revenue of $615.46 million during 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 revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter last year, the business posted $0.98 earnings per share. As a group, equities analysts anticipate that Itron, Inc. will post 5.33 EPS for the current fiscal year.

Insider Transactions at Itron

In other news, CEO Thomas Deitrich sold 887 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $102.15, for a total value of $90,607.05. Following the completion of the transaction, the chief executive officer now owns 205,276 shares of the company’s stock, valued at $20,968,943.40. The trade was a 0.43 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Joan S. Hooper sold 509 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $102.15, for a total value of $51,994.35. Following the transaction, the chief financial officer now owns 72,338 shares in the company, valued at $7,389,326.70. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 39,066 shares of company stock valued at $4,092,737 in the last ninety days. Corporate insiders own 1.45% of the company’s stock.

Analyst Upgrades and Downgrades

ITRI has been the subject of a number of recent analyst reports. Guggenheim raised 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 lifted their target price on shares of Itron from $110.00 to $119.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Roth Mkm lifted their price objective on Itron from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Stephens restated an “equal weight” rating and set a $110.00 target price on shares of Itron in a report on Monday, August 5th. Finally, BNP Paribas began coverage on Itron in a research report on Thursday, September 5th. They issued 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 company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $123.92.

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.