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

Headlands Technologies LLC decreased its holdings in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 76.8% during the first quarter, according to its most recent filing with the SEC. The firm 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 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ITRI. First Trust Advisors LP grew its position in shares of 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 worth $87,145,000 after buying an additional 66,637 shares during the last quarter. Northern Trust Corp grew its position in shares of Itron by 11.4% in 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 buying an additional 58,546 shares during the last quarter. Nuveen Asset Management LLC grew its position in shares of Itron by 21.5% in the 4th 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 boosted its stake in Itron by 2.4% in the 4th quarter. Janus Henderson Group PLC now owns 536,288 shares of the scientific and technical instruments company's stock worth $58,233,000 after purchasing an additional 12,810 shares in the last quarter. Finally, Driehaus Capital Management LLC boosted its stake in Itron by 2.7% in the 4th quarter. Driehaus Capital Management LLC now owns 342,427 shares of the scientific and technical instruments company's stock worth $37,181,000 after purchasing an additional 9,107 shares in the last quarter. Hedge funds and other institutional investors own 96.19% of the company's stock.

Itron Stock Performance

Shares of ITRI traded up $2.42 during trading hours on Wednesday, hitting $128.50. The stock had a trading volume of 473,802 shares, compared to its average volume of 595,867. The firm has a 50-day moving average price of $129.84 and a 200 day moving average price of $114.11. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.75 and a current ratio of 2.04. Itron, Inc. has a fifty-two week low of $90.11 and a fifty-two week high of $140.04. The firm has a market capitalization of $5.87 billion, a price-to-earnings ratio of 21.97, a PEG ratio of 0.68 and a beta of 1.35.

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 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 company had revenue of $606.76 million during the quarter, compared to analysts' expectations of $610.36 million. During the same quarter in the prior year, the firm posted $1.21 EPS. Itron's quarterly revenue was down .4% compared to the same quarter last year. As a group, research analysts anticipate that Itron, Inc. will post 5.33 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ITRI shares. Johnson Rice cut shares of Itron from a "buy" rating to an "accumulate" rating in a research note on Friday, August 1st. Wall Street Zen upgraded shares of Itron from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. TD Cowen increased their price objective on Itron from $139.00 to $145.00 and gave the company a "buy" rating in a report on Friday, June 20th. Guggenheim reissued a "buy" rating and issued a $155.00 price objective (up from $133.00) on shares of Itron in a report on Monday, July 14th. Finally, Roth Capital increased their price objective on Itron from $130.00 to $150.00 and gave the company a "buy" rating in a report on Tuesday, July 22nd. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $136.25.

Insider Transactions at Itron

In other Itron news, CFO Joan S. Hooper sold 938 shares of the company'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 $107,823.10. Following the completion of the transaction, the chief financial officer directly owned 89,364 shares in the company, valued at approximately $10,272,391.80. This represents a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Donald L. Reeves III sold 529 shares of the company's 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 transaction, the senior vice president owned 20,151 shares of the company's stock, valued at approximately $2,316,357.45. This trade represents a 2.56% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 15,755 shares of company stock worth $1,879,397 in the last ninety days. Company insiders own 1.51% of the company's stock.

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.