Dimensional Fund Advisors LP Boosts Stake in Itron, Inc. $ITRI

Dimensional Fund Advisors LP increased its position in shares of Itron, Inc. (NASDAQ:ITRI) by 20.9% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,536,081 shares of the scientific and technical instruments company’s stock after buying an additional 265,039 shares during the quarter. Dimensional Fund Advisors LP owned about 3.46% of Itron worth $137,659,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Private Trust Co. NA increased its holdings in shares of Itron by 112.4% in the 4th quarter. Private Trust Co. NA now owns 274 shares of the scientific and technical instruments company’s stock valued at $25,000 after acquiring an additional 145 shares during the period. Employees Retirement System of Texas purchased a new stake in shares of Itron in the third quarter valued at about $32,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Itron by 29.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 443 shares of the scientific and technical instruments company’s stock worth $41,000 after buying an additional 101 shares during the period. Advisory Services Network LLC purchased a new position in shares of Itron during the third quarter worth about $49,000. Finally, EverSource Wealth Advisors LLC grew its holdings in shares of 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 buying an additional 81 shares during the last quarter. Institutional investors and hedge funds own 96.19% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on ITRI shares. JPMorgan Chase & Co. reduced their price objective on Itron from $133.00 to $113.00 and set an “overweight” rating for the company in a research note on Thursday, April 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Itron in a research note on Friday, May 8th. TD Cowen dropped their target price on Itron from $145.00 to $130.00 and set a “buy” rating on the stock in a report on Wednesday, April 29th. Roth Capital restated a “buy” rating and set a $136.00 price target on shares of Itron in a research note on Wednesday, April 29th. Finally, Zacks Research downgraded Itron from a “hold” rating to a “strong sell” rating in a report on Friday, July 17th. Eight research analysts have rated the stock with a Buy rating, three have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $131.22.

Itron Price Performance

Shares of ITRI opened at $84.78 on Tuesday. The firm has a market capitalization of $3.76 billion, a PE ratio of 13.52, a P/E/G ratio of 0.74 and a beta of 1.32. The stock’s 50 day moving average is $83.04 and its two-hundred day moving average is $89.73. Itron, Inc. has a twelve month low of $77.77 and a twelve month high of $142.00. The company has a current ratio of 2.66, a quick ratio of 2.24 and a debt-to-equity ratio of 0.97.

Itron (NASDAQ:ITRI) last posted its quarterly earnings results on Tuesday, April 28th. The scientific and technical instruments company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.26 by $0.23. Itron had a return on equity of 19.54% and a net margin of 12.31%.The business had revenue of $586.98 million during the quarter, compared to analysts’ expectations of $572.04 million. During the same period last year, the firm earned $1.52 EPS. The company’s quarterly revenue was down 3.3% compared to the same quarter last year. Research analysts anticipate that Itron, Inc. will post 6.01 earnings per share for the current year.

Insiders Place Their Bets

In related news, SVP Donald L. Reeves III sold 319 shares of Itron stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $84.37, for a total transaction of $26,914.03. Following the completion of the transaction, the senior vice president directly owned 29,100 shares of the company’s stock, valued at approximately $2,455,167. The trade was a 1.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP John F. Marcolini sold 322 shares of the business’s stock in a transaction on Tuesday, May 26th. The stock was sold at an average price of $84.37, for a total value of $27,167.14. Following the sale, the senior vice president owned 24,689 shares in the company, valued at approximately $2,083,010.93. The trade was a 1.29% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 3,946 shares of company stock worth $324,420. 1.77% of the stock is owned by company insiders.

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.