Itron, Inc. (NASDAQ:ITRI) SVP Justin K. Patrick Sells 375 Shares

Itron, Inc. (NASDAQ:ITRI - Get Free Report) SVP Justin K. Patrick sold 375 shares of the firm's stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $114.95, for a total transaction of $43,106.25. Following the completion of the transaction, the senior vice president now directly owns 30,185 shares in the company, valued at approximately $3,469,765.75. The trade was a 1.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Itron Stock Up 2.1%

Shares of NASDAQ:ITRI traded up $2.44 during midday trading on Friday, reaching $116.15. 649,684 shares of the company were exchanged, compared to its average volume of 577,070. The firm has a market cap of $5.30 billion, a PE ratio of 23.80, a P/E/G ratio of 0.81 and a beta of 1.31. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. Itron, Inc. has a fifty-two week low of $90.11 and a fifty-two week high of $124.90. The stock has a fifty day simple moving average of $106.85 and a two-hundred day simple moving average of $107.70.

Itron (NASDAQ:ITRI - Get Free Report) last released 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 the consensus estimate of $1.30 by $0.22. The firm had revenue of $607.15 million for the quarter, compared to the consensus estimate of $608.86 million. Itron had a return on equity of 19.03% and a net margin of 9.37%. The company's revenue for the quarter was up .6% on a year-over-year basis. During the same quarter last year, the business posted $1.24 EPS. As a group, sell-side analysts forecast that Itron, Inc. will post 5.33 earnings per share for the current year.

Institutional Investors Weigh In On Itron

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. GeoWealth Management LLC grew its stake in shares of Itron by 4,580.0% during 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 in the last quarter. Proficio Capital Partners LLC bought a new position in Itron in the fourth quarter valued at $30,000. Wayfinding Financial LLC acquired a new stake in Itron in the 1st quarter valued at $45,000. Hager Investment Management Services LLC bought a new stake in Itron during the 4th quarter worth about $67,000. Finally, CoreCap Advisors LLC lifted 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 worth $67,000 after buying an additional 125 shares in the last quarter. Institutional investors and hedge funds own 96.19% of the company's stock.

Analysts Set New Price Targets

ITRI has been the topic of several recent research reports. Canaccord Genuity Group raised their price target on Itron from $130.00 to $132.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Guggenheim restated a "buy" rating and set a $133.00 target price on shares of Itron in a research report on Thursday, April 17th. Wall Street Zen raised Itron from a "hold" rating to a "buy" rating in a research note on Saturday, May 24th. Oppenheimer lifted 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. Finally, Piper Sandler lowered their price objective on shares of Itron from $124.00 to $121.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. Three equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $127.36.

About Itron

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.