Continuum Advisory LLC Acquires 102 Shares of Itron, Inc. (NASDAQ:ITRI)

Continuum Advisory LLC increased its holdings in shares of Itron, Inc. (NASDAQ:ITRI) by 42.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 344 shares of the scientific and technical instruments company’s stock after buying an additional 102 shares during the period. Continuum Advisory LLC’s holdings in Itron were worth $40,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the business. Quarry LP raised its position in shares of Itron by 53.0% during the 2nd quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company’s stock valued at $35,000 after acquiring an additional 122 shares during the last quarter. Covestor Ltd increased its holdings in Itron by 26.1% in the third quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock valued at $57,000 after purchasing an additional 111 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in Itron by 21.7% during the third quarter. Farther Finance Advisors LLC now owns 724 shares of the scientific and technical instruments company’s stock worth $77,000 after buying an additional 129 shares during the last quarter. CWM LLC grew its position in shares of Itron by 315.6% during the 2nd quarter. CWM LLC now owns 881 shares of the scientific and technical instruments company’s stock worth $87,000 after buying an additional 669 shares during the period. Finally, Truvestments Capital LLC bought a new stake in shares of Itron in the 3rd quarter valued at about $103,000. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on ITRI shares. Oppenheimer lifted their price objective on shares of Itron from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Guggenheim lifted their price target on shares of Itron from $128.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Roth Mkm upped their price objective on shares of Itron from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Piper Sandler lifted their target price on Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, TD Cowen increased their price target on Itron from $125.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $123.92.

Itron Trading Down 2.0 %

NASDAQ:ITRI opened at $111.97 on Friday. The company has a market cap of $5.05 billion, a P/E ratio of 22.94, a price-to-earnings-growth ratio of 0.87 and a beta of 1.46. Itron, Inc. has a twelve month low of $67.21 and a twelve month high of $124.90. The business has a 50 day moving average price of $112.75 and a two-hundred day moving average price of $105.85. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91.

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

Insiders Place Their Bets

In other news, CEO Thomas Deitrich sold 37,500 shares of the business’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $104.83, for a total transaction of $3,931,125.00. Following the transaction, the chief executive officer now directly owns 205,276 shares in the company, valued at $21,519,083.08. The trade was a 15.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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.