Centiva Capital LP Purchases 6,686 Shares of Itron, Inc. (NASDAQ:ITRI)

Centiva Capital LP grew its position in shares of Itron, Inc. (NASDAQ:ITRI) by 114.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 12,542 shares of the scientific and technical instruments company’s stock after acquiring an additional 6,686 shares during the quarter. Centiva Capital LP’s holdings in Itron were worth $1,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Covestor Ltd raised its holdings in Itron by 26.1% in the 3rd quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock worth $57,000 after purchasing an additional 111 shares during the period. Quarry LP raised its holdings in Itron by 53.0% in the 2nd quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company’s stock worth $35,000 after purchasing an additional 122 shares during the period. Hexagon Capital Partners LLC raised its holdings in Itron by 85.6% in the 2nd quarter. Hexagon Capital Partners LLC now owns 271 shares of the scientific and technical instruments company’s stock worth $27,000 after purchasing an additional 125 shares during the period. Farther Finance Advisors LLC raised its holdings in Itron by 21.7% in the 3rd quarter. Farther Finance Advisors LLC now owns 724 shares of the scientific and technical instruments company’s stock worth $77,000 after purchasing an additional 129 shares during the period. Finally, Glenmede Trust Co. NA raised its holdings in Itron by 2.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 6,220 shares of the scientific and technical instruments company’s stock worth $664,000 after purchasing an additional 134 shares during the period. 96.19% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Itron news, CEO Thomas Deitrich sold 37,500 shares of the business’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total transaction of $3,931,125.00. Following the completion of the transaction, the chief executive officer now owns 205,276 shares in the company, valued at $21,519,083.08. The trade was a 15.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.45% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Robert W. Baird raised their price target on Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Janney Montgomery Scott assumed coverage on Itron in a report on Friday, September 27th. They set a “buy” rating and a $131.00 price target on the stock. TD Cowen raised their price target on Itron from $125.00 to $136.00 and gave the company a “buy” rating in a report on Friday, November 1st. Piper Sandler raised their price target on Itron from $110.00 to $119.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Guggenheim raised their price target on Itron from $128.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $123.92.

Itron Trading Up 0.0 %

ITRI opened at $118.09 on Thursday. The firm has a market cap of $5.32 billion, a P/E ratio of 24.20, a P/E/G ratio of 0.89 and a beta of 1.46. Itron, Inc. has a 12 month low of $67.21 and a 12 month high of $124.90. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91. The stock has a 50-day moving average of $111.67 and a 200 day moving average of $105.58.

Itron (NASDAQ:ITRI) last released its quarterly earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 EPS for the quarter, topping the consensus estimate of $1.13 by $0.71. The company had revenue of $615.46 million during the quarter, compared to analyst estimates of $596.41 million. Itron had a return on equity of 19.03% and a net margin of 9.37%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same quarter last year, the business posted $0.98 earnings per share. As a group, research analysts forecast that Itron, Inc. will post 5.33 EPS for the current year.

About Itron

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.