Sanctuary Advisors LLC Buys 11,363 Shares of Itron, Inc. (NASDAQ:ITRI)

Sanctuary Advisors LLC raised its position in shares of Itron, Inc. (NASDAQ:ITRI) by 454.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 13,862 shares of the scientific and technical instruments company’s stock after acquiring an additional 11,363 shares during the quarter. Sanctuary Advisors LLC’s holdings in Itron were worth $1,481,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quarry LP grew its position in shares of Itron by 29.0% in the 3rd quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company’s stock worth $48,000 after buying an additional 102 shares during the period. Continuum Advisory LLC boosted its stake in Itron by 42.1% during the third quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company’s stock worth $40,000 after acquiring an additional 102 shares in the last quarter. Stifel Financial Corp grew its holdings in Itron by 2.2% in the third quarter. Stifel Financial Corp now owns 4,921 shares of the scientific and technical instruments company’s stock worth $526,000 after purchasing an additional 108 shares during the period. Covestor Ltd increased its stake in shares of Itron by 26.1% during 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 in the last quarter. Finally, Farther Finance Advisors LLC lifted its holdings in shares of 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. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Itron Stock Up 1.0 %

Shares of Itron stock opened at $109.02 on Friday. Itron, Inc. has a twelve month low of $67.21 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’s 50 day moving average is $113.20 and its 200 day moving average is $105.94. The company has a market cap of $4.92 billion, a price-to-earnings ratio of 22.34, a price-to-earnings-growth ratio of 0.86 and a beta of 1.46.

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

Insiders Place Their Bets

In other news, CEO Thomas Deitrich sold 37,500 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $104.83, for a total value 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 document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 1.45% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. BNP Paribas assumed coverage on Itron in a research report on Thursday, September 5th. They set an “outperform” rating and a $133.00 price objective for the company. Piper Sandler raised 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. Guggenheim lifted their price target on Itron from $128.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Janney Montgomery Scott assumed coverage on shares of Itron in a research report on Friday, September 27th. They set a “buy” rating and a $131.00 price objective on the stock. Finally, Roth Mkm lifted their target price on shares of Itron from $125.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Itron presently has an average rating of “Moderate Buy” and an average 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.