Toronto Dominion Bank Increases Position in Itron, Inc.
Technology and services company, Itron, Inc., has caught the attention of investors as Toronto Dominion Bank buys a new position in shares of the company. According to its most recent Form 13F filing with the SEC, the bank purchased 4,305 shares of Itron’s stock during the fourth quarter at an estimated value of $218,000.
Based in Washington State, Itron is renowned for providing solutions that measure, analyze and manage energy and water use around the world. The Company operates through three key segments: Device Solutions – which includes hardware used to control sensors or measure devices; Networked Solutions – used for monitoring and evaluation in specific markets such as smart cities and smart utilities; and Outcomes – providing analytical data to improve outcomes for customers.
Itron’s innovative approach to technology has seen their stock rise steadily over recent years. As a result, several key players within the finance industry have issued reports on its performance. Among them was StockNews.com who began coverage of Itron on Thursday March 16th giving it a “buy” rating boosting investor confidence.
Robert W. Baird also increased their target price on Itron from $52.00 to $63.00 thereby raising interest levels among investors even further. In contrast however JPMorgan Chase & Co downgraded their outlook on Itron from “neutral” to “underweight”.
Despite these mixed views regarding future growth potential, Stephens maintained their “equal weight” rating on shares of Itron with a $45 average target price suggesting that there is still some room left for growth despite any volatility experienced by shareholders.
In conclusion, while opinions may be mixed regarding where this tech giant may be headed next we can see signs of promise in Toronto Dominion Bank’s decision to invest placing confidence in Itron’s innovative approach towards sustainable technologies.
Reference date: May 12th, 2023.
Itron, Inc.: Energy Management and Analysis Leader on the Rise
Itron, Inc.: Technology and Services Company on the Rise
As the world becomes increasingly conscious of energy conservation, there has been a growing demand for companies that specialize in energy management and analysis. One such company is Itron, Inc., a technology and services company that provides solutions for measuring, managing, and analyzing energy and water use.
The company operates through three distinct segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment handles hardware products used for measurement, control, or sensing that do not have communications capability embedded for use with its broader Itron systems. The Networked Solutions segment focuses on providing communication modules and associated devices to enable secure collection of data from meters. Finally, the Outcomes segment delivers critical outcomes based on analysis of data streams from Itron systems to provide actionable insights.
Despite initially being hit hard by the Covid-19 pandemic in early 2020 due to supply chain disruptions and lower customer demand, Itron has rebounded strongly over the past year. The company’s stock opened at $66.51 on May 12th, up from a low of $39.38 just one year prior.
Investors have taken note of this turnaround as well. Institutional investors currently own an impressive 96.64% of the company’s stock. In addition to large institutional investors increasing their stakes in Itron shares such as Quadrant Capital Group LLC adding an additional 589 shares during Q3 FY20 alone; smaller firms such as Luken Investment Analytics recently acquired a new stake worth $46k.
In addition to investor confidence, Itron’s leadership team has also demonstrated its trust in the company’s future prospects through significant share selling activities in February and March this year – with nine senior executives selling shares valued at over $512k in total.
Despite these divestments by high-ranking staff members however; research analysts remain optimistic about Itron’s outlook citing a string of strong recent quarterly earnings outcomes. During Q1 2023, ITRI posted $0.49 in EPS – an impressive beat over analyst projections.
In the end, with a strong leadership team and top-notch technological solutions, Itron is well positioned to capitalize on the ever-growing need for energy conservation and management. With investors like Quadrant Capital Group LLC and Luken Investment Analytics taking a vested interest in the firm’s future; it is evident that among technology and services companies, Itron is worth keeping an eye on over the coming months.