Systematic Financial Management LP Acquires 14,590 Shares of Itron, Inc. (NASDAQ:ITRI)

Systematic Financial Management LP increased its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 12.2% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 134,362 shares of the scientific and technical instruments company’s stock after buying an additional 14,590 shares during the quarter. Systematic Financial Management LP’s holdings in Itron were worth $14,351,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Sculptor Capital LP bought a new position in shares of Itron in the 2nd quarter valued at $5,255,000. Assenagon Asset Management S.A. raised its position in shares of Itron by 7.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 268,379 shares of the scientific and technical instruments company’s stock worth $26,559,000 after acquiring an additional 19,387 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake in shares of Itron by 97.8% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 10,207 shares of the scientific and technical instruments company’s stock valued at $1,012,000 after buying an additional 5,047 shares during the period. Driehaus Capital Management LLC acquired a new stake in shares of Itron in the 2nd quarter valued at about $18,758,000. Finally, Intech Investment Management LLC grew its stake in shares of Itron by 105.9% in the 3rd quarter. Intech Investment Management LLC now owns 19,444 shares of the scientific and technical instruments company’s stock valued at $2,077,000 after buying an additional 10,001 shares during the period. Institutional investors and hedge funds own 96.19% of the company’s stock.

Insider Activity at Itron

In related news, CEO Thomas Deitrich sold 37,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total value of $3,931,125.00. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.45% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ITRI has been the subject of a number of analyst reports. Janney Montgomery Scott started coverage on Itron in a research note on Friday, September 27th. They set a “buy” rating and a $131.00 price target for the company. Piper Sandler lifted their price target on shares of Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Guggenheim boosted their target price on shares of Itron from $128.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. 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 report on Friday, November 1st. Finally, Oppenheimer boosted their price target on shares of Itron from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Four investment 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 currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.92.

Itron Trading Down 1.9 %

Shares of ITRI opened at $115.80 on Friday. The company has a 50 day simple moving average of $111.92 and a two-hundred day simple moving average of $105.65. Itron, Inc. has a 1 year low of $67.21 and a 1 year high of $124.90. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83. The firm has a market cap of $5.22 billion, a P/E ratio of 23.73, a price-to-earnings-growth ratio of 0.89 and a beta of 1.46.

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