Deutsche Bank AG Sells 46,456 Shares of Itron, Inc. $ITRI

Key Points

• Deutsche Bank AG reduced its stake in Itron, Inc. by 17.8% during the first quarter, holding 213,904 shares valued at approximately $22.4 million.
• Insider selling was noted, with SVP John F. Marcolini selling 3,783 shares for about $441,589, reducing his ownership by 14.75%.
• Analysts have mixed ratings on Itron stocks, with some downgrading their ratings while others, like JPMorgan Chase, upgraded from "neutral" to "overweight" with increased price targets.

Deutsche Bank AG trimmed its position in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 17.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 213,904 shares of the scientific and technical instruments company's stock after selling 46,456 shares during the quarter. Deutsche Bank AG owned 0.47% of Itron worth $22,409,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. GeoWealth Management LLC raised its position in Itron by 4,580.0% in the 4th quarter. GeoWealth Management LLC now owns 234 shares of the scientific and technical instruments company's stock valued at $25,000 after buying an additional 229 shares during the last quarter. Wayfinding Financial LLC purchased a new stake in Itron in the 1st quarter valued at $45,000. CoreCap Advisors LLC raised its position in Itron by 25.5% in the 4th quarter. CoreCap Advisors LLC now owns 616 shares of the scientific and technical instruments company's stock valued at $67,000 after buying an additional 125 shares during the last quarter. Contravisory Investment Management Inc. raised its position in Itron by 98.0% in the 1st quarter. Contravisory Investment Management Inc. now owns 1,711 shares of the scientific and technical instruments company's stock valued at $179,000 after buying an additional 847 shares during the last quarter. Finally, Hancock Whitney Corp purchased a new stake in Itron in the 4th quarter valued at $220,000. 96.19% of the stock is owned by hedge funds and other institutional investors.

Itron Price Performance

Shares of ITRI traded up $0.54 during trading hours on Monday, reaching $126.82. 102,032 shares of the company's stock traded hands, compared to its average volume of 590,352. The stock has a market cap of $5.80 billion, a PE ratio of 21.69, a price-to-earnings-growth ratio of 0.69 and a beta of 1.35. The company has a current ratio of 2.04, a quick ratio of 1.75 and a debt-to-equity ratio of 0.48. The firm's 50 day simple moving average is $130.25 and its 200-day simple moving average is $114.59. Itron, Inc. has a 12 month low of $90.11 and a 12 month high of $140.04.

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

Insider Buying and Selling

In related news, CFO Joan S. Hooper sold 938 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $114.95, for a total value of $107,823.10. Following the completion of the sale, the chief financial officer owned 89,364 shares in the company, valued at $10,272,391.80. The trade was a 1.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Christopher E. Ware sold 339 shares of the business's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $114.95, for a total value of $38,968.05. Following the completion of the sale, the senior vice president 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. Insiders have sold a total of 15,755 shares of company stock worth $1,879,397 over the last ninety days. Corporate insiders own 1.51% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Stephens set a $130.00 price target on Itron in a research report on Monday, August 4th. Roth Capital increased their price target on Itron from $130.00 to $150.00 and gave the company a "buy" rating in a research report on Tuesday, July 22nd. Johnson Rice lowered Itron from a "buy" rating to an "accumulate" rating in a research report on Friday, August 1st. Guggenheim reaffirmed a "buy" rating and set a $155.00 target price (up from $133.00) on shares of Itron in a research report on Monday, July 14th. Finally, Piper Sandler decreased 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. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $136.25.

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.