Insider Selling: Itron, Inc. (NASDAQ:ITRI) SVP Sells $62,762.70 in Stock

Itron, Inc. (NASDAQ:ITRI - Get Free Report) SVP John F. Marcolini sold 546 shares of the firm's stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $114.95, for a total value of $62,762.70. Following the completion of the transaction, the senior vice president now directly owns 21,865 shares in the company, valued at approximately $2,513,381.75. This represents a 2.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Itron Price Performance

Shares of Itron stock traded up $2.44 on Friday, hitting $116.15. 649,684 shares of the company traded hands, compared to its average volume of 577,070. Itron, Inc. has a 52 week low of $90.11 and a 52 week high of $124.90. The business has a 50-day simple moving average of $106.85 and a 200 day simple moving average of $107.70. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36. The stock has a market capitalization of $5.30 billion, a P/E ratio of 23.80, a price-to-earnings-growth ratio of 0.81 and a beta of 1.31.

Itron (NASDAQ:ITRI - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The scientific and technical instruments company reported $1.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.30 by $0.22. The company had revenue of $607.15 million for the quarter, compared to the consensus estimate of $608.86 million. Itron had a net margin of 9.37% and a return on equity of 19.03%. Itron's revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.24 EPS. Research analysts expect that Itron, Inc. will post 5.33 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Itron

Large investors have recently made changes to their positions in the company. Janney Montgomery Scott LLC grew its holdings in Itron by 45.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 16,674 shares of the scientific and technical instruments company's stock valued at $1,810,000 after buying an additional 5,249 shares in the last quarter. Mount Yale Investment Advisors LLC bought a new position in shares of Itron during the 4th quarter valued at approximately $286,000. Moody Aldrich Partners LLC boosted its position in shares of Itron by 7.3% during the 4th quarter. Moody Aldrich Partners LLC now owns 43,053 shares of the scientific and technical instruments company's stock valued at $4,675,000 after acquiring an additional 2,945 shares during the last quarter. Hager Investment Management Services LLC purchased a new position in shares of Itron in the fourth quarter valued at $67,000. Finally, Measured Wealth Private Client Group LLC increased its position in Itron by 9.7% in the fourth quarter. Measured Wealth Private Client Group LLC now owns 3,814 shares of the scientific and technical instruments company's stock worth $414,000 after purchasing an additional 338 shares during the last quarter. 96.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ITRI. Wall Street Zen upgraded Itron from a "hold" rating to a "buy" rating in a research report on Saturday, May 24th. Guggenheim reissued a "buy" rating and issued a $133.00 target price on shares of Itron in a report on Thursday, April 17th. Piper Sandler decreased their target price on shares of Itron from $124.00 to $121.00 and set a "neutral" rating on the stock in a research note on Monday, May 5th. Canaccord Genuity Group lifted their price target on shares of Itron from $130.00 to $132.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Finally, Oppenheimer increased their price objective on shares of Itron from $124.00 to $131.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Itron has an average rating of "Moderate Buy" and a consensus price target of $127.36.

Itron Company 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.