Insider Selling: Itron, Inc. (NASDAQ:ITRI) SVP Sells 529 Shares of Stock

Itron, Inc. (NASDAQ:ITRI - Get Free Report) SVP Donald L. Reeves III sold 529 shares of the business's stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $114.95, for a total transaction of $60,808.55. Following the transaction, the senior vice president now owns 20,151 shares in the company, valued at $2,316,357.45. This trade represents a 2.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Itron Trading Up 2.1%

NASDAQ:ITRI traded up $2.44 during midday trading on Friday, hitting $116.15. The stock had a trading volume of 649,684 shares, compared to its average volume of 577,070. Itron, Inc. has a one year low of $90.11 and a one year high of $124.90. The company has a market capitalization of $5.30 billion, a price-to-earnings ratio of 23.80, a PEG ratio of 0.81 and a beta of 1.31. The stock has a 50-day moving average of $106.85 and a 200 day moving average of $107.70. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91.

Itron (NASDAQ:ITRI - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The scientific and technical instruments company reported $1.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.30 by $0.22. The business had revenue of $607.15 million for the quarter, compared to the consensus estimate of $608.86 million. Itron had a return on equity of 19.03% and a net margin of 9.37%. The business's revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.24 EPS. As a group, sell-side analysts forecast that Itron, Inc. will post 5.33 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on ITRI. Guggenheim reaffirmed a "buy" rating and set a $133.00 price target on shares of Itron in a research note on Thursday, April 17th. Oppenheimer boosted their target price on Itron from $124.00 to $131.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Canaccord Genuity Group increased their price target on Itron from $130.00 to $132.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Wall Street Zen raised Itron from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Finally, Piper Sandler dropped their price objective on Itron from $124.00 to $121.00 and set a "neutral" rating for the company in a report on Monday, May 5th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, Itron currently has a consensus rating of "Moderate Buy" and a consensus price target of $127.36.

Institutional Trading of Itron

A number of hedge funds have recently added to or reduced their stakes in the business. Invesco Ltd. increased its position in Itron by 2.7% during the 1st quarter. Invesco Ltd. now owns 2,310,769 shares of the scientific and technical instruments company's stock valued at $242,076,000 after purchasing an additional 59,962 shares during the period. Amundi lifted its position in shares of Itron by 18.4% in the 1st quarter. Amundi now owns 929,407 shares of the scientific and technical instruments company's stock worth $97,313,000 after purchasing an additional 144,361 shares during the period. First Trust Advisors LP boosted its stake in shares of Itron by 9.1% during the fourth quarter. First Trust Advisors LP now owns 802,584 shares of the scientific and technical instruments company's stock valued at $87,145,000 after purchasing an additional 66,637 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Itron by 129.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 732,274 shares of the scientific and technical instruments company's stock valued at $76,713,000 after purchasing an additional 413,487 shares in the last quarter. Finally, Norges Bank purchased a new position in Itron during the fourth quarter valued at approximately $64,615,000. 96.19% of the stock is owned by hedge funds and other institutional investors.

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.