Itron, Inc. (NASDAQ:ITRI) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. lessened its holdings in Itron, Inc. (NASDAQ:ITRI - Free Report) by 3.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 123,218 shares of the scientific and technical instruments company's stock after selling 4,240 shares during the quarter. Ameriprise Financial Inc. owned 0.27% of Itron worth $13,379,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. First Trust Advisors LP boosted its holdings in Itron by 9.1% in the 4th 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. Norges Bank purchased a new stake in shares of Itron during the 4th quarter worth approximately $64,615,000. Northern Trust Corp boosted its stake in shares of Itron by 11.4% during the 4th quarter. Northern Trust Corp now owns 572,266 shares of the scientific and technical instruments company's stock worth $62,137,000 after acquiring an additional 58,546 shares in the last quarter. Vontobel Holding Ltd. boosted its stake in shares of Itron by 8.1% during the 4th quarter. Vontobel Holding Ltd. now owns 464,787 shares of the scientific and technical instruments company's stock worth $50,467,000 after acquiring an additional 34,842 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Itron by 85.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 425,484 shares of the scientific and technical instruments company's stock worth $46,199,000 after acquiring an additional 196,396 shares in the last quarter. Hedge funds and other institutional investors own 96.19% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ITRI shares. Wall Street Zen lowered Itron from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 1st. Piper Sandler reduced their target price on Itron from $124.00 to $121.00 and set a "neutral" rating on the stock in a research note on Monday, May 5th. Canaccord Genuity Group upped their target price on Itron from $130.00 to $132.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Oppenheimer upped their target price on Itron from $124.00 to $131.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $133.00 target price on shares of Itron in a research note on Thursday, April 17th. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $127.36.

Itron Trading Up 0.3%

ITRI traded up $0.36 during trading on Friday, hitting $112.63. The company's stock had a trading volume of 363,493 shares, compared to its average volume of 573,892. The firm's 50 day moving average price is $106.18 and its 200-day moving average price is $108.00. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83. The stock has a market cap of $5.13 billion, a PE ratio of 23.08, a PEG ratio of 0.81 and a beta of 1.31. Itron, Inc. has a twelve month low of $90.11 and a twelve month high of $124.90.

Itron (NASDAQ:ITRI - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The scientific and technical instruments company reported $1.52 earnings per share for the quarter, beating the consensus estimate of $1.30 by $0.22. The company had revenue of $607.15 million during 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%. Itron's revenue was up .6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.24 EPS. On average, analysts expect that Itron, Inc. will post 5.33 earnings per share for the current year.

Insider Buying and Selling at Itron

In other news, CAO David Marshall Wright sold 317 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $92.90, for a total transaction of $29,449.30. Following the completion of the sale, the chief accounting officer now directly owns 8,108 shares in the company, valued at $753,233.20. This represents a 3.76% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Christopher E. Ware sold 648 shares of the company's stock in a transaction on Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $60,199.20. Following the sale, the senior vice president now owns 20,326 shares of the company's stock, valued at approximately $1,888,285.40. The trade was a 3.09% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 9,187 shares of company stock worth $945,620. Insiders own 1.45% of the company's stock.

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.