Itron, Inc. (NASDAQ:ITRI) Stock Position Lessened by Perpetual Ltd

Perpetual Ltd decreased its position in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 9.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 51,134 shares of the scientific and technical instruments company's stock after selling 5,416 shares during the quarter. Perpetual Ltd owned 0.11% of Itron worth $5,357,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in ITRI. First Trust Advisors LP increased its holdings in 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 acquiring an additional 66,637 shares in the last quarter. Norges Bank purchased a new stake in Itron in the 4th quarter worth $64,615,000. Northern Trust Corp increased its holdings in 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 acquiring an additional 58,546 shares in the last quarter. Nuveen Asset Management LLC increased its holdings in 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 acquiring an additional 99,142 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings 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 acquiring an additional 12,810 shares in the last quarter. Institutional investors and hedge funds own 96.19% of the company's stock.

Insider Buying and Selling at Itron

In related news, Director Mary C. Hemmingsen sold 5,150 shares of the company's stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $108.70, for a total transaction of $559,805.00. Following the completion of the transaction, the director now directly owns 952 shares in the company, valued at $103,482.40. This represents a 84.40% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Justin K. Patrick sold 375 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 value of $43,106.25. Following the transaction, the senior vice president now owns 30,185 shares of the company's stock, valued at approximately $3,469,765.75. The trade was a 1.23% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,905 shares of company stock valued at $2,439,202 in the last three months. Corporate insiders own 1.45% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Itron from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. Guggenheim reaffirmed a "buy" rating and set a $133.00 target price on shares of Itron in a report on Thursday, April 17th. TD Cowen upped their target price on shares of Itron from $139.00 to $145.00 and gave the stock a "buy" rating in a report on Friday, June 20th. Finally, Piper Sandler dropped their target price 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. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Itron has an average rating of "Moderate Buy" and a consensus price target of $128.18.

Itron Price Performance

Shares of NASDAQ:ITRI traded down $0.32 during midday trading on Friday, hitting $132.46. 1,103,162 shares of the stock were exchanged, compared to its average volume of 565,261. The stock has a market cap of $6.04 billion, a P/E ratio of 24.17, a PEG ratio of 0.84 and a beta of 1.33. The company has a current ratio of 1.93, a quick ratio of 1.65 and a debt-to-equity ratio of 0.52. Itron, Inc. has a twelve month low of $90.11 and a twelve month high of $134.52. The company has a 50 day moving average price of $116.39 and a 200-day moving average price of $108.77.

Itron (NASDAQ:ITRI - Get Free Report) last posted 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. The firm had revenue of $607.15 million during the quarter, compared to analysts' expectations of $608.86 million. Itron had a return on equity of 19.65% and a net margin of 10.34%. The firm's quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the business posted $1.24 EPS. On average, research analysts forecast that Itron, Inc. will post 5.33 earnings per share for the current year.

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.