Deutsche Bank AG Acquires 15,717 Shares of Itron, Inc. (NASDAQ:ITRI)

Deutsche Bank AG increased its holdings in shares of Itron, Inc. (NASDAQ:ITRI) by 6.4% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 260,360 shares of the scientific and technical instruments company’s stock after acquiring an additional 15,717 shares during the period. Deutsche Bank AG’s holdings in Itron were worth $28,270,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. GeoWealth Management LLC increased its stake in Itron by 4,580.0% in the fourth quarter. GeoWealth Management LLC now owns 234 shares of the scientific and technical instruments company’s stock worth $25,000 after purchasing an additional 229 shares during the period. Proficio Capital Partners LLC bought a new position in shares of Itron in the fourth quarter worth about $30,000. Hager Investment Management Services LLC purchased a new position in Itron in the 4th quarter worth about $67,000. CoreCap Advisors LLC lifted its holdings in Itron by 25.5% during the 4th quarter. CoreCap Advisors LLC now owns 616 shares of the scientific and technical instruments company’s stock valued at $67,000 after buying an additional 125 shares in the last quarter. Finally, Contravisory Investment Management Inc. boosted its position in Itron by 154.9% in the 4th quarter. Contravisory Investment Management Inc. now owns 864 shares of the scientific and technical instruments company’s stock valued at $94,000 after buying an additional 525 shares during the period. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Wall Street Analyst Weigh In

ITRI has been the topic of a number of research reports. Guggenheim reaffirmed a “buy” rating and set a $133.00 target price on shares of Itron in a research report on Thursday, April 17th. Piper Sandler decreased their target price on Itron from $124.00 to $121.00 and set a “neutral” rating for the company in a research report on Monday, May 5th. Canaccord Genuity Group upped their target price on Itron from $130.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. StockNews.com lowered Itron from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 1st. Finally, Oppenheimer lifted their price objective on Itron from $124.00 to $131.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $127.36.

Itron Trading Up 2.4%

ITRI opened at $115.10 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 firm has a market cap of $5.25 billion, a price-to-earnings ratio of 23.59, a PEG ratio of 0.81 and a beta of 1.31. Itron, Inc. has a 12 month low of $90.11 and a 12 month high of $124.90. The stock has a fifty day moving average price of $104.68 and a 200-day moving average price of $107.76.

Itron (NASDAQ:ITRI) last announced its earnings results on Thursday, May 1st. The scientific and technical instruments company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.22. The business had revenue of $607.15 million during the quarter, compared to the consensus estimate of $608.86 million. Itron had a net margin of 9.37% and a return on equity of 19.03%. The firm’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $1.24 earnings per share. As a group, equities research analysts anticipate that Itron, Inc. will post 5.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Itron news, CAO David Marshall Wright sold 317 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $29,449.30. Following the completion of the sale, the chief accounting officer now owns 8,108 shares of the company’s stock, valued at approximately $753,233.20. This trade represents a 3.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Christopher E. Ware sold 648 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $60,199.20. Following the sale, the senior vice president now owns 20,326 shares in the company, valued at $1,888,285.40. The trade was a 3.09% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,187 shares of company stock worth $945,620 in the last 90 days. 1.45% of the stock is owned by corporate insiders.

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.