Itron, Inc. (NASDAQ:ITRI) Shares Sold by Perpetual Ltd

Perpetual Ltd trimmed its holdings in Itron, Inc. (NASDAQ:ITRI) by 35.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,550 shares of the scientific and technical instruments company’s stock after selling 31,576 shares during the quarter. Perpetual Ltd owned approximately 0.13% of Itron worth $6,140,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Continuum Advisory LLC raised its holdings in shares of Itron by 42.1% in the third quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company’s stock valued at $40,000 after buying an additional 102 shares during the last quarter. Quarry LP increased its position in 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 acquiring an additional 122 shares during the period. Covestor Ltd raised its stake in Itron by 26.1% during the 3rd quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock valued at $57,000 after acquiring an additional 111 shares during the last quarter. Farther Finance Advisors LLC lifted its position in Itron by 21.7% during the 3rd quarter. Farther Finance Advisors LLC now owns 724 shares of the scientific and technical instruments company’s stock worth $77,000 after acquiring an additional 129 shares during the period. Finally, Contravisory Investment Management Inc. increased its holdings in shares of Itron by 154.9% in the fourth quarter. Contravisory Investment Management Inc. now owns 864 shares of the scientific and technical instruments company’s stock valued at $94,000 after purchasing an additional 525 shares during the period. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on ITRI. Roth Mkm increased 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. Piper Sandler raised their target price on shares of Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. TD Cowen boosted their price target on shares of Itron from $125.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Robert W. Baird raised 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. Finally, Janney Montgomery Scott began coverage on Itron in a research report on Friday, September 27th. They set a “buy” rating and a $131.00 target price on the stock. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $123.92.

Itron Price Performance

Shares of NASDAQ ITRI opened at $107.07 on Wednesday. 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’s 50-day moving average price is $111.85 and its 200 day moving average price is $106.77. Itron, Inc. has a 52 week low of $71.00 and a 52 week high of $124.90. The stock has a market cap of $4.83 billion, a price-to-earnings ratio of 21.94, a PEG ratio of 0.87 and a beta of 1.47.

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

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.