Banco Santander S.A. Buys 186,000 Shares of Itron, Inc. (NASDAQ:ITRI)

Banco Santander S.A. grew its position in Itron, Inc. (NASDAQ:ITRI) by 4,133.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 190,500 shares of the scientific and technical instruments company’s stock after purchasing an additional 186,000 shares during the quarter. Banco Santander S.A. owned approximately 0.42% of Itron worth $20,347,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Intech Investment Management LLC lifted its stake in Itron by 105.9% in the third quarter. Intech Investment Management LLC now owns 19,444 shares of the scientific and technical instruments company’s stock valued at $2,077,000 after buying an additional 10,001 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Itron by 67.7% during the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 40,742 shares of the scientific and technical instruments company’s stock valued at $4,352,000 after buying an additional 16,447 shares during the last quarter. Jennison Associates LLC boosted its holdings in Itron by 5.2% during the 3rd quarter. Jennison Associates LLC now owns 13,650 shares of the scientific and technical instruments company’s stock worth $1,458,000 after acquiring an additional 673 shares during the last quarter. Quest Partners LLC grew its stake in shares of Itron by 35.9% in the 3rd quarter. Quest Partners LLC now owns 9,386 shares of the scientific and technical instruments company’s stock worth $1,003,000 after acquiring an additional 2,481 shares in the last quarter. Finally, Saturna Capital Corp raised its holdings in shares of Itron by 6.1% in the third quarter. Saturna Capital Corp now owns 7,213 shares of the scientific and technical instruments company’s stock valued at $770,000 after purchasing an additional 413 shares during the last quarter. Institutional investors own 96.19% of the company’s stock.

Analysts Set New Price Targets

ITRI has been the subject of several analyst reports. Robert W. Baird increased their price objective on shares of Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. BNP Paribas assumed coverage on shares of Itron in a report on Thursday, September 5th. They issued an “outperform” rating and a $133.00 price target on the stock. 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 report on Friday, November 1st. Piper Sandler upped their target price on Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, Guggenheim lifted their price target on Itron from $128.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, November 6th. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $123.92.

Itron Trading Up 0.6 %

NASDAQ:ITRI opened at $114.76 on Thursday. The business has a fifty day moving average price of $108.87 and a 200-day moving average price of $104.86. Itron, Inc. has a one year low of $65.20 and a one year high of $124.90. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83. The firm has a market capitalization of $5.17 billion, a price-to-earnings ratio of 23.38, a price-to-earnings-growth ratio of 0.86 and a beta of 1.46.

Itron (NASDAQ:ITRI) last posted its quarterly earnings data on Thursday, October 31st. The scientific and technical instruments company reported $1.84 EPS for the quarter, topping the consensus estimate of $1.13 by $0.71. Itron had a return on equity of 19.03% and a net margin of 9.37%. The firm had revenue of $615.46 million for 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. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. Sell-side analysts forecast that Itron, Inc. will post 5.33 EPS for the current year.

Insider Activity

In other news, CFO Joan S. Hooper sold 509 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $102.15, for a total value of $51,994.35. Following the completion of the sale, the chief financial officer now owns 72,338 shares in the company, valued at approximately $7,389,326.70. This trade represents a 0.70 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Thomas Deitrich sold 37,500 shares of Itron stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $104.83, for a total value of $3,931,125.00. Following the completion of the sale, the chief executive officer now owns 205,276 shares of the company’s stock, valued at $21,519,083.08. The trade was a 15.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 39,066 shares of company stock worth $4,092,737. 1.45% of the stock is currently owned by insiders.

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.