Renaissance Technologies LLC Boosts Holdings in Itron, Inc. $ITRI

Renaissance Technologies LLC lifted its holdings in Itron, Inc. (NASDAQ:ITRI) by 10.1% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 461,761 shares of the scientific and technical instruments company’s stock after acquiring an additional 42,300 shares during the quarter. Renaissance Technologies LLC’s holdings in Itron were worth $41,388,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EverSource Wealth Advisors LLC raised its position in Itron by 25.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 401 shares of the scientific and technical instruments company’s stock worth $53,000 after purchasing an additional 81 shares during the period. Northwestern Mutual Wealth Management Co. lifted its stake in Itron by 29.5% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 443 shares of the scientific and technical instruments company’s stock worth $41,000 after purchasing an additional 101 shares during the last quarter. Impact Partnership Wealth LLC boosted its position in Itron by 4.7% during the first quarter. Impact Partnership Wealth LLC now owns 2,661 shares of the scientific and technical instruments company’s stock valued at $239,000 after buying an additional 119 shares during the period. Xponance LLC boosted its position in Itron by 3.2% during the fourth quarter. Xponance LLC now owns 3,877 shares of the scientific and technical instruments company’s stock valued at $360,000 after buying an additional 120 shares during the period. Finally, Private Trust Co. NA grew its stake in shares of Itron by 112.4% during the fourth quarter. Private Trust Co. NA now owns 274 shares of the scientific and technical instruments company’s stock valued at $25,000 after buying an additional 145 shares during the last quarter. Institutional investors own 96.19% of the company’s stock.

Itron Price Performance

ITRI stock opened at $84.78 on Tuesday. The stock has a market capitalization of $3.76 billion, a price-to-earnings ratio of 13.52, a PEG ratio of 0.74 and a beta of 1.32. The firm’s 50-day moving average price is $83.04 and its two-hundred day moving average price is $89.73. The company has a current ratio of 2.66, a quick ratio of 2.24 and a debt-to-equity ratio of 0.97. Itron, Inc. has a 12-month low of $77.77 and a 12-month high of $142.00.

Itron (NASDAQ:ITRI) last posted its earnings results on Tuesday, April 28th. The scientific and technical instruments company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.23. The company had revenue of $586.98 million during the quarter, compared to analyst estimates of $572.04 million. Itron had a net margin of 12.31% and a return on equity of 19.54%. Itron’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the prior year, the business posted $1.52 earnings per share. As a group, equities analysts predict that Itron, Inc. will post 6.01 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Oppenheimer lifted their price objective on Itron from $133.00 to $135.00 and gave the stock an “outperform” rating in a report on Thursday, April 16th. Zacks Research cut Itron from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Raymond James Financial assumed coverage on Itron in a research report on Tuesday, April 21st. They set an “underperform” rating on the stock. JPMorgan Chase & Co. lowered their price objective on Itron from $133.00 to $113.00 and set an “overweight” rating for the company in a research report on Thursday, April 16th. Finally, Stephens reissued an “overweight” rating and set a $130.00 price objective on shares of Itron in a research note on Wednesday, May 20th. Eight analysts have rated the stock with a Buy rating, three have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Itron presently has a consensus rating of “Hold” and an average price target of $131.22.

Insider Activity at Itron

In related news, CFO Joan S. Hooper sold 442 shares of the business’s stock in a transaction dated Tuesday, May 26th. The stock was sold at an average price of $84.37, for a total transaction of $37,291.54. Following the transaction, the chief financial officer owned 117,478 shares in the company, valued at $9,911,618.86. The trade was a 0.37% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP John F. Marcolini sold 322 shares of the company’s stock in a transaction that occurred on Tuesday, May 26th. The shares were sold at an average price of $84.37, for a total value of $27,167.14. Following the transaction, the senior vice president directly owned 24,689 shares of the company’s stock, valued at $2,083,010.93. The trade was a 1.29% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 3,946 shares of company stock worth $324,420 in the last 90 days. Company insiders own 1.77% of the company’s stock.

Itron Profile

Itron, Inc (NASDAQ: ITRI) is a global technology company that develops innovative solutions to measure, manage and analyze the use of energy and water. Its comprehensive portfolio includes smart meters, data collection devices, communication networks and advanced software applications designed to optimize utility operations and foster sustainable resource management. The company’s offerings enable utilities and cities to accurately monitor consumption patterns, streamline billing processes and improve grid reliability.

Itron’s product lineup spans a range of hardware and software solutions, from residential and commercial smart meters to meter data management systems (MDMS), networked communication platforms and analytics tools.