Commonwealth Equity Services LLC decreased its position in Itron, Inc. (NASDAQ:ITRI) by 4.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,649 shares of the scientific and technical instruments company’s stock after selling 222 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Itron were worth $351,000 at the end of the most recent quarter.
Other large investors have also recently modified their holdings of the company. Truvestments Capital LLC increased its stake in Itron by 3.4% in the third quarter. Truvestments Capital LLC now owns 5,022 shares of the scientific and technical instruments company’s stock valued at $380,000 after purchasing an additional 164 shares during the last quarter. Vontobel Holding Ltd. increased its stake in Itron by 15.0% in the third quarter. Vontobel Holding Ltd. now owns 365,310 shares of the scientific and technical instruments company’s stock valued at $27,629,000 after purchasing an additional 47,674 shares during the last quarter. Signaturefd LLC increased its stake in Itron by 44.3% in the third quarter. Signaturefd LLC now owns 677 shares of the scientific and technical instruments company’s stock valued at $51,000 after purchasing an additional 208 shares during the last quarter. State of New Jersey Common Pension Fund D increased its stake in Itron by 25.5% in the third quarter. State of New Jersey Common Pension Fund D now owns 34,955 shares of the scientific and technical instruments company’s stock valued at $2,644,000 after purchasing an additional 7,103 shares during the last quarter. Finally, Phoenix Holdings Ltd. purchased a new position in shares of Itron during the third quarter worth approximately $446,000. 96.94% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities analysts have recently issued reports on the stock. Cowen lowered their target price on shares of Itron from $113.00 to $93.00 and set an “outperform” rating on the stock in a research report on Wednesday, October 6th. Piper Sandler lowered shares of Itron from an “overweight” rating to a “neutral” rating and lowered their price objective for the company from $90.00 to $84.00 in a research report on Monday, November 8th. Oppenheimer lowered shares of Itron from an “outperform” rating to a “market perform” rating in a research report on Wednesday, October 6th. Wells Fargo & Company lowered their price objective on shares of Itron from $75.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Monday, January 10th. Finally, Argus lowered shares of Itron from a “buy” rating to a “hold” rating in a research report on Monday, December 20th. Seven research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $88.09.
Itron (NASDAQ:ITRI) last issued its quarterly earnings data on Thursday, November 4th. The scientific and technical instruments company reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.18 by $0.03. The business had revenue of $486.95 million for the quarter, compared to analyst estimates of $526.96 million. Itron had a positive return on equity of 6.31% and a negative net margin of 0.04%. The firm’s revenue for the quarter was down 9.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.61 EPS. On average, equities analysts forecast that Itron, Inc. will post 1.2 earnings per share for the current fiscal year.
In related news, Director Lynda L. Ziegler sold 600 shares of the firm’s stock in a transaction that occurred on Monday, January 3rd. The stock was sold at an average price of $68.80, for a total transaction of $41,280.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.25% of the stock is currently owned by company insiders.
Itron Company Profile
Itron, Inc is a technology and services company, which engages in the provision of solutions that measure, manage, and analyze energy and water use. It operates through the following segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment includes hardware products used for measurement, control, or sensing that do not have communications capability embedded for use with its broader Itron systems.
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