Contravisory Investment Management Inc. Increases Stock Holdings in Itron, Inc. (NASDAQ:ITRI)

Contravisory Investment Management Inc. increased its position in shares of Itron, Inc. (NASDAQ:ITRI) by 154.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 864 shares of the scientific and technical instruments company’s stock after acquiring an additional 525 shares during the period. Contravisory Investment Management Inc.’s holdings in Itron were worth $94,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC raised its position in shares of Itron by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,074,940 shares of the scientific and technical instruments company’s stock worth $114,835,000 after buying an additional 5,630 shares in the last quarter. Handelsbanken Fonder AB raised its stake in Itron by 62.7% in the third quarter. Handelsbanken Fonder AB now owns 899,789 shares of the scientific and technical instruments company’s stock valued at $96,106,000 after purchasing an additional 346,615 shares in the last quarter. Select Equity Group L.P. lifted its holdings in shares of Itron by 86.2% during the 2nd quarter. Select Equity Group L.P. now owns 603,877 shares of the scientific and technical instruments company’s stock worth $59,760,000 after acquiring an additional 279,629 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Itron by 90.7% during the third quarter. Assenagon Asset Management S.A. now owns 511,734 shares of the scientific and technical instruments company’s stock worth $54,658,000 after purchasing an additional 243,355 shares during the last quarter. Finally, Vontobel Holding Ltd. lifted its position in Itron by 1.5% in the 3rd quarter. Vontobel Holding Ltd. now owns 429,945 shares of the scientific and technical instruments company’s stock worth $45,922,000 after buying an additional 6,310 shares during the last quarter. 96.19% of the stock is currently owned by hedge funds and other institutional investors.

Itron Stock Performance

NASDAQ:ITRI opened at $104.45 on Friday. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. Itron, Inc. has a twelve month low of $67.21 and a twelve month high of $124.90. The stock has a market cap of $4.71 billion, a P/E ratio of 21.40, a price-to-earnings-growth ratio of 0.85 and a beta of 1.47. The firm’s fifty day simple moving average is $112.88 and its 200 day simple moving average is $106.52.

Itron (NASDAQ:ITRI) last issued 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. Itron had a net margin of 9.37% and a return on equity of 19.03%. The business had revenue of $615.46 million during the quarter, compared to analyst estimates of $596.41 million. During the same period last year, the business posted $0.98 earnings per share. Itron’s quarterly revenue was up 9.8% compared to the same quarter last year. As a group, research analysts predict that Itron, Inc. will post 5.33 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on ITRI shares. Janney Montgomery Scott assumed coverage on shares of Itron in a research note on Friday, September 27th. They set a “buy” rating and a $131.00 price target on the stock. Robert W. Baird raised their price objective on Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. TD Cowen lifted their price objective on Itron from $125.00 to $136.00 and gave the stock a “buy” rating in a report on Friday, November 1st. Roth Mkm increased their target price on Itron from $125.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Piper Sandler lifted 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. Three research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Itron has an average rating of “Moderate Buy” and a consensus target price of $123.92.

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.