Point72 Hong Kong Ltd Trims Stake in Itron, Inc. (NASDAQ:ITRI)

Point72 Hong Kong Ltd lessened its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 27.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,895 shares of the scientific and technical instruments company’s stock after selling 707 shares during the quarter. Point72 Hong Kong Ltd’s holdings in Itron were worth $202,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Erste Asset Management GmbH acquired a new stake in shares of Itron during the third quarter valued at $38,534,000. Edgestream Partners L.P. boosted its stake in shares of Itron by 1,340.9% during the 3rd quarter. Edgestream Partners L.P. now owns 42,161 shares of the scientific and technical instruments company’s stock worth $4,503,000 after purchasing an additional 39,235 shares during the last quarter. PDT Partners LLC grew its holdings in shares of Itron by 348.0% during the third quarter. PDT Partners LLC now owns 37,704 shares of the scientific and technical instruments company’s stock worth $4,027,000 after buying an additional 29,288 shares in the last quarter. Captrust Financial Advisors acquired a new position in shares of Itron in the third quarter valued at approximately $215,000. Finally, Capstone Investment Advisors LLC purchased a new position in shares of Itron during the third quarter valued at approximately $288,000. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Insider Buying and Selling

In other Itron news, CEO Thomas Deitrich sold 37,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total transaction of $3,931,125.00. Following the completion of the sale, the chief executive officer now owns 205,276 shares in the company, valued at $21,519,083.08. This trade represents a 15.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.45% of the stock is currently owned by insiders.

Itron Price Performance

ITRI stock opened at $118.28 on Tuesday. The firm has a market cap of $5.33 billion, a P/E ratio of 24.24, a price-to-earnings-growth ratio of 0.89 and a beta of 1.46. 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, Inc. has a 1 year low of $67.21 and a 1 year high of $124.90. The stock has a 50-day simple moving average of $111.14 and a 200-day simple moving average of $105.43.

Itron (NASDAQ:ITRI) last issued its quarterly earnings data on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share (EPS) for the quarter, beating 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 company had revenue of $615.46 million during the quarter, compared to the consensus estimate of $596.41 million. During the same quarter last year, the company earned $0.98 earnings per share. Itron’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities analysts predict that Itron, Inc. will post 5.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ITRI has been the subject of several analyst reports. BNP Paribas started coverage on Itron in a research note on Thursday, September 5th. They issued an “outperform” rating and a $133.00 target price for the company. Stephens reiterated an “equal weight” rating and set a $110.00 price objective on shares of Itron in a report on Monday, August 5th. Roth Mkm boosted their target price on shares of Itron from $125.00 to $130.00 and gave the company a “buy” rating in a report on Friday, November 1st. TD Cowen lifted their price target on shares of Itron from $125.00 to $136.00 and gave the company a “buy” rating in a report on Friday, November 1st. Finally, Janney Montgomery Scott began coverage on Itron in a report on Friday, September 27th. They set a “buy” rating and a $131.00 price objective for the company. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat, Itron has an average rating of “Moderate Buy” and an average 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.