Bayesian Capital Management LP Grows Stock Holdings in Itron, Inc. (NASDAQ:ITRI)

Bayesian Capital Management LP grew its holdings in shares of Itron, Inc. (NASDAQ:ITRI) by 29.7% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 5,245 shares of the scientific and technical instruments company’s stock after purchasing an additional 1,200 shares during the period. Bayesian Capital Management LP’s holdings in Itron were worth $485,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ITRI. SG Americas Securities LLC grew its stake in Itron by 99.6% during the fourth quarter. SG Americas Securities LLC now owns 7,879 shares of the scientific and technical instruments company’s stock worth $595,000 after buying an additional 3,932 shares during the period. Raymond James & Associates lifted its position in shares of Itron by 51.6% during the fourth quarter. Raymond James & Associates now owns 47,621 shares of the scientific and technical instruments company’s stock worth $3,596,000 after purchasing an additional 16,208 shares in the last quarter. Braun Stacey Associates Inc. raised its holdings in Itron by 140.6% in the fourth quarter. Braun Stacey Associates Inc. now owns 216,188 shares of the scientific and technical instruments company’s stock valued at $16,324,000 after acquiring an additional 126,328 shares in the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Itron by 13.7% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 6,194 shares of the scientific and technical instruments company’s stock valued at $472,000 after acquiring an additional 744 shares in the last quarter. Finally, Wakefield Asset Management LLLP raised its holdings in Itron by 10.5% in the fourth quarter. Wakefield Asset Management LLLP now owns 12,036 shares of the scientific and technical instruments company’s stock valued at $909,000 after acquiring an additional 1,144 shares in the last quarter. 96.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Itron news, CEO Thomas Deitrich sold 873 shares of Itron stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $108.87, for a total value of $95,043.51. Following the completion of the sale, the chief executive officer now directly owns 206,163 shares in the company, valued at $22,444,965.81. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, SVP Christopher E. Ware sold 311 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $106.84, for a total transaction of $33,227.24. Following the transaction, the senior vice president now owns 15,371 shares of the company’s stock, valued at $1,642,237.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Thomas Deitrich sold 873 shares of the business’s stock in a transaction on Friday, May 24th. The stock was sold at an average price of $108.87, for a total transaction of $95,043.51. Following the transaction, the chief executive officer now directly owns 206,163 shares in the company, valued at approximately $22,444,965.81. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,775 shares of company stock worth $192,613. 1.45% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Canaccord Genuity Group increased their target price on shares of Itron from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Stephens upped their price target on shares of Itron from $85.00 to $110.00 and gave the stock an “equal weight” rating in a research report on Monday, May 6th. Oppenheimer upped their price target on shares of Itron from $110.00 to $112.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. JPMorgan Chase & Co. increased their target price on shares of Itron from $104.00 to $112.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Finally, Guggenheim upgraded shares of Itron from a “neutral” rating to a “buy” rating and set a $130.00 target price for the company in a research report on Thursday, July 11th. Four equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $112.09.

Itron Trading Up 1.2 %

Shares of ITRI traded up $1.22 during midday trading on Wednesday, hitting $102.76. The stock had a trading volume of 47,362 shares, compared to its average volume of 503,714. Itron, Inc. has a fifty-two week low of $56.11 and a fifty-two week high of $111.00. The business has a 50-day simple moving average of $103.73 and a two-hundred day simple moving average of $93.47. The firm has a market cap of $4.71 billion, a P/E ratio of 29.18, a price-to-earnings-growth ratio of 0.97 and a beta of 1.45. The company has a current ratio of 1.90, a quick ratio of 1.40 and a debt-to-equity ratio of 0.33.

Itron (NASDAQ:ITRI) last posted its quarterly earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 EPS for the quarter, topping the consensus estimate of $0.85 by $0.39. The business had revenue of $603.44 million during the quarter, compared to analysts’ expectations of $579.49 million. Itron had a net margin of 7.03% and a return on equity of 14.51%. The firm’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period last year, the company posted $0.49 earnings per share. As a group, equities analysts forecast that Itron, Inc. will post 4.1 EPS for the current 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.