Itron, Inc. (NASDAQ:ITRI) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in Itron, Inc. (NASDAQ:ITRI - Free Report) by 6.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 186,787 shares of the scientific and technical instruments company's stock after selling 12,429 shares during the quarter. Victory Capital Management Inc. owned 0.41% of Itron worth $19,568,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. GeoWealth Management LLC lifted its holdings in shares of Itron by 4,580.0% in the 4th quarter. GeoWealth Management LLC now owns 234 shares of the scientific and technical instruments company's stock worth $25,000 after acquiring an additional 229 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in Itron during the 1st quarter worth approximately $45,000. CoreCap Advisors LLC lifted its holdings 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 worth $67,000 after buying an additional 125 shares in the last quarter. Contravisory Investment Management Inc. lifted its holdings in 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 buying an additional 847 shares in the last quarter. Finally, Hancock Whitney Corp acquired a new stake in Itron during the 4th quarter worth approximately $220,000. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Itron Stock Performance

Itron stock traded up $1.98 during midday trading on Friday, hitting $135.97. 533,381 shares of the company's stock were exchanged, compared to its average volume of 464,746. Itron, Inc. has a 12-month low of $90.11 and a 12-month high of $137.99. The stock has a market cap of $6.20 billion, a price-to-earnings ratio of 24.81, a price-to-earnings-growth ratio of 0.86 and a beta of 1.35. The company has a debt-to-equity ratio of 0.52, a quick ratio of 1.65 and a current ratio of 1.93. The firm's 50 day simple moving average is $126.68 and its 200 day simple moving average is $112.25.

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

Insider Buying and Selling

In related news, SVP Christopher E. Ware sold 339 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $114.95, for a total value of $38,968.05. Following the completion of the sale, the senior vice president owned 19,468 shares in the company, valued at $2,237,846.60. This trade represents a 1.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Donald L. Reeves III sold 529 shares of the firm's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $114.95, for a total transaction of $60,808.55. Following the completion of the sale, the senior vice president owned 20,151 shares of the company's stock, valued at $2,316,357.45. This trade represents a 2.56% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 20,905 shares of company stock worth $2,439,202. 1.45% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ITRI shares. Guggenheim reiterated 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. Piper Sandler dropped their price objective on shares of Itron from $124.00 to $121.00 and set a "neutral" rating on the stock in a research report on Monday, May 5th. Roth Capital increased their price objective on shares of Itron from $130.00 to $150.00 and gave the company a "buy" rating in a research report on Tuesday. TD Cowen increased their price objective on shares of Itron from $139.00 to $145.00 and gave the company a "buy" rating in a research report on Friday, June 20th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Itron from $118.00 to $128.00 and gave the company a "neutral" rating in a research report on Tuesday. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, Itron presently has a consensus rating of "Moderate Buy" and a consensus target price of $133.17.

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.