Perpetual Ltd Decreases Stock Position in Itron, Inc. (NASDAQ:ITRI)

Perpetual Ltd decreased its position in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 9.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. GeoWealth Management LLC lifted its holdings in shares of Itron by 4,580.0% in the fourth quarter. GeoWealth Management LLC now owns 234 shares of the scientific and technical instruments company's stock valued at $25,000 after purchasing an additional 229 shares in the last quarter. CoreCap Advisors LLC lifted its stake 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 buying an additional 125 shares in the last quarter. Smartleaf Asset Management LLC grew its holdings in Itron by 347.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 886 shares of the scientific and technical instruments company's stock valued at $97,000 after buying an additional 688 shares during the last quarter. Contravisory Investment Management Inc. increased its position in Itron by 98.0% during the first quarter. Contravisory Investment Management Inc. now owns 1,711 shares of the scientific and technical instruments company's stock worth $179,000 after buying an additional 847 shares in the last quarter. Finally, Steward Partners Investment Advisory LLC increased its position in Itron by 43.1% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,820 shares of the scientific and technical instruments company's stock worth $198,000 after buying an additional 548 shares in the last quarter. Institutional investors and hedge funds own 96.19% of the company's stock.

Analysts Set New Price Targets

ITRI has been the topic of a number of analyst reports. TD Cowen increased their price objective on Itron from $139.00 to $145.00 and gave the company a "buy" rating in a research note on Friday, June 20th. Piper Sandler reduced their target price on shares of Itron from $124.00 to $121.00 and set a "neutral" rating on the stock in a report on Monday, May 5th. Guggenheim reiterated a "buy" rating and set a $133.00 price target on shares of Itron in a report on Thursday, April 17th. Finally, Wall Street Zen lowered shares of Itron from a "buy" rating to a "hold" rating in a research report on Sunday, June 1st. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Itron presently has a consensus rating of "Moderate Buy" and an average price target of $128.18.

Itron Trading Up 0.7%

NASDAQ:ITRI traded up $0.99 during trading hours on Tuesday, reaching $132.62. 229,945 shares of the company were exchanged, compared to its average volume of 559,229. Itron, Inc. has a 52-week low of $90.11 and a 52-week high of $134.52. The stock has a 50 day simple moving average of $116.99 and a 200 day simple moving average of $108.85. The firm has a market cap of $6.05 billion, a price-to-earnings ratio of 24.22, a PEG ratio of 0.84 and a beta of 1.33. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.93 and a quick ratio of 1.65.

Itron (NASDAQ:ITRI - Get Free Report) last issued its earnings results on Thursday, May 1st. The scientific and technical instruments company reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.30 by $0.22. Itron had a return on equity of 19.65% and a net margin of 10.34%. The business had revenue of $607.15 million for the quarter, compared to analyst estimates of $608.86 million. During the same period last year, the company posted $1.24 EPS. The business's quarterly revenue was up .6% on a year-over-year basis. As a group, analysts predict that Itron, Inc. will post 5.33 EPS for the current year.

Insider Buying and Selling at Itron

In other Itron news, SVP Christopher E. Ware sold 339 shares of Itron stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $114.95, for a total transaction of $38,968.05. Following the transaction, the senior vice president directly owned 19,468 shares of the company's stock, valued at $2,237,846.60. The trade was a 1.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP John F. Marcolini sold 3,783 shares of the stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $116.73, for a total transaction of $441,589.59. Following the completion of the sale, the senior vice president directly owned 21,865 shares of the company's stock, valued at $2,552,301.45. The trade was a 14.75% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 20,905 shares of company stock worth $2,439,202. Company insiders own 1.51% of the company's stock.

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.