Federated Hermes Inc. Purchases 5,003 Shares of Itron, Inc. (NASDAQ:ITRI)

Federated Hermes Inc. boosted its position in Itron, Inc. (NASDAQ:ITRI) by 3.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 139,147 shares of the scientific and technical instruments company’s stock after acquiring an additional 5,003 shares during the period. Federated Hermes Inc. owned 0.31% of Itron worth $10,507,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ITRI. Arizona State Retirement System grew its holdings in Itron by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 12,933 shares of the scientific and technical instruments company’s stock valued at $783,000 after buying an additional 180 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in Itron by 0.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 41,337 shares of the scientific and technical instruments company’s stock valued at $2,504,000 after buying an additional 180 shares in the last quarter. Pathstone Family Office LLC grew its holdings in Itron by 2.0% during the 3rd quarter. Pathstone Family Office LLC now owns 9,275 shares of the scientific and technical instruments company’s stock valued at $562,000 after buying an additional 185 shares in the last quarter. Guinness Atkinson Asset Management Inc grew its holdings in Itron by 1.2% during the 3rd quarter. Guinness Atkinson Asset Management Inc now owns 18,882 shares of the scientific and technical instruments company’s stock valued at $1,144,000 after buying an additional 229 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. grew its holdings in Itron by 1.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 19,549 shares of the scientific and technical instruments company’s stock valued at $1,184,000 after buying an additional 236 shares in the last quarter. 96.19% of the stock is currently owned by institutional investors.

Itron Stock Up 3.7 %

Shares of ITRI opened at $94.84 on Wednesday. The firm has a market cap of $4.35 billion, a P/E ratio of 45.09, a P/E/G ratio of 0.99 and a beta of 1.41. The stock has a 50 day simple moving average of $88.21 and a two-hundred day simple moving average of $75.27. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.95 and a quick ratio of 1.43. Itron, Inc. has a 1 year low of $50.60 and a 1 year high of $96.73.

Itron (NASDAQ:ITRI) last issued its earnings results on Monday, February 26th. The scientific and technical instruments company reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.75 by $0.48. The business had revenue of $577.17 million during the quarter, compared to analyst estimates of $569.90 million. Itron had a return on equity of 12.27% and a net margin of 4.46%. Itron’s revenue for the quarter was up 23.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.71 earnings per share. On average, analysts forecast that Itron, Inc. will post 3.61 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ITRI has been the subject of a number of recent analyst reports. Raymond James lowered Itron from an “outperform” rating to a “market perform” rating in a report on Thursday, January 4th. Canaccord Genuity Group raised Itron from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $68.00 to $105.00 in a report on Tuesday, February 27th. TheStreet raised Itron from a “c” rating to a “b-” rating in a report on Monday, February 26th. Roth Mkm reissued a “buy” rating and set a $102.00 price objective on shares of Itron in a report on Tuesday. Finally, Piper Sandler cut their price objective on Itron from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Thursday, April 11th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat.com, Itron has an average rating of “Moderate Buy” and a consensus target price of $97.60.

Insiders Place Their Bets

In other Itron news, SVP Donald L. Reeves III sold 383 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total value of $28,866.71. Following the completion of the sale, the senior vice president now owns 8,708 shares in the company, valued at $656,321.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Itron news, CEO Thomas Deitrich sold 1,912 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total value of $144,107.44. Following the completion of the sale, the chief executive officer now owns 169,073 shares in the company, valued at $12,743,032.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Donald L. Reeves III sold 383 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total value of $28,866.71. Following the completion of the sale, the senior vice president now owns 8,708 shares of the company’s stock, valued at approximately $656,321.96. The disclosure for this sale can be found here. Insiders sold a total of 30,467 shares of company stock valued at $2,752,520 over the last quarter. 1.45% of the stock is owned by corporate insiders.

About Itron

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.