Itron, Inc. (NASDAQ:ITRI) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. decreased its position in shares of Itron, Inc. (NASDAQ:ITRI) by 10.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 460,013 shares of the scientific and technical instruments company’s stock after selling 51,721 shares during the period. Assenagon Asset Management S.A.’s holdings in Itron were worth $49,948,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Quarry LP increased its holdings in shares of Itron by 53.0% in the 2nd quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company’s stock valued at $35,000 after acquiring an additional 122 shares during the period. Continuum Advisory LLC grew its position in Itron by 42.1% during the 3rd quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company’s stock worth $40,000 after purchasing an additional 102 shares during the last quarter. Covestor Ltd increased its stake in Itron by 26.1% in the third quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock valued at $57,000 after purchasing an additional 111 shares during the period. Farther Finance Advisors LLC raised its holdings in shares of Itron by 21.7% in the third quarter. Farther Finance Advisors LLC now owns 724 shares of the scientific and technical instruments company’s stock valued at $77,000 after buying an additional 129 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new stake in shares of Itron during the third quarter worth about $103,000. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Analyst Ratings Changes

ITRI has been the subject of several analyst reports. TD Cowen upped their price objective on Itron from $125.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Janney Montgomery Scott began coverage on Itron in a report on Friday, September 27th. They set a “buy” rating and a $131.00 price target for the company. Piper Sandler lifted their price objective on shares of Itron from $110.00 to $119.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Guggenheim upped their price objective on shares of Itron from $128.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, Roth Mkm lifted their target price on shares of Itron from $125.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $123.92.

Itron Stock Down 0.2 %

ITRI stock opened at $104.71 on Thursday. Itron, Inc. has a 52 week low of $67.21 and a 52 week high of $124.90. 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 company has a market cap of $4.72 billion, a P/E ratio of 21.46, a P/E/G ratio of 0.84 and a beta of 1.47. The company’s 50-day moving average price is $113.25 and its 200 day moving average price is $106.53.

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, topping analysts’ consensus estimates of $1.13 by $0.71. The business had revenue of $615.46 million for the quarter, compared to analysts’ expectations of $596.41 million. Itron had a return on equity of 19.03% and a net margin of 9.37%. The company’s revenue was up 9.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.98 EPS. On average, research analysts expect that Itron, Inc. will post 5.33 earnings per share for the current fiscal year.

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.