Itron, Inc. $ITRI Stock Holdings Lessened by Vanguard Group Inc.

Vanguard Group Inc. lessened its holdings in Itron, Inc. (NASDAQ:ITRI - Free Report) by 2.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,742,985 shares of the scientific and technical instruments company's stock after selling 148,881 shares during the quarter. Vanguard Group Inc. owned 12.60% of Itron worth $601,635,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently modified their holdings of ITRI. GeoWealth Management LLC boosted its holdings in 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 acquiring an additional 229 shares in the last quarter. Wayfinding Financial LLC bought a new position in Itron in the first quarter worth about $45,000. CoreCap Advisors LLC boosted its position in Itron by 25.5% during the 4th quarter. CoreCap Advisors LLC now owns 616 shares of the scientific and technical instruments company's stock valued at $67,000 after acquiring an additional 125 shares in the last quarter. Contravisory Investment Management Inc. grew its holdings in shares of Itron by 98.0% during the 1st quarter. Contravisory Investment Management Inc. now owns 1,711 shares of the scientific and technical instruments company's stock worth $179,000 after acquiring an additional 847 shares during the period. Finally, Hancock Whitney Corp purchased a new position in shares of Itron in the 4th quarter valued at approximately $220,000. Hedge funds and other institutional investors own 96.19% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Johnson Rice downgraded shares of Itron from a "buy" rating to an "accumulate" rating in a research note on Friday, August 1st. JPMorgan Chase & Co. raised Itron from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $128.00 to $145.00 in a report on Thursday, July 31st. Guggenheim restated a "buy" rating and set a $155.00 price objective (up from $133.00) on shares of Itron in a research report on Monday, July 14th. Piper Sandler lowered their price target on Itron from $124.00 to $121.00 and set a "neutral" rating on the stock in a report on Monday, May 5th. Finally, Stephens set a $130.00 price objective on Itron in a research note on Monday, August 4th. One equities research analyst has rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Itron has an average rating of "Moderate Buy" and a consensus price target of $136.25.

Itron Stock Up 0.6%

Shares of Itron stock traded up $0.80 on Monday, reaching $127.08. The stock had a trading volume of 89,979 shares, compared to its average volume of 590,262. Itron, Inc. has a 1 year low of $90.11 and a 1 year high of $140.04. The company has a 50 day moving average price of $130.25 and a 200 day moving average price of $114.59. The company has a quick ratio of 1.75, a current ratio of 2.04 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $5.81 billion, a P/E ratio of 21.72, a P/E/G ratio of 0.69 and a beta of 1.35.

Itron (NASDAQ:ITRI - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The scientific and technical instruments company reported $1.62 earnings per share for the quarter, beating the consensus estimate 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 period last year, the business earned $1.21 earnings per share. Itron's quarterly revenue was down .4% on a year-over-year basis. As a group, equities research analysts forecast that Itron, Inc. will post 5.33 EPS for the current year.

Insider Activity

In other news, SVP John F. Marcolini sold 3,783 shares of the firm'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 owned 21,865 shares of the company's stock, valued at approximately $2,552,301.45. This trade represents a 14.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Christopher E. Ware sold 339 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 $38,968.05. Following the completion of the transaction, the senior vice president owned 19,468 shares of the company's stock, valued at approximately $2,237,846.60. The trade was a 1.71% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 15,755 shares of company stock worth $1,879,397. 1.51% of the stock is owned by company 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.