Itron, Inc. (NASDAQ:ITRI) Shares Sold by Pinnacle Associates Ltd.

Pinnacle Associates Ltd. reduced its position in Itron, Inc. (NASDAQ:ITRI - Free Report) by 3.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 308,092 shares of the scientific and technical instruments company's stock after selling 10,091 shares during the quarter. Pinnacle Associates Ltd. owned approximately 0.68% of Itron worth $32,276,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wakefield Asset Management LLLP increased its holdings in Itron by 40.9% in the first quarter. Wakefield Asset Management LLLP now owns 12,586 shares of the scientific and technical instruments company's stock valued at $1,319,000 after buying an additional 3,653 shares during the last quarter. Los Angeles Capital Management LLC increased its holdings in Itron by 15.9% in the first quarter. Los Angeles Capital Management LLC now owns 51,449 shares of the scientific and technical instruments company's stock valued at $5,390,000 after buying an additional 7,058 shares during the last quarter. Jennison Associates LLC increased its holdings in Itron by 3.8% in the first quarter. Jennison Associates LLC now owns 13,972 shares of the scientific and technical instruments company's stock valued at $1,464,000 after buying an additional 509 shares during the last quarter. Bailard Inc. increased its holdings in Itron by 2.8% in the first quarter. Bailard Inc. now owns 29,801 shares of the scientific and technical instruments company's stock valued at $3,122,000 after buying an additional 800 shares during the last quarter. Finally, Segall Bryant & Hamill LLC bought a new stake in Itron in the first quarter valued at about $7,219,000. 96.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on ITRI. Guggenheim reaffirmed a "buy" rating and set a $155.00 target price (up from $133.00) on shares of Itron in a report on Monday, July 14th. JPMorgan Chase & Co. upped their target price on Itron from $118.00 to $128.00 and gave the company a "neutral" rating in a report on Tuesday. Piper Sandler lowered their target price on Itron from $124.00 to $121.00 and set a "neutral" rating for the company in a report on Monday, May 5th. Wall Street Zen lowered Itron from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. Finally, Roth Capital upped their target price on Itron from $130.00 to $150.00 and gave the company a "buy" rating in a report on Tuesday. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $133.17.

Itron Stock Performance

Shares of NASDAQ ITRI traded down $1.55 during midday trading on Thursday, hitting $133.99. 328,018 shares of the company's stock were exchanged, compared to its average volume of 469,951. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.93 and a quick ratio of 1.65. The stock's 50 day moving average price is $125.86 and its 200-day moving average price is $111.86. The firm has a market cap of $6.11 billion, a P/E ratio of 24.45, a PEG ratio of 0.86 and a beta of 1.35. Itron, Inc. has a twelve month low of $90.11 and a twelve month high of $137.99.

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

Insider Transactions at Itron

In other Itron news, SVP Donald L. Reeves III sold 529 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $114.95, for a total value of $60,808.55. Following the completion of the sale, the senior vice president directly owned 20,151 shares in the company, valued at $2,316,357.45. This represents a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP John F. Marcolini sold 3,783 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $116.73, for a total value of $441,589.59. Following the completion of the sale, the senior vice president owned 21,865 shares of the company's stock, valued at $2,552,301.45. This trade represents a 14.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,905 shares of company stock valued at $2,439,202 over the last three months. 1.45% of the stock is owned by company insiders.

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.