Oliver Luxxe Assets LLC Grows Position in Itron, Inc. (NASDAQ:ITRI)

Oliver Luxxe Assets LLC raised its position in Itron, Inc. (NASDAQ:ITRI) by 163.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 22,488 shares of the scientific and technical instruments company’s stock after purchasing an additional 13,942 shares during the quarter. Oliver Luxxe Assets LLC’s holdings in Itron were worth $2,402,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Itron by 45.4% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 56,195 shares of the scientific and technical instruments company’s stock valued at $4,243,000 after buying an additional 17,539 shares during the period. Los Angeles Capital Management LLC purchased a new stake in shares of Itron during the 1st quarter valued at about $2,002,000. GAMMA Investing LLC raised its holdings in shares of Itron by 32.7% during the 1st quarter. GAMMA Investing LLC now owns 491 shares of the scientific and technical instruments company’s stock valued at $45,000 after buying an additional 121 shares during the period. Contravisory Investment Management Inc. raised its holdings in shares of Itron by 61.5% during the 1st quarter. Contravisory Investment Management Inc. now owns 344 shares of the scientific and technical instruments company’s stock valued at $32,000 after buying an additional 131 shares during the period. Finally, AlphaMark Advisors LLC purchased a new stake in shares of Itron during the 1st quarter valued at about $373,000. 96.19% of the stock is currently owned by hedge funds and other institutional investors.

Itron Price Performance

Shares of ITRI opened at $108.30 on Monday. The company has a market cap of $4.97 billion, a P/E ratio of 31.12, a PEG ratio of 0.91 and a beta of 1.47. The stock has a fifty day moving average price of $101.49 and a 200 day moving average price of $101.18. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.16 and a quick ratio of 2.61. Itron, Inc. has a 12 month low of $56.11 and a 12 month high of $113.07.

Itron (NASDAQ:ITRI) last issued its quarterly earnings data on Thursday, August 1st. The scientific and technical instruments company reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.25. The firm had revenue of $609.07 million during the quarter, compared to the consensus estimate of $599.25 million. Itron had a return on equity of 16.42% and a net margin of 7.98%. The firm’s revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.65 EPS. On average, research analysts forecast that Itron, Inc. will post 4.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ITRI has been the topic of several analyst reports. Guggenheim upgraded Itron from a “neutral” rating to a “buy” rating and set a $130.00 price objective on the stock in a report on Thursday, July 11th. Piper Sandler lifted their price objective on Itron from $109.00 to $110.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. BNP Paribas initiated coverage on Itron in a report on Thursday, September 5th. They set an “outperform” rating and a $133.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on Itron from $104.00 to $112.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Finally, Oppenheimer lifted their price objective on Itron from $110.00 to $112.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $119.67.

Insider Buying and Selling

In related news, CEO Thomas Deitrich sold 887 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $102.15, for a total transaction of $90,607.05. Following the completion of the transaction, the chief executive officer now directly owns 205,276 shares in the company, valued at $20,968,943.40. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other 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 value of $51,994.35. Following the completion of the transaction, the chief financial officer now owns 72,338 shares of the company’s stock, valued at approximately $7,389,326.70. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Thomas Deitrich sold 887 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 value of $90,607.05. Following the completion of 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 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 43,276 shares of company stock worth $4,515,846 in the last three months. 1.45% of the stock is owned by insiders.

Itron 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.