Walleye Capital LLC Sells 20,469 Shares of Itron, Inc. (NASDAQ:ITRI)

Walleye Capital LLC decreased its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 69.5% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 8,981 shares of the scientific and technical instruments company’s stock after selling 20,469 shares during the quarter. Walleye Capital LLC’s holdings in Itron were worth $959,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Handelsbanken Fonder AB boosted its position in shares of Itron by 62.7% during the third quarter. Handelsbanken Fonder AB now owns 899,789 shares of the scientific and technical instruments company’s stock worth $96,106,000 after acquiring an additional 346,615 shares during the last quarter. Select Equity Group L.P. boosted its position in shares of 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 acquiring an additional 279,629 shares during the last quarter. Assenagon Asset Management S.A. boosted its position in shares of Itron by 90.7% during the third quarter. Assenagon Asset Management S.A. now owns 511,734 shares of the scientific and technical instruments company’s stock worth $54,658,000 after acquiring an additional 243,355 shares during the last quarter. Vontobel Holding Ltd. boosted its position in shares of Itron by 1.5% during the third quarter. Vontobel Holding Ltd. now owns 429,945 shares of the scientific and technical instruments company’s stock worth $45,922,000 after acquiring an additional 6,310 shares during the last quarter. Finally, Pinnacle Associates Ltd. boosted its position in shares of Itron by 9.3% during the third quarter. Pinnacle Associates Ltd. now owns 398,372 shares of the scientific and technical instruments company’s stock worth $42,550,000 after acquiring an additional 34,014 shares during the last quarter. Institutional investors own 96.19% of the company’s stock.

Insider Activity at Itron

In other news, CEO Thomas Deitrich sold 37,500 shares of the stock in a transaction on 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 transaction, the chief executive officer now owns 205,276 shares of the company’s stock, valued at approximately $21,519,083.08. This represents a 15.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 1.45% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Oppenheimer increased their target price on Itron from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Piper Sandler increased their target price on Itron from $110.00 to $119.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Guggenheim increased their target price on Itron from $128.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Robert W. Baird increased their target price on Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, TD Cowen increased their target price on Itron from $125.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, Itron currently has a consensus rating of “Moderate Buy” and an average target price of $123.92.

Itron Stock Performance

ITRI stock opened at $115.92 on Friday. The firm has a market cap of $5.23 billion, a price-to-earnings ratio of 23.75, a PEG ratio of 0.89 and a beta of 1.46. Itron, Inc. has a twelve month low of $67.21 and a twelve month high of $124.90. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. The business’s fifty day simple moving average is $112.09 and its two-hundred day simple moving average is $105.69.

Itron (NASDAQ:ITRI) last announced 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. Itron had a net margin of 9.37% and a return on equity of 19.03%. The company had revenue of $615.46 million during the quarter, compared to analyst estimates of $596.41 million. During the same quarter last year, the business posted $0.98 EPS. The firm’s revenue for the quarter was up 9.8% on a year-over-year basis. Analysts predict that Itron, Inc. will post 5.33 earnings per share for the current year.

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.