Janney Montgomery Scott LLC Buys 190 Shares of Itron, Inc. (NASDAQ:ITRI)

Janney Montgomery Scott LLC lifted its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 1.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,425 shares of the scientific and technical instruments company’s stock after acquiring an additional 190 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Itron were worth $1,220,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in ITRI. Silvercrest Asset Management Group LLC bought a new stake in shares of Itron during the 1st quarter worth about $401,000. Handelsbanken Fonder AB boosted its stake in shares of 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 acquiring an additional 346,615 shares in the last quarter. Select Equity Group L.P. boosted its stake in shares of 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 worth $59,760,000 after acquiring an additional 279,629 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in Itron by 90.7% during 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 period. Finally, Hood River Capital Management LLC bought a new stake in Itron during the 2nd quarter valued at approximately $22,612,000. Institutional investors own 96.19% of the company’s stock.

Insider Activity

In other news, CEO Thomas Deitrich sold 37,500 shares of Itron stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total value of $3,931,125.00. Following the completion of the sale, the chief executive officer now directly 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Donald L. Reeves III sold 4,210 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total value of $425,210.00. Following the completion of the transaction, the senior vice president now owns 16,269 shares in the company, valued at $1,643,169. This represents a 20.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 43,276 shares of company stock valued at $4,517,947. Company insiders own 1.45% of the company’s stock.

Itron Trading Down 2.3 %

ITRI stock opened at $114.90 on Friday. The business has a fifty day moving average price of $107.85 and a 200 day moving average price of $104.45. Itron, Inc. has a fifty-two week low of $64.96 and a fifty-two week high of $124.90. The stock has a market capitalization of $5.18 billion, a price-to-earnings ratio of 23.55, a P/E/G ratio of 0.89 and a beta of 1.46. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83.

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, beating analysts’ consensus estimates of $1.13 by $0.71. Itron had a return on equity of 19.03% and a net margin of 9.37%. The firm had revenue of $615.46 million during the quarter, compared to analysts’ expectations of $596.41 million. During the same period last year, the firm posted $0.98 EPS. The business’s revenue was up 9.8% on a year-over-year basis. Analysts expect that Itron, Inc. will post 5.33 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have commented on the company. Robert W. Baird raised their price objective on Itron from $123.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Stephens reiterated an “equal weight” rating and issued a $110.00 price objective on shares of Itron in a research report on Monday, August 5th. Roth Mkm raised their price objective on Itron from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Janney Montgomery Scott initiated coverage on Itron in a research report on Friday, September 27th. They issued a “buy” rating and a $131.00 price objective for the company. Finally, Guggenheim increased their target price on Itron from $128.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.92.

About Itron

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.