Itron, Inc. (NASDAQ:ITRI) Position Boosted by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its holdings in Itron, Inc. (NASDAQ:ITRI) by 67.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 40,742 shares of the scientific and technical instruments company’s stock after purchasing an additional 16,447 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.09% of Itron worth $4,352,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Covestor Ltd increased its stake in Itron by 26.1% in the 3rd quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock valued at $57,000 after buying an additional 111 shares during the period. Quarry LP increased its stake in shares of Itron by 53.0% in the second quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company’s stock worth $35,000 after acquiring an additional 122 shares during the last quarter. Hexagon Capital Partners LLC raised its holdings in shares of Itron by 85.6% during the second quarter. Hexagon Capital Partners LLC now owns 271 shares of the scientific and technical instruments company’s stock worth $27,000 after acquiring an additional 125 shares in the last quarter. Farther Finance Advisors LLC boosted 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 last quarter. Finally, Xponance Inc. grew its stake in Itron by 5.1% in the second quarter. Xponance Inc. now owns 2,910 shares of the scientific and technical instruments company’s stock valued at $288,000 after purchasing an additional 142 shares in the last quarter. 96.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Itron news, CFO Joan S. Hooper sold 509 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $102.15, for a total transaction of $51,994.35. Following the completion of the transaction, the chief financial officer now directly owns 72,338 shares in the company, valued at $7,389,326.70. This represents a 0.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Thomas Deitrich sold 887 shares of Itron stock in a transaction on Monday, August 26th. The shares were sold at an average price of $102.15, for a total value of $90,607.05. Following the transaction, the chief executive officer now directly owns 205,276 shares of the company’s stock, valued at approximately $20,968,943.40. The trade was a 0.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 39,066 shares of company stock worth $4,092,737. 1.45% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ITRI. Piper Sandler raised their price target on Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Guggenheim raised 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. TD Cowen boosted their target price on shares of Itron from $125.00 to $136.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Janney Montgomery Scott initiated coverage on shares of Itron in a report on Friday, September 27th. They set a “buy” rating and a $131.00 price target on the stock. Finally, Stephens reiterated an “equal weight” rating and issued a $110.00 price objective on shares of Itron in a report on Monday, August 5th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $123.92.

Itron Stock Up 2.2 %

ITRI stock opened at $118.93 on Friday. Itron, Inc. has a twelve month low of $65.42 and a twelve month high of $124.90. 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 company has a market cap of $5.36 billion, a PE ratio of 24.37, a price-to-earnings-growth ratio of 0.87 and a beta of 1.46. The business’s 50-day simple moving average is $109.53 and its 200 day simple moving average is $105.02.

Itron (NASDAQ:ITRI) last announced its quarterly earnings data on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.71. The company had revenue of $615.46 million for 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%. Itron’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.98 EPS. On average, research analysts anticipate that Itron, Inc. will post 5.33 earnings per share for the current 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.