Pathstone Holdings LLC Sells 602 Shares of Itron, Inc. (NASDAQ:ITRI)

Pathstone Holdings LLC lowered its stake in Itron, Inc. (NASDAQ:ITRI) by 2.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 22,073 shares of the scientific and technical instruments company’s stock after selling 602 shares during the period. Pathstone Holdings LLC’s holdings in Itron were worth $2,358,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Silvercrest Asset Management Group LLC acquired a new position in shares of Itron during the first quarter valued at $401,000. Handelsbanken Fonder AB raised its holdings in Itron by 62.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 899,789 shares of the scientific and technical instruments company’s stock worth $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 2nd quarter. Select Equity Group L.P. now owns 603,877 shares of the scientific and technical instruments company’s stock valued at $59,760,000 after purchasing an additional 279,629 shares during the period. Assenagon Asset Management S.A. boosted its stake in shares of 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 purchasing an additional 243,355 shares during the last quarter. Finally, Hood River Capital Management LLC acquired a new stake in shares of Itron during the 2nd quarter worth approximately $22,612,000. Institutional investors and hedge funds own 96.19% of the company’s stock.

Insider Activity at Itron

In related news, CEO Thomas Deitrich sold 37,500 shares of the firm’s stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $104.83, for a total value of $3,931,125.00. Following the completion of the transaction, the chief executive officer now owns 205,276 shares of the company’s stock, valued at approximately $21,519,083.08. This trade represents a 15.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.45% of the stock is owned by insiders.

Itron Stock Down 0.2 %

Itron stock opened at $118.70 on Tuesday. The company has a 50 day moving average of $109.53 and a 200-day moving average of $104.97. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. Itron, Inc. has a twelve month low of $65.42 and a twelve month high of $124.90. The stock has a market capitalization of $5.35 billion, a PE ratio of 24.32, a price-to-earnings-growth ratio of 0.89 and a beta of 1.46.

Itron (NASDAQ:ITRI) last announced its earnings results 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. Itron had a net margin of 9.37% and a return on equity of 19.03%. The firm had revenue of $615.46 million during the quarter, compared to analyst estimates of $596.41 million. During the same period in the prior year, the business earned $0.98 EPS. The company’s revenue for the quarter was up 9.8% compared to the same quarter last year. On average, equities research analysts anticipate that Itron, Inc. will post 5.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ITRI shares. Guggenheim raised their price objective on shares of Itron from $128.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, November 6th. 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. Stephens reiterated an “equal weight” rating and issued a $110.00 price objective on shares of Itron in a report on Monday, August 5th. Oppenheimer raised their target price on Itron from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Finally, Piper Sandler upped their price target on Itron from $110.00 to $119.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.92.

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.