AlphaQuest LLC Raises Holdings in Itron, Inc. $ITRI

AlphaQuest LLC lifted its position in shares of Itron, Inc. (NASDAQ:ITRI) by 218.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,996 shares of the scientific and technical instruments company’s stock after purchasing an additional 7,541 shares during the quarter. AlphaQuest LLC’s holdings in Itron were worth $1,370,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Twin Peaks Wealth Advisors LLC purchased a new position in Itron during the second quarter worth approximately $30,000. Bessemer Group Inc. increased its stake in shares of Itron by 125.7% during the second quarter. Bessemer Group Inc. now owns 255 shares of the scientific and technical instruments company’s stock worth $34,000 after purchasing an additional 142 shares in the last quarter. Salomon & Ludwin LLC acquired a new position in shares of Itron during the 3rd quarter worth about $42,000. Northwestern Mutual Wealth Management Co. increased its stake in Itron by 343.6% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 346 shares of the scientific and technical instruments company’s stock worth $46,000 after buying an additional 268 shares in the last quarter. Finally, EverSource Wealth Advisors LLC boosted its position in Itron by 25.3% during the second quarter. EverSource Wealth Advisors LLC now owns 401 shares of the scientific and technical instruments company’s stock worth $53,000 after acquiring an additional 81 shares during the last quarter. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. Johnson Rice upgraded Itron from an “accumulate” rating to a “buy” rating and set a $130.00 target price on the stock in a report on Monday, January 5th. Argus reissued a “hold” rating on shares of Itron in a research note on Tuesday, November 4th. Oppenheimer dropped their target price on Itron from $145.00 to $125.00 and set an “outperform” rating for the company in a report on Tuesday. Robert W. Baird reiterated a “neutral” rating and set a $118.00 price target (down previously from $137.00) on shares of Itron in a report on Friday, October 31st. Finally, Zacks Research lowered shares of Itron from a “hold” rating to a “strong sell” rating in a report on Wednesday. Eight equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $136.10.

Itron Price Performance

Shares of ITRI opened at $99.08 on Friday. The firm has a 50-day simple moving average of $97.30 and a two-hundred day simple moving average of $113.60. The stock has a market cap of $4.54 billion, a PE ratio of 17.82, a P/E/G ratio of 0.57 and a beta of 1.49. Itron, Inc. has a 1-year low of $90.11 and a 1-year high of $142.00. The company has a debt-to-equity ratio of 0.46, a current ratio of 2.17 and a quick ratio of 1.91.

Itron (NASDAQ:ITRI) last posted its earnings results on Thursday, October 30th. The scientific and technical instruments company reported $1.54 earnings per share for the quarter, beating the consensus estimate of $1.48 by $0.06. Itron had a net margin of 10.69% and a return on equity of 17.82%. The firm had revenue of $581.63 million during the quarter, compared to the consensus estimate of $578.49 million. During the same quarter last year, the firm earned $1.84 EPS. The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. As a group, analysts forecast that Itron, Inc. will post 5.33 EPS for the current year.

Insider Activity at Itron

In other Itron news, SVP Donald L. Reeves III sold 536 shares of Itron stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $96.51, for a total value of $51,729.36. Following the completion of the transaction, the senior vice president directly owned 19,068 shares of the company’s stock, valued at $1,840,252.68. The trade was a 2.73% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Christopher E. Ware sold 343 shares of the firm’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $96.51, for a total transaction of $33,102.93. Following the completion of the transaction, the senior vice president directly owned 18,774 shares of the company’s stock, valued at approximately $1,811,878.74. The trade was a 1.79% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 2,971 shares of company stock worth $286,731 over the last ninety days. Company insiders own 1.45% of the company’s stock.

Itron Company 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.