Mackenzie Financial Corp Sells 5,710 Shares of Itron, Inc. (NASDAQ:ITRI)

Mackenzie Financial Corp trimmed its position in Itron, Inc. (NASDAQ:ITRI - Free Report) by 66.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,939 shares of the scientific and technical instruments company's stock after selling 5,710 shares during the quarter. Mackenzie Financial Corp's holdings in Itron were worth $319,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System raised its position 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 valued at $2,367,000 after acquiring an additional 100 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC grew its stake in shares of 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 worth $237,000 after purchasing an additional 125 shares during the period. CoreCap Advisors LLC increased its holdings in Itron by 25.5% in the fourth quarter. CoreCap Advisors LLC now owns 616 shares of the scientific and technical instruments company's stock valued at $67,000 after purchasing an additional 125 shares during the last quarter. Captrust Financial Advisors increased its holdings in Itron by 6.3% in the fourth quarter. Captrust Financial Advisors now owns 2,144 shares of the scientific and technical instruments company's stock valued at $233,000 after purchasing an additional 128 shares during the last quarter. Finally, Summit Investment Advisors Inc. lifted its stake in Itron by 3.1% in the fourth quarter. Summit Investment Advisors Inc. now owns 4,726 shares of the scientific and technical instruments company's stock valued at $513,000 after buying an additional 140 shares during the period. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ITRI has been the subject of a number of recent analyst reports. Guggenheim reaffirmed a "buy" rating and issued a $133.00 price target on shares of Itron in a research note on Thursday, April 17th. Piper Sandler decreased their price objective on shares of Itron from $124.00 to $121.00 and set a "neutral" rating for the company in a report on Monday, May 5th. Canaccord Genuity Group upped their target price on shares of Itron from $130.00 to $132.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Oppenheimer increased their target price on shares of Itron from $124.00 to $131.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Finally, Wall Street Zen cut shares of Itron from a "buy" rating to a "hold" rating in a research report on Sunday, June 1st. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Itron currently has a consensus rating of "Moderate Buy" and a consensus price target of $127.36.

Itron Stock Up 0.9%

Shares of ITRI stock traded up $1.05 during trading hours on Friday, hitting $120.56. 413,253 shares of the company were exchanged, compared to its average volume of 580,136. Itron, Inc. has a 52 week low of $90.11 and a 52 week high of $124.90. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91. The business has a 50 day moving average of $107.93 and a two-hundred day moving average of $107.76. The company has a market capitalization of $5.50 billion, a PE ratio of 24.70, a PEG ratio of 0.81 and a beta of 1.31.

Itron (NASDAQ:ITRI - Get Free Report) last announced its earnings results on Thursday, May 1st. The scientific and technical instruments company reported $1.52 earnings per share 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 during the quarter, compared to analyst estimates of $608.86 million. During the same period in the prior year, the business earned $1.24 EPS. The company's revenue for the quarter was up .6% compared to the same quarter last year. Analysts anticipate that Itron, Inc. will post 5.33 earnings per share for the current fiscal year.

Insider Activity at Itron

In related news, SVP John F. Marcolini sold 3,783 shares of the company's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $116.73, for a total transaction of $441,589.59. Following the sale, the senior vice president now owns 21,865 shares in the company, valued at approximately $2,552,301.45. This represents a 14.75% 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, Director Mary C. Hemmingsen sold 5,150 shares of the firm's stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $108.70, for a total value of $559,805.00. Following the completion of the transaction, the director now owns 952 shares of the company's stock, valued at approximately $103,482.40. This represents a 84.40% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 11,869 shares of company stock valued at $1,338,888. 1.45% of the stock is owned by insiders.

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.