UBS Group AG Grows Stake in Itron, Inc. (NASDAQ:ITRI)

UBS Group AG increased its position in Itron, Inc. (NASDAQ:ITRIFree Report) by 126.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 84,301 shares of the scientific and technical instruments company’s stock after purchasing an additional 47,056 shares during the quarter. UBS Group AG owned approximately 0.19% of Itron worth $6,366,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC purchased a new position in shares of Itron in the 4th quarter valued at approximately $27,000. Covestor Ltd raised its stake in Itron by 9,150.0% during the third quarter. Covestor Ltd now owns 555 shares of the scientific and technical instruments company’s stock valued at $34,000 after buying an additional 549 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new position in Itron during the fourth quarter valued at $50,000. BI Asset Management Fondsmaeglerselskab A S purchased a new position in Itron during the fourth quarter valued at $81,000. Finally, Quadrant Capital Group LLC raised its stake in Itron by 89.3% during the fourth quarter. Quadrant Capital Group LLC now owns 1,344 shares of the scientific and technical instruments company’s stock valued at $101,000 after buying an additional 634 shares during the last quarter. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Insider Buying and Selling at Itron

In other Itron news, CEO Thomas Deitrich sold 873 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $108.87, for a total transaction of $95,043.51. Following the completion of the sale, the chief executive officer now owns 206,163 shares of the company’s stock, valued at $22,444,965.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Itron news, CEO Thomas Deitrich sold 873 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was sold at an average price of $108.87, for a total transaction of $95,043.51. Following the completion of the sale, the chief executive officer now owns 206,163 shares of the company’s stock, valued at $22,444,965.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Christopher E. Ware sold 311 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were sold at an average price of $106.84, for a total value of $33,227.24. Following the sale, the senior vice president now directly owns 15,371 shares of the company’s stock, valued at approximately $1,642,237.64. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,775 shares of company stock valued at $192,613. Company insiders own 1.45% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Canaccord Genuity Group upgraded Itron from a “hold” rating to a “buy” rating and lifted their price objective for the company from $68.00 to $105.00 in a research note on Tuesday, February 27th. Oppenheimer lifted their price objective on Itron from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Piper Sandler cut Itron from an “overweight” rating to a “neutral” rating and set a $109.00 price objective for the company. in a research note on Tuesday, May 21st. Robert W. Baird lifted their target price on Itron from $108.00 to $115.00 and gave the stock an “outperform” rating in a report on Wednesday, March 13th. Finally, Canaccord Genuity Group lifted their target price on Itron from $105.00 to $115.00 and gave the stock a “buy” rating in a report on Friday, May 3rd. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Itron has a consensus rating of “Moderate Buy” and a consensus target price of $104.18.

Read Our Latest Analysis on ITRI

Itron Stock Performance

Shares of ITRI opened at $108.05 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.90 and a quick ratio of 1.40. Itron, Inc. has a one year low of $56.11 and a one year high of $111.00. The firm has a market capitalization of $4.96 billion, a P/E ratio of 31.05, a PEG ratio of 1.02 and a beta of 1.47. The business has a fifty day moving average of $100.03 and a 200 day moving average of $85.20.

Itron (NASDAQ:ITRIGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 EPS for the quarter, topping the consensus estimate of $0.85 by $0.39. Itron had a return on equity of 14.51% and a net margin of 7.03%. The company had revenue of $603.44 million during the quarter, compared to analyst estimates of $579.49 million. During the same quarter in the previous year, the company posted $0.49 earnings per share. Itron’s revenue was up 22.0% compared to the same quarter last year. As a group, sell-side analysts anticipate that Itron, Inc. will post 3.95 EPS for the current year.

About Itron

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding ITRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Itron, Inc. (NASDAQ:ITRIFree Report).

Institutional Ownership by Quarter for Itron (NASDAQ:ITRI)

Receive News & Ratings for Itron Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Itron and related companies with MarketBeat.com's FREE daily email newsletter.