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Should You Invest in Itron (ITRI)?

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White Brook Capital Partners, an investment management firm, released its third-quarter 2022 investor letter. The same can be downloaded here. Year to date, the fund performed in line with the indexes and returned -21.75% net compared to a -21.52% return for the S&P 400 Index and a -23.87% return for the S&P 500 Index. In addition, please check the fund’s top five holdings to know its best picks in 2022.

White Brook Capital discussed stocks like Itron, Inc. (NASDAQ:ITRI) in the Q3 2022 investor letter. Headquartered in Liberty Lake, Washington, Itron, Inc. (NASDAQ:ITRI) is a technology and service company. On October 21, 2022, Itron, Inc. (NASDAQ:ITRI) stock closed at $44.14 per share. One-month return of Itron, Inc. (NASDAQ:ITRI) was 1.17% and its shares lost 43.84% of their value over the last 52 weeks. Itron, Inc. (NASDAQ:ITRI) has a market capitalization of $1.992 billion.

White Brook Capital made the following comment about Itron, Inc. (NASDAQ:ITRI) in its Q3 2022 investor letter:

Itron, Inc. (NASDAQ:ITRI). As outlined in our last letter, Itron suffered as their semiconductor suppliers prioritized higher value and higher priced semiconductors over Itron’s products. With a strong backlog, and high energy prices only enhancing their value proposition, the company will do well as their product can finally be assembled and is deployed to their customers. Their customers are in large part local municipalities and their budgets are fairly isolated from economic vagaries providing a margin of safety as the economy enters a period of lower growth.”

Itron, Inc. (NASDAQ:ITRI) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 14 hedge fund portfolios held Itron, Inc. (NASDAQ:ITRI) at the end of the second quarter which was 22 in the previous quarter.

We discussed Itron, Inc. (NASDAQ:ITRI) in another article and shared ClearBridge Investments’ views on the company. In addition, please check out our hedge fund investor letters Q3 2022 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.

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