Handelsbanken Fonder AB Has $81.53 Million Holdings in Itron, Inc. (NASDAQ:ITRI)

Handelsbanken Fonder AB lowered its stake in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 13.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 778,264 shares of the scientific and technical instruments company's stock after selling 121,025 shares during the quarter. Handelsbanken Fonder AB owned about 1.71% of Itron worth $81,531,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of ITRI. Louisiana State Employees Retirement System increased its holdings in shares of Itron by 0.5% during the 4th quarter. Louisiana State Employees Retirement System now owns 21,800 shares of the scientific and technical instruments company's stock worth $2,367,000 after purchasing an additional 100 shares during the period. Pinnacle Wealth Management Advisory Group LLC increased its stake in Itron by 6.1% during the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,185 shares of the scientific and technical instruments company's stock valued at $237,000 after acquiring an additional 125 shares during the period. CoreCap Advisors LLC raised its holdings 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 acquiring an additional 125 shares in the last quarter. Captrust Financial Advisors lifted its position in shares of Itron by 6.3% in the 4th quarter. Captrust Financial Advisors now owns 2,144 shares of the scientific and technical instruments company's stock worth $233,000 after acquiring an additional 128 shares during the period. Finally, Summit Investment Advisors Inc. grew its holdings in shares of Itron by 3.1% during the 4th quarter. Summit Investment Advisors Inc. now owns 4,726 shares of the scientific and technical instruments company's stock worth $513,000 after purchasing an additional 140 shares in the last quarter. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, SVP Christopher E. Ware sold 339 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $114.95, for a total transaction of $38,968.05. Following the transaction, the senior vice president now owns 19,468 shares of the company's stock, valued at $2,237,846.60. This represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Joan S. Hooper sold 938 shares of Itron stock in a transaction dated 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 now owns 89,364 shares of the company's stock, valued at approximately $10,272,391.80. The trade was a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 11,869 shares of company stock worth $1,338,888 in the last quarter. Insiders own 1.45% of the company's stock.

Analyst Ratings Changes

ITRI has been the subject of a number of recent research reports. Guggenheim restated a "buy" rating and issued a $133.00 target price on shares of Itron in a research note on Thursday, April 17th. Piper Sandler dropped their price objective on shares of Itron from $124.00 to $121.00 and set a "neutral" rating for the company in a research note on Monday, May 5th. Oppenheimer lifted their target price on shares of 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 shares of Itron from $130.00 to $132.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Finally, Wall Street Zen cut shares of Itron from a "buy" rating to a "hold" rating in a research note on Sunday, June 1st. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Itron currently has a consensus rating of "Moderate Buy" and a consensus price target of $127.36.

Itron Price Performance

ITRI traded up $1.74 during trading on Tuesday, hitting $123.32. The company's stock had a trading volume of 600,853 shares, compared to its average volume of 581,983. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of 25.27, a price-to-earnings-growth ratio of 0.81 and a beta of 1.33. The firm's 50 day moving average price is $108.51 and its two-hundred day moving average price is $107.71. Itron, Inc. has a 12 month low of $90.11 and a 12 month high of $124.90.

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

Itron Company 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.