Beacon Harbor Wealth Advisors Inc. Makes New $5.99 Million Investment in Itron, Inc. (NASDAQ:ITRI)

Beacon Harbor Wealth Advisors Inc. acquired a new stake in Itron, Inc. (NASDAQ:ITRI) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 56,114 shares of the scientific and technical instruments company’s stock, valued at approximately $5,994,000. Beacon Harbor Wealth Advisors Inc. owned 0.12% of Itron at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ITRI. Quarry LP increased its position in Itron by 53.0% in the 2nd quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company’s stock valued at $35,000 after acquiring an additional 122 shares during the period. Hexagon Capital Partners LLC grew its stake in shares of Itron by 85.6% in the 2nd quarter. Hexagon Capital Partners LLC now owns 271 shares of the scientific and technical instruments company’s stock valued at $27,000 after purchasing an additional 125 shares during the last quarter. Farther Finance Advisors LLC increased its holdings in shares of Itron by 21.7% in the third quarter. Farther Finance Advisors LLC now owns 724 shares of the scientific and technical instruments company’s stock valued at $77,000 after purchasing an additional 129 shares during the period. Xponance Inc. raised its stake in shares of Itron by 5.1% during the second quarter. Xponance Inc. now owns 2,910 shares of the scientific and technical instruments company’s stock worth $288,000 after purchasing an additional 142 shares during the last quarter. Finally, Janney Montgomery Scott LLC raised its stake in shares of Itron by 1.7% during the third quarter. Janney Montgomery Scott LLC now owns 11,425 shares of the scientific and technical instruments company’s stock worth $1,220,000 after purchasing an additional 190 shares during the last quarter. 96.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Thomas Deitrich sold 887 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $102.15, for a total value of $90,607.05. Following the completion of the transaction, the chief executive officer now directly owns 205,276 shares of the company’s stock, valued at $20,968,943.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, SVP Donald L. Reeves III sold 4,210 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total transaction of $425,210.00. Following the transaction, the senior vice president now owns 16,269 shares of the company’s stock, valued at approximately $1,643,169. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Thomas Deitrich sold 887 shares of Itron stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $102.15, for a total transaction of $90,607.05. Following the completion of the sale, the chief executive officer now directly owns 205,276 shares of the company’s stock, valued at $20,968,943.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,276 shares of company stock worth $4,515,846 in the last ninety days. Insiders own 1.45% of the company’s stock.

Itron Stock Up 0.7 %

Itron stock opened at $122.93 on Friday. Itron, Inc. has a fifty-two week low of $62.45 and a fifty-two week high of $123.80. The firm has a market capitalization of $5.54 billion, a price-to-earnings ratio of 25.19, a price-to-earnings-growth ratio of 0.86 and a beta of 1.46. The stock’s fifty day moving average is $105.33 and its two-hundred day moving average is $103.37. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36.

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, beating analysts’ consensus estimates of $1.13 by $0.71. The firm had revenue of $615.46 million for the quarter, compared to analysts’ expectations of $596.41 million. Itron had a net margin of 9.37% and a return on equity of 19.03%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.98 EPS. Analysts predict that Itron, Inc. will post 5.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ITRI shares. JPMorgan Chase & Co. boosted their price objective on shares of Itron from $104.00 to $112.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Robert W. Baird boosted their price target on shares of Itron from $123.00 to $132.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Stephens restated an “equal weight” rating and issued a $110.00 price objective on shares of Itron in a research report on Monday, August 5th. BNP Paribas began coverage on Itron in a research report on Thursday, September 5th. They set an “outperform” rating and a $133.00 target price on the stock. Finally, TD Cowen raised their price target on Itron from $125.00 to $136.00 and gave the company a “buy” rating in a 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. Based on data from MarketBeat, Itron has an average rating of “Moderate Buy” and an average price target 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.