AlphaQuest LLC Sells 998 Shares of Itron, Inc. $ITRI

AlphaQuest LLC decreased its position in shares of Itron, Inc. (NASDAQ:ITRI) by 22.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,455 shares of the scientific and technical instruments company’s stock after selling 998 shares during the quarter. AlphaQuest LLC’s holdings in Itron were worth $455,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ITRI. Allspring Global Investments Holdings LLC raised its holdings in Itron by 54.0% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,278 shares of the scientific and technical instruments company’s stock worth $658,000 after purchasing an additional 2,201 shares during the last quarter. Principal Financial Group Inc. raised its holdings in Itron by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 270,672 shares of the scientific and technical instruments company’s stock worth $28,356,000 after purchasing an additional 6,700 shares during the last quarter. Wayfinding Financial LLC bought a new position in Itron during the 1st quarter worth approximately $45,000. Braun Stacey Associates Inc. raised its holdings in Itron by 0.4% during the 1st quarter. Braun Stacey Associates Inc. now owns 217,562 shares of the scientific and technical instruments company’s stock worth $22,792,000 after purchasing an additional 793 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in Itron by 119.7% during the 1st quarter. Envestnet Asset Management Inc. now owns 77,060 shares of the scientific and technical instruments company’s stock worth $8,073,000 after purchasing an additional 41,984 shares during the last quarter. Institutional investors own 96.19% of the company’s stock.

Itron Stock Performance

ITRI opened at $138.18 on Thursday. The company has a current ratio of 2.04, a quick ratio of 1.75 and a debt-to-equity ratio of 0.48. The company’s fifty day moving average price is $125.48 and its two-hundred day moving average price is $123.06. Itron, Inc. has a 1-year low of $90.11 and a 1-year high of $140.04. The company has a market cap of $6.32 billion, a price-to-earnings ratio of 23.62, a PEG ratio of 0.74 and a beta of 1.48.

Itron (NASDAQ:ITRI) last issued its quarterly earnings data on Thursday, July 31st. The scientific and technical instruments company reported $1.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.29. The firm had revenue of $606.76 million during the quarter, compared to analysts’ expectations of $610.36 million. Itron had a net margin of 11.05% and a return on equity of 19.69%. The business’s revenue was down .4% on a year-over-year basis. During the same period last year, the company earned $1.21 earnings per share. On average, analysts expect that Itron, Inc. will post 5.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ITRI has been the subject of several analyst reports. Stephens restated an “equal weight” rating and set a $130.00 price target on shares of Itron in a report on Tuesday, October 7th. JPMorgan Chase & Co. raised their price objective on shares of Itron from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Wall Street Zen downgraded shares of Itron from a “buy” rating to a “hold” rating in a research report on Saturday, October 18th. Johnson Rice downgraded shares of Itron from a “buy” rating to an “accumulate” rating in a research report on Friday, August 1st. Finally, Guggenheim reaffirmed a “buy” rating and set a $155.00 price objective (up previously from $133.00) on shares of Itron in a research report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $138.10.

Insiders Place Their Bets

In other Itron news, SVP Christopher E. Ware sold 351 shares of Itron stock in a transaction dated Monday, August 25th. The stock was sold at an average price of $125.31, for a total transaction of $43,983.81. Following the completion of the transaction, the senior vice president owned 19,117 shares in the company, valued at approximately $2,395,551.27. The trade was a 1.80% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Joan S. Hooper sold 970 shares of Itron stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $125.31, for a total value of $121,550.70. Following the transaction, the chief financial officer owned 88,394 shares of the company’s stock, valued at $11,076,652.14. This trade represents a 1.09% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 3,037 shares of company stock worth $380,566 in the last 90 days. Company insiders own 1.45% of the company’s stock.

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.