Mount Yale Investment Advisors LLC Acquires New Holdings in Itron, Inc. (NASDAQ:ITRI)

Mount Yale Investment Advisors LLC bought a new position in shares of Itron, Inc. (NASDAQ:ITRI) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,633 shares of the scientific and technical instruments company’s stock, valued at approximately $286,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Erste Asset Management GmbH purchased a new stake in Itron during the third quarter valued at approximately $38,534,000. Handelsbanken Fonder AB boosted its position in shares of Itron by 62.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 899,789 shares of the scientific and technical instruments company’s stock worth $96,106,000 after purchasing an additional 346,615 shares in the last quarter. Assenagon Asset Management S.A. grew its stake in Itron by 90.7% during the 3rd 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 buying an additional 243,355 shares during the last quarter. Franklin Resources Inc. increased its position in Itron by 611.9% during the 3rd quarter. Franklin Resources Inc. now owns 282,828 shares of the scientific and technical instruments company’s stock valued at $31,128,000 after buying an additional 243,102 shares in the last quarter. Finally, Banco Santander S.A. raised its stake in Itron by 4,133.3% in the third quarter. Banco Santander S.A. now owns 190,500 shares of the scientific and technical instruments company’s stock valued at $20,347,000 after buying an additional 186,000 shares during the last quarter. Institutional investors own 96.19% of the company’s stock.

Itron Trading Up 0.3 %

Itron stock opened at $105.90 on Thursday. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91. The firm has a market cap of $4.78 billion, a PE ratio of 21.70, a P/E/G ratio of 0.88 and a beta of 1.47. The stock’s 50 day simple moving average is $110.69 and its two-hundred day simple moving average is $106.95. Itron, Inc. has a 12 month low of $71.00 and a 12 month high of $124.90.

Itron (NASDAQ:ITRI) last announced its quarterly earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.71. Itron had a net margin of 9.37% and a return on equity of 19.03%. The firm had revenue of $615.46 million for the quarter, compared to the consensus estimate of $596.41 million. During the same period in the prior year, the firm posted $0.98 earnings per share. The firm’s quarterly revenue was up 9.8% compared to the same quarter last year. Analysts anticipate that Itron, Inc. will post 5.33 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on ITRI. Robert W. Baird upped their price objective on shares of Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Oppenheimer upped their price target on shares of Itron from $120.00 to $124.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Roth Mkm lifted their price objective on shares of Itron from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. TD Cowen upped their target price on Itron from $125.00 to $136.00 and gave the company a “buy” rating in a research 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 report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $123.92.

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.