Itron (NASDAQ:ITRI) Stock: Insider David Marshall Wright Sells 410 Shares

Key Points

• Itron Chief Accounting Officer David Wright sold 410 shares at an average $98.79, totaling $40,503.90; he retained 7,341 shares after the sale.
• Itron shares rose 3.8% to $101.92 in Wednesday trading. The company also beat quarterly earnings estimates, reporting EPS of $1.94 versus the $1.56 consensus, while revenue increased 3% year over year.
• Analysts maintain a “Moderate Buy” consensus rating and an average price target of $129.20; nine analysts rate the stock Buy, three Hold, and one Sell.

Itron, Inc. (NASDAQ:ITRI - Get Free Report) CAO David Wright sold 410 shares of the firm's stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $98.79, for a total transaction of $40,503.90. Following the transaction, the chief accounting officer directly owned 7,341 shares of the company's stock, valued at approximately $725,217.39. This represents a 5.29% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, November 2nd, David Wright sold 820 shares of Itron stock. The stock was sold at an average price of $100.00, for a total transaction of $82,000.00.
• 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 stock was 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 Stock Up 3.8%

NASDAQ:ITRI traded up $3.70 during mid-day trading on Wednesday, reaching $101.92. The stock had a trading volume of 223,470 shares, compared to its average volume of 821,804. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 16.45, a price-to-earnings-growth ratio of 1.13 and a beta of 1.33. Itron, Inc. has a 1-year low of $77.77 and a 1-year high of $108.20. The stock's 50 day simple moving average is $91.04 and its two-hundred day simple moving average is $91.05. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.83 and a quick ratio of 2.36.

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 for the quarter, beating the consensus estimate of $1.56 by $0.38. Itron had a return on equity of 20.11% and a net margin of 12.05%. The firm had revenue of $599.33 million during the quarter, compared to analyst estimates of $595.50 million. During the same period in the previous year, the company earned $1.54 earnings per share. Itron's quarterly revenue was up 3.0% on a year-over-year basis. Equities analysts anticipate that Itron, Inc. will post 6.78 EPS for the current year.

Hedge Funds Weigh In On Itron

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP grew its holdings in shares of Itron by 20.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,536,081 shares of the scientific and technical instruments company's stock valued at $137,659,000 after purchasing an additional 265,039 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Itron by 22.2% in the 1st quarter. First Trust Advisors LP now owns 969,228 shares of the scientific and technical instruments company's stock worth $86,872,000 after purchasing an additional 176,053 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Itron by 12.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 673,420 shares of the scientific and technical instruments company's stock worth $60,359,000 after purchasing an additional 73,020 shares during the last quarter. Jupiter Topco LLC bought a new stake in shares of Itron in the 2nd quarter worth approximately $42,466,000. Finally, Renaissance Technologies LLC boosted its position in Itron by 10.1% during the 1st quarter. Renaissance Technologies LLC now owns 461,761 shares of the scientific and technical instruments company's stock valued at $41,388,000 after purchasing an additional 42,300 shares during the period. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ITRI has been the subject of a number of research analyst reports. BNP Paribas Exane lowered their price target on Itron from $115.00 to $105.00 and set an "outperform" rating for the company in a report on Wednesday, October 28th. Robert W. Baird set a $125.00 price objective on Itron in a research note on Wednesday, July 29th. Seaport Research Partners reaffirmed a "buy" rating and issued a $150.00 price objective on shares of Itron in a report on Wednesday, July 29th. Needham & Company LLC boosted their target price on shares of Itron from $128.00 to $137.00 and gave the company a "buy" rating in a research note on Tuesday, October 27th. Finally, JPMorgan Chase & Co. increased their target price on shares of Itron from $107.00 to $109.00 and gave the stock an "overweight" rating in a report on Wednesday, October 28th. Nine research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Itron has a consensus rating of "Moderate Buy" and a consensus price target of $129.20.

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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