Insider Selling: Itron (NASDAQ:ITRI) CAO Sells $82,000.00 in Stock

Key Points

• Itron Chief Accounting Officer David Wright sold 820 shares for $82,000 at an average price of $100 on November 2, leaving him with 410 shares—66.67% fewer than before the sale.
• Itron beat quarterly earnings expectations, reporting EPS of $1.94 versus the $1.56 consensus, while revenue rose 3% year over year to $599.33 million.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $129.20; shares traded at $101.92 in Wednesday’s mid-day session.

Itron, Inc. (NASDAQ:ITRI - Get Free Report) CAO David Wright sold 820 shares of the firm's stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $100.00, for a total value of $82,000.00. Following the completion of the sale, the chief accounting officer owned 410 shares of the company's stock, valued at approximately $41,000. This represents a 66.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

David Marshall Wright also recently made the following trade(s):

• On Tuesday, November 3rd, David Wright sold 410 shares of Itron stock. The shares were sold at an average price of $98.79, for a total transaction of $40,503.90.
• On Monday, November 2nd, David Wright sold 100 shares of Itron stock. The shares were sold at an average price of $100.08, for a total transaction of $10,008.00.
• On Monday, August 24th, David Wright sold 76 shares of Itron stock. The shares were sold at an average price of $98.79, for a total transaction of $7,508.04.
• On Thursday, August 20th, David Wright sold 58 shares of Itron stock. The stock was sold at an average price of $97.83, for a total transaction of $5,674.14.

Itron Trading Up 3.8%

NASDAQ:ITRI traded up $3.70 during mid-day trading on Wednesday, hitting $101.92. 223,470 shares of the stock traded hands, compared to its average volume of 821,804. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 1.13 and a beta of 1.33. Itron, Inc. has a 52 week low of $77.77 and a 52 week high of $108.20. The firm's 50 day moving average is $91.04 and its two-hundred day moving average is $91.05. The company has a quick ratio of 2.36, a current ratio of 2.83 and a debt-to-equity ratio of 0.92.

Itron (NASDAQ:ITRI - Get Free Report) last announced its quarterly earnings data on Tuesday, October 27th. The scientific and technical instruments company reported $1.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.56 by $0.38. Itron had a net margin of 12.05% and a return on equity of 20.11%. The business had revenue of $599.33 million during the quarter, compared to the consensus estimate of $595.50 million. During the same quarter last year, the firm earned $1.54 earnings per share. The firm's quarterly revenue was up 3.0% compared to the same quarter last year. On average, equities research analysts predict that Itron, Inc. will post 6.78 earnings per share for the current year.

Wall Street Analyst Weigh In

ITRI has been the topic of several recent analyst reports. Wall Street Zen raised shares of Itron from a "hold" rating to a "buy" rating in a research note on Saturday. JPMorgan Chase & Co. increased their price target on Itron from $107.00 to $109.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 28th. Needham & Company LLC lifted their price objective on Itron from $128.00 to $137.00 and gave the company a "buy" rating in a report on Tuesday, October 27th. Robert W. Baird set a $125.00 price objective on shares of Itron in a research note on Wednesday, July 29th. Finally, Oppenheimer reiterated an "outperform" rating on shares of Itron in a report on Wednesday, October 28th. Nine investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Itron has an average rating of "Moderate Buy" and a consensus price target of $129.20.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. PenderFund Capital Management Ltd. purchased a new stake in shares of Itron during the 2nd quarter worth $35,000. Quantbot Technologies LP purchased a new position in Itron in the second quarter valued at about $36,000. Integrated Wealth Concepts LLC bought a new position in Itron in the second quarter worth about $36,000. Public Employees Retirement System of Ohio bought a new position in Itron in the second quarter worth about $48,000. Finally, Farther Finance Advisors LLC raised its holdings in Itron by 37.9% in the third quarter. Farther Finance Advisors LLC now owns 640 shares of the scientific and technical instruments company's stock worth $55,000 after purchasing an additional 176 shares in the last quarter. 96.19% of the stock is currently owned by hedge funds and other institutional investors.

Itron Company Profile

Itron, Inc is a technology company that provides solutions to utilities and cities for managing electricity, natural gas, and water resources. Its offerings help organizations measure consumption, collect and analyze data, improve operational efficiency, and support more reliable and sustainable delivery of essential services.

The company's portfolio includes smart meters, advanced metering infrastructure, communications networks, sensors, data management systems, and utility software.

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