Toronto Dominion Bank Lowers Position in Itron, Inc. (NASDAQ:ITRI)

Toronto Dominion Bank decreased its position in shares of Itron, Inc. (NASDAQ:ITRI) by 99.8% during the third quarter, Holdings Channel reports. The fund owned 5,152 shares of the scientific and technical instruments company’s stock after selling 2,999,985 shares during the period. Toronto Dominion Bank’s holdings in Itron were worth $550,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Continuum Advisory LLC lifted its position in Itron by 42.1% during the third quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company’s stock valued at $40,000 after buying an additional 102 shares during the period. Quarry LP increased its stake in shares of Itron by 53.0% in the 2nd quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company’s stock worth $35,000 after acquiring an additional 122 shares in the last quarter. Covestor Ltd lifted its position in Itron by 26.1% during the 3rd quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock valued at $57,000 after acquiring an additional 111 shares during the period. Farther Finance Advisors LLC boosted its stake in Itron by 21.7% during the third quarter. Farther Finance Advisors LLC now owns 724 shares of the scientific and technical instruments company’s stock worth $77,000 after acquiring an additional 129 shares in the last quarter. Finally, CWM LLC grew its holdings in Itron by 315.6% in the second quarter. CWM LLC now owns 881 shares of the scientific and technical instruments company’s stock worth $87,000 after purchasing an additional 669 shares during the period. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Insider Buying and Selling at Itron

In other news, CEO Thomas Deitrich sold 37,500 shares of the business’s stock in a transaction on Tuesday, October 1st. The shares were 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 of the company’s stock, valued at $21,519,083.08. The trade was a 15.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.45% of the stock is owned by corporate insiders.

Itron Stock Performance

ITRI stock opened at $112.99 on Tuesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83. Itron, Inc. has a 1 year low of $67.21 and a 1 year high of $124.90. The company has a market cap of $5.09 billion, a P/E ratio of 23.15, a price-to-earnings-growth ratio of 0.86 and a beta of 1.46. The stock’s fifty day moving average price is $113.04 and its 200-day moving average price is $105.85.

Itron (NASDAQ:ITRI) last announced its earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share (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 business had revenue of $615.46 million for the quarter, compared to analysts’ expectations of $596.41 million. During the same period last year, the firm posted $0.98 earnings per share. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. On average, equities analysts forecast that Itron, Inc. will post 5.33 earnings per share for the current year.

Analysts Set New Price Targets

ITRI has been the topic of several recent research reports. Janney Montgomery Scott initiated coverage on Itron in a research note on Friday, September 27th. They issued a “buy” rating and a $131.00 price target on the stock. Oppenheimer increased their target price on Itron from $120.00 to $124.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Robert W. Baird lifted their price target on Itron from $123.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Roth Mkm increased their price objective on shares of Itron from $125.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, November 1st. Finally, BNP Paribas started coverage on shares of Itron in a report on Thursday, September 5th. They issued an “outperform” rating and a $133.00 target price for the company. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus 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.