Charles Schwab Investment Management Inc. Sells 3,574 Shares of Itron, Inc. (NASDAQ:ITRI)

Key Points

• Charles Schwab Investment Management Inc. reduced its stake in Itron, Inc. by 0.6%, selling 3,574 shares, and now owns approximately 1.21% of the company valued at $57.97 million.
• Analyst ratings show a mix of sentiment for Itron, with one analyst downgrading the stock while others maintain or raise their target prices, leading to a consensus rating of "Moderate Buy" with a price target of $136.25.
• Itron's recent earnings report revealed earnings per share of $1.62, surpassing estimates, despite a slight decline in year-over-year revenue of 0.4%, totaling $606.76 million for the quarter.

Charles Schwab Investment Management Inc. trimmed its position in Itron, Inc. (NASDAQ:ITRI - Free Report) by 0.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 553,343 shares of the scientific and technical instruments company's stock after selling 3,574 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.21% of Itron worth $57,968,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sowell Financial Services LLC bought a new stake in shares of Itron in the 1st quarter valued at about $266,000. Envestnet Asset Management Inc. raised its holdings in Itron by 119.7% in the 1st quarter. Envestnet Asset Management Inc. now owns 77,060 shares of the scientific and technical instruments company's stock valued at $8,073,000 after acquiring an additional 41,984 shares during the period. Allspring Global Investments Holdings LLC raised its holdings in Itron by 54.0% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 6,278 shares of the scientific and technical instruments company's stock valued at $658,000 after acquiring an additional 2,201 shares during the period. Principal Financial Group Inc. grew its position in shares of Itron by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 270,672 shares of the scientific and technical instruments company's stock worth $28,356,000 after purchasing an additional 6,700 shares in the last quarter. Finally, California First Leasing Corp grew its position in shares of Itron by 220.8% during the 1st quarter. California First Leasing Corp now owns 26,950 shares of the scientific and technical instruments company's stock worth $2,823,000 after purchasing an additional 18,550 shares in the last quarter. 96.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on ITRI shares. Johnson Rice lowered shares of Itron from a "buy" rating to an "accumulate" rating in a research report on Friday, August 1st. Guggenheim restated a "buy" rating and set a $155.00 target price (up previously from $133.00) on shares of Itron in a research report on Monday, July 14th. TD Cowen increased their target price on shares of Itron from $139.00 to $145.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. Piper Sandler decreased their target price on shares of Itron from $124.00 to $121.00 and set a "neutral" rating on the stock in a research report on Monday, May 5th. Finally, JPMorgan Chase & Co. upgraded shares of Itron from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $128.00 to $145.00 in a research report on Thursday, July 31st. One investment analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, Itron presently has a consensus rating of "Moderate Buy" and a consensus price target of $136.25.

Insider Transactions at Itron

In other Itron news, SVP Justin K. Patrick sold 9,036 shares of the firm's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $121.77, for a total value of $1,100,313.72. Following the sale, the senior vice president owned 21,149 shares in the company, valued at $2,575,313.73. This trade represents a 29.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Christopher E. Ware sold 339 shares of the firm'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 $38,968.05. Following the transaction, the senior vice president directly owned 19,468 shares of the company's stock, valued at $2,237,846.60. The trade was a 1.71% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,755 shares of company stock valued at $1,879,397. Corporate insiders own 1.45% of the company's stock.

Itron Stock Performance

Shares of Itron stock opened at $126.28 on Friday. Itron, Inc. has a fifty-two week low of $90.11 and a fifty-two week high of $140.04. The company has a debt-to-equity ratio of 0.48, a current ratio of 2.04 and a quick ratio of 1.75. The firm has a market capitalization of $5.77 billion, a P/E ratio of 21.59, a P/E/G ratio of 0.69 and a beta of 1.35. The company's 50 day moving average price is $130.25 and its two-hundred day moving average price is $114.48.

Itron (NASDAQ:ITRI - Get Free Report) last issued its earnings results on Thursday, July 31st. The scientific and technical instruments company reported $1.62 earnings per share for the quarter, beating analysts' consensus estimates of $1.33 by $0.29. Itron had a net margin of 11.05% and a return on equity of 19.69%. The firm had revenue of $606.76 million for the quarter, compared to analyst estimates of $610.36 million. During the same quarter last year, the business posted $1.21 earnings per share. The company's quarterly revenue was down .4% on a year-over-year basis. On average, equities analysts forecast that Itron, Inc. will post 5.33 earnings per share for the current fiscal year.

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.

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