Coldstream Capital Management Inc. Makes New Investment in Itron, Inc. (NASDAQ:ITRI)

Coldstream Capital Management Inc. acquired a new stake in Itron, Inc. (NASDAQ:ITRI) in the 3rd quarter, Holdings Channel reports. The firm acquired 3,091 shares of the scientific and technical instruments company’s stock, valued at approximately $350,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Sculptor Capital LP acquired a new position in Itron during the 2nd quarter valued at $5,255,000. Skandinaviska Enskilda Banken AB publ increased its holdings in shares of Itron by 97.8% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 10,207 shares of the scientific and technical instruments company’s stock worth $1,012,000 after purchasing an additional 5,047 shares during the period. Driehaus Capital Management LLC acquired a new position in shares of Itron during the second quarter valued at about $18,758,000. Intech Investment Management LLC lifted its stake in shares of Itron by 105.9% in the third quarter. Intech Investment Management LLC now owns 19,444 shares of the scientific and technical instruments company’s stock valued at $2,077,000 after buying an additional 10,001 shares during the period. Finally, Victory Capital Management Inc. grew its position in Itron by 1,331.3% during the second quarter. Victory Capital Management Inc. now owns 200,400 shares of the scientific and technical instruments company’s stock worth $19,832,000 after buying an additional 186,399 shares in the last quarter. Institutional investors and hedge funds own 96.19% of the company’s stock.

Insider Transactions at Itron

In related news, CEO Thomas Deitrich sold 37,500 shares of the company’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 owns 205,276 shares in the company, valued at $21,519,083.08. This represents a 15.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 1.45% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Piper Sandler upped 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. Robert W. Baird raised their target price on Itron from $123.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Guggenheim boosted their price target on shares of Itron from $128.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Oppenheimer increased their price objective on shares of Itron from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Roth Mkm lifted their target price 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. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.92.

Itron Price Performance

NASDAQ:ITRI opened at $111.94 on Monday. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. The firm has a market cap of $5.05 billion, a PE ratio of 22.94, a price-to-earnings-growth ratio of 0.86 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’s 50-day moving average price is $112.89 and its two-hundred day moving average price is $105.82.

Itron (NASDAQ:ITRI) last announced its 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. Itron had a return on equity of 19.03% and a net margin of 9.37%. The business had revenue of $615.46 million for the quarter, compared to the consensus estimate of $596.41 million. During the same period in the previous year, the business earned $0.98 EPS. Itron’s revenue was up 9.8% compared to the same quarter last year. On average, equities analysts anticipate that Itron, Inc. will post 5.33 EPS for the current fiscal year.

Itron Company 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.