Federated Hermes Inc. Grows Position in Itron, Inc. (NASDAQ:ITRI)

Federated Hermes Inc. raised its position in shares of Itron, Inc. (NASDAQ:ITRI) by 3.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 139,147 shares of the scientific and technical instruments company’s stock after purchasing an additional 5,003 shares during the quarter. Federated Hermes Inc.’s holdings in Itron were worth $10,507,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Itron by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,668,071 shares of the scientific and technical instruments company’s stock valued at $343,372,000 after buying an additional 142,564 shares in the last quarter. Raymond James & Associates grew its holdings in Itron by 51.6% during the 4th quarter. Raymond James & Associates now owns 47,621 shares of the scientific and technical instruments company’s stock valued at $3,596,000 after buying an additional 16,208 shares in the last quarter. Trexquant Investment LP grew its holdings in Itron by 48.8% during the 3rd quarter. Trexquant Investment LP now owns 57,431 shares of the scientific and technical instruments company’s stock valued at $3,479,000 after buying an additional 18,842 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new position in Itron during the 4th quarter valued at approximately $210,000. Finally, Hsbc Holdings PLC boosted its holdings in shares of Itron by 495.8% in the 3rd quarter. Hsbc Holdings PLC now owns 21,086 shares of the scientific and technical instruments company’s stock worth $1,280,000 after purchasing an additional 17,547 shares during the period. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Itron Stock Performance

Shares of Itron stock opened at $94.84 on Wednesday. The stock’s fifty day moving average is $88.21 and its two-hundred day moving average is $75.27. The company has a market capitalization of $4.35 billion, a PE ratio of 45.09, a price-to-earnings-growth ratio of 0.99 and a beta of 1.41. The company has a quick ratio of 1.43, a current ratio of 1.95 and a debt-to-equity ratio of 0.34. Itron, Inc. has a 52 week low of $50.60 and a 52 week high of $96.73.

Itron (NASDAQ:ITRI) last announced its quarterly earnings data on Monday, February 26th. The scientific and technical instruments company reported $1.23 EPS for the quarter, beating the consensus estimate of $0.75 by $0.48. Itron had a return on equity of 12.27% and a net margin of 4.46%. The company had revenue of $577.17 million for the quarter, compared to the consensus estimate of $569.90 million. During the same quarter in the prior year, the company posted $0.71 EPS. Itron’s quarterly revenue was up 23.5% on a year-over-year basis. As a group, analysts expect that Itron, Inc. will post 3.61 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ITRI shares. Canaccord Genuity Group raised Itron from a “hold” rating to a “buy” rating and boosted their target price for the company from $68.00 to $105.00 in a research report on Tuesday, February 27th. Piper Sandler cut their target price on Itron from $105.00 to $103.00 and set an “overweight” rating on the stock in a research report on Thursday, April 11th. Robert W. Baird boosted their target price on Itron from $108.00 to $115.00 and gave the company an “outperform” rating in a research report on Wednesday, March 13th. JPMorgan Chase & Co. boosted their target price on Itron from $77.00 to $92.00 and gave the company a “neutral” rating in a research report on Wednesday, March 13th. Finally, Oppenheimer raised Itron from a “market perform” rating to an “outperform” rating and set a $81.00 target price on the stock in a research report on Friday, January 19th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $97.60.

Insiders Place Their Bets

In other Itron news, SVP Donald L. Reeves III sold 383 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total value of $28,866.71. Following the completion of the sale, the senior vice president now directly owns 8,708 shares in the company, valued at approximately $656,321.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Itron news, SVP Donald L. Reeves III sold 502 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $91.02, for a total value of $45,692.04. Following the completion of the sale, the senior vice president now directly owns 16,427 shares in the company, valued at approximately $1,495,185.54. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Donald L. Reeves III sold 383 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total value of $28,866.71. Following the completion of the sale, the senior vice president now owns 8,708 shares of the company’s stock, valued at $656,321.96. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,467 shares of company stock worth $2,752,520. 1.45% of the stock is currently owned by company insiders.

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.