Contravisory Investment Management Inc. Raises Position in Itron, Inc. (NASDAQ:ITRI)

Contravisory Investment Management Inc. grew its position in shares of Itron, Inc. (NASDAQ:ITRI) by 154.9% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 864 shares of the scientific and technical instruments company’s stock after purchasing an additional 525 shares during the period. Contravisory Investment Management Inc.’s holdings in Itron were worth $94,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Quarry LP boosted its stake in 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 purchasing an additional 122 shares during the last quarter. Continuum Advisory LLC boosted its holdings in shares of Itron by 42.1% during the 3rd quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company’s stock valued at $40,000 after acquiring an additional 102 shares during the last quarter. Covestor Ltd grew its stake in shares of Itron by 26.1% in the third quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock worth $57,000 after acquiring an additional 111 shares during the period. Farther Finance Advisors LLC lifted its position 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 valued at $77,000 after purchasing an additional 129 shares during the period. Finally, Truvestments Capital LLC purchased a new stake in Itron in the third quarter worth approximately $103,000. Institutional investors own 96.19% of the company’s stock.

Itron Stock Down 0.2 %

Shares of ITRI opened at $104.45 on Friday. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91. Itron, Inc. has a 12-month low of $67.21 and a 12-month high of $124.90. The business’s 50 day moving average is $112.88 and its 200 day moving average is $106.52. The company has a market capitalization of $4.71 billion, a PE ratio of 21.40, a price-to-earnings-growth ratio of 0.85 and a beta of 1.47.

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

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. TD Cowen upped their price objective on Itron from $125.00 to $136.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Roth Mkm boosted 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. Oppenheimer increased their price target on shares of Itron from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Guggenheim boosted their price objective on shares of Itron from $128.00 to $135.00 and gave the company a “buy” rating in a research report on Wednesday, November 6th. Finally, Janney Montgomery Scott began coverage on Itron in a research report on Friday, September 27th. They issued a “buy” rating and a $131.00 price target for the company. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $123.92.

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.