Burney Co. Has $955,000 Position in Itron, Inc. (NASDAQ:ITRI)

Burney Co. increased its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 129.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,795 shares of the scientific and technical instruments company’s stock after purchasing an additional 4,955 shares during the quarter. Burney Co.’s holdings in Itron were worth $955,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Sculptor Capital LP acquired a new position in shares of Itron during the second quarter worth $5,255,000. Skandinaviska Enskilda Banken AB publ increased its holdings in Itron by 97.8% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 10,207 shares of the scientific and technical instruments company’s stock worth $1,012,000 after purchasing an additional 5,047 shares in the last quarter. Driehaus Capital Management LLC bought a new position in Itron in the second quarter valued at about $18,758,000. Intech Investment Management LLC boosted its stake in shares of Itron by 105.9% during the third quarter. Intech Investment Management LLC now owns 19,444 shares of the scientific and technical instruments company’s stock valued at $2,077,000 after purchasing an additional 10,001 shares in the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of Itron by 0.5% during the third quarter. Geode Capital Management LLC now owns 1,074,940 shares of the scientific and technical instruments company’s stock worth $114,835,000 after purchasing an additional 5,630 shares during the last quarter. Institutional investors own 96.19% of the company’s stock.

Itron Stock Down 0.2 %

Shares of Itron stock opened at $104.45 on Friday. The stock’s 50-day moving average is $112.88 and its 200 day moving average is $106.52. Itron, Inc. has a one year low of $67.21 and a one year high of $124.90. The firm has a market cap of $4.71 billion, a price-to-earnings ratio of 21.40, a PEG ratio of 0.85 and a beta of 1.47. 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 posted its quarterly earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.71. The firm 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 for the quarter was up 9.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.98 EPS. Equities research analysts anticipate that Itron, Inc. will post 5.33 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Oppenheimer raised their price objective on shares of Itron from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Robert W. Baird lifted their price target on shares of Itron from $123.00 to $132.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Janney Montgomery Scott began coverage on shares of Itron in a research note on Friday, September 27th. They issued a “buy” rating and a $131.00 price objective on the stock. Guggenheim raised their target price on Itron from $128.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Finally, TD Cowen upped their price target on Itron from $125.00 to $136.00 and gave the company a “buy” rating in a research 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’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $123.92.

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.