CenterBook Partners LP Makes New $1.48 Million Investment in Itron, Inc. $ITRI

CenterBook Partners LP acquired a new position in shares of Itron, Inc. (NASDAQ:ITRI) in the third quarter, HoldingsChannel.com reports. The firm acquired 17,149 shares of the scientific and technical instruments company’s stock, valued at approximately $1,481,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Kestra Advisory Services LLC acquired a new stake in shares of Itron in the 3rd quarter valued at approximately $255,000. Covestor Ltd raised its stake in Itron by 70.0% in the third quarter. Covestor Ltd now owns 668 shares of the scientific and technical instruments company’s stock valued at $58,000 after buying an additional 275 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in Itron by 2.2% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 13,997 shares of the scientific and technical instruments company’s stock valued at $1,209,000 after purchasing an additional 300 shares during the last quarter. Pinnacle Associates Ltd. boosted its holdings in shares of Itron by 5.2% during the 3rd quarter. Pinnacle Associates Ltd. now owns 289,185 shares of the scientific and technical instruments company’s stock worth $24,968,000 after buying an additional 14,344 shares during the period. Finally, New Wave Wealth Advisors LLC bought a new stake in shares of Itron during the third quarter worth approximately $702,000. Institutional investors and hedge funds own 96.19% of the company’s stock.

Insider Activity at Itron

In related news, CFO Joan Hooper sold 455 shares of the firm’s stock in a transaction that occurred on Monday, August 24th. The shares were sold at an average price of $98.79, for a total value of $44,949.45. Following the completion of the transaction, the chief financial officer directly owned 118,440 shares of the company’s stock, valued at approximately $11,700,687.60. This trade represents a 0.38% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Justin Patrick sold 10,210 shares of the firm’s stock in a transaction on Thursday, September 3rd. The stock was sold at an average price of $97.36, for a total value of $994,045.60. Following the completion of the transaction, the senior vice president directly owned 22,065 shares of the company’s stock, valued at $2,148,248.40. The trade was a 31.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 19,233 shares of company stock worth $1,886,033 in the last ninety days. Insiders own 1.77% of the company’s stock.

Wall Street Analysts Forecast Growth

ITRI has been the topic of several research reports. Zacks Research lowered shares of Itron from a “strong-buy” rating to a “hold” rating in a report on Monday, October 19th. Robert W. Baird set a $125.00 target price on shares of Itron in a research note on Wednesday, July 29th. Seaport Research Partners restated a “buy” rating and set a $150.00 price target on shares of Itron in a report on Wednesday, July 29th. JPMorgan Chase & Co. boosted their target price on Itron from $107.00 to $109.00 and gave the company an “overweight” rating in a research report on Wednesday, October 28th. Finally, Wall Street Zen upgraded shares of Itron from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Itron currently has an average rating of “Moderate Buy” and a consensus target price of $129.20.

Itron Stock Performance

Shares of ITRI stock opened at $99.97 on Tuesday. Itron, Inc. has a 52 week low of $77.77 and a 52 week high of $108.20. The company has a debt-to-equity ratio of 0.92, a quick ratio of 2.36 and a current ratio of 2.83. The firm’s 50-day simple moving average is $91.14 and its two-hundred day simple moving average is $91.06. The firm has a market cap of $4.38 billion, a price-to-earnings ratio of 13.58, a P/E/G ratio of 1.15 and a beta of 1.33.

Itron (NASDAQ:ITRI) last announced its quarterly earnings data on Tuesday, October 27th. The scientific and technical instruments company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.38. The business had revenue of $599.33 million during the quarter, compared to analyst estimates of $595.50 million. Itron had a return on equity of 20.11% and a net margin of 12.05%. Itron’s revenue was up 3.0% compared to the same quarter last year. During the same period in the prior year, the company earned $1.54 earnings per share. As a group, equities analysts forecast that Itron, Inc. will post 6.78 earnings per share for the current year.

Itron Profile