Squarepoint Ops LLC Boosts Holdings in Itron, Inc. (NASDAQ:ITRI)

Squarepoint Ops LLC grew its position in shares of Itron, Inc. (NASDAQ:ITRI) by 52.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 139,538 shares of the scientific and technical instruments company’s stock after purchasing an additional 48,084 shares during the period. Squarepoint Ops LLC owned approximately 0.31% of Itron worth $15,151,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Tema Etfs LLC purchased a new stake in shares of Itron during the fourth quarter valued at approximately $517,000. SIR Capital Management L.P. raised its stake in shares of Itron by 25.6% during the fourth quarter. SIR Capital Management L.P. now owns 59,305 shares of the scientific and technical instruments company’s stock valued at $6,439,000 after purchasing an additional 12,105 shares during the period. Royal Bank of Canada raised its stake in shares of Itron by 0.5% during the fourth quarter. Royal Bank of Canada now owns 222,894 shares of the scientific and technical instruments company’s stock valued at $24,202,000 after purchasing an additional 1,014 shares during the period. Raiffeisen Bank International AG bought a new stake in shares of Itron in the fourth quarter worth $27,619,000. Finally, ProShare Advisors LLC increased its stake in shares of Itron by 42.4% in the fourth quarter. ProShare Advisors LLC now owns 13,613 shares of the scientific and technical instruments company’s stock worth $1,478,000 after buying an additional 4,050 shares during the last quarter. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on ITRI shares. StockNews.com lowered shares of Itron from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 1st. Piper Sandler dropped their price target on shares of Itron from $124.00 to $121.00 and set a “neutral” rating for the company in a research note on Monday, May 5th. Guggenheim restated a “buy” rating and issued a $133.00 price target on shares of Itron in a research note on Thursday, April 17th. Canaccord Genuity Group lifted their price target on shares of Itron from $130.00 to $132.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Finally, Oppenheimer lifted their price target on shares of Itron from $124.00 to $131.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $127.36.

Insider Activity

In other news, SVP Christopher E. Ware sold 648 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $92.90, for a total transaction of $60,199.20. Following the completion of the transaction, the senior vice president now owns 20,326 shares of the company’s stock, valued at approximately $1,888,285.40. The trade was a 3.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO David Marshall Wright sold 317 shares of the business’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $92.90, for a total transaction of $29,449.30. Following the transaction, the chief accounting officer now directly owns 8,108 shares of the company’s stock, valued at approximately $753,233.20. This trade represents a 3.76% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,187 shares of company stock valued at $945,620. 1.45% of the stock is currently owned by company insiders.

Itron Stock Performance

Itron stock opened at $114.80 on Thursday. The company has a market cap of $5.23 billion, a PE ratio of 23.52, a P/E/G ratio of 0.81 and a beta of 1.31. The company has a fifty day moving average price of $105.92 and a two-hundred day moving average price of $108.05. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83. Itron, Inc. has a 12 month low of $90.11 and a 12 month high of $124.90.

Itron (NASDAQ:ITRI) last released its quarterly earnings data on Thursday, May 1st. The scientific and technical instruments company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.22. The firm had revenue of $607.15 million during the quarter, compared to the consensus estimate of $608.86 million. Itron had a net margin of 9.37% and a return on equity of 19.03%. The firm’s revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.24 earnings per share. Research analysts expect that Itron, Inc. will post 5.33 earnings per share for the current year.

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.