Headlands Technologies LLC Reduces Stock Position in Itron, Inc. (NASDAQ:ITRI)

Headlands Technologies LLC lowered its holdings in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 76.8% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,230 shares of the scientific and technical instruments company's stock after selling 7,374 shares during the period. Headlands Technologies LLC's holdings in Itron were worth $234,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. First Trust Advisors LP raised 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 acquiring an additional 66,637 shares during the last quarter. Northern Trust Corp raised its stake in Itron by 11.4% during the fourth quarter. Northern Trust Corp now owns 572,266 shares of the scientific and technical instruments company's stock worth $62,137,000 after buying an additional 58,546 shares during the last quarter. Nuveen Asset Management LLC raised its stake in Itron by 21.5% during the fourth quarter. Nuveen Asset Management LLC now owns 560,478 shares of the scientific and technical instruments company's stock worth $60,857,000 after buying an additional 99,142 shares during the last quarter. Janus Henderson Group PLC raised its stake in Itron by 2.4% during the fourth quarter. Janus Henderson Group PLC now owns 536,288 shares of the scientific and technical instruments company's stock worth $58,233,000 after buying an additional 12,810 shares during the last quarter. Finally, Driehaus Capital Management LLC raised its stake in Itron by 2.7% during the fourth quarter. Driehaus Capital Management LLC now owns 342,427 shares of the scientific and technical instruments company's stock worth $37,181,000 after buying an additional 9,107 shares during the last quarter. Institutional investors own 96.19% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ITRI shares. JPMorgan Chase & Co. raised shares of Itron from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $128.00 to $145.00 in a research note on Thursday, July 31st. TD Cowen lifted their price target on shares of Itron from $139.00 to $145.00 and gave the company a "buy" rating in a research note on Friday, June 20th. Johnson Rice downgraded shares of Itron from a "buy" rating to an "accumulate" rating in a research note on Friday, August 1st. Piper Sandler decreased their price target 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. Finally, Wall Street Zen raised shares of Itron from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $136.25.

Itron Stock Up 0.6%

Shares of NASDAQ ITRI traded up $0.80 during mid-day trading on Friday, reaching $126.17. 114,694 shares of the company's stock traded hands, compared to its average volume of 591,497. The stock has a market cap of $5.77 billion, a P/E ratio of 21.54, a PEG ratio of 0.70 and a beta of 1.35. The business has a 50-day simple moving average of $130.14 and a 200 day simple moving average of $114.34. Itron, Inc. has a 1-year low of $90.11 and a 1-year 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.

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

Insiders Place Their Bets

In other Itron news, SVP John F. Marcolini sold 3,783 shares of Itron stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $116.73, for a total value of $441,589.59. Following the sale, the senior vice president owned 21,865 shares of the company's stock, valued at approximately $2,552,301.45. The trade was a 14.75% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Donald L. Reeves III sold 529 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 transaction of $60,808.55. Following the completion of the sale, the senior vice president directly owned 20,151 shares in the company, valued at approximately $2,316,357.45. This represents a 2.56% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,755 shares of company stock valued at $1,879,397. Company 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.