Peregrine Capital Management LLC Sells 20,395 Shares of Itron, Inc. (NASDAQ:ITRI)

Peregrine Capital Management LLC trimmed its position in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 15.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 110,466 shares of the scientific and technical instruments company's stock after selling 20,395 shares during the period. Peregrine Capital Management LLC owned 0.24% of Itron worth $8,341,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently bought and sold shares of ITRI. Federated Hermes Inc. increased its holdings in Itron by 233.6% in the 1st quarter. Federated Hermes Inc. now owns 622,483 shares of the scientific and technical instruments company's stock valued at $32,793,000 after acquiring an additional 435,870 shares during the last quarter. Norges Bank bought a new stake in Itron in the 4th quarter valued at $20,846,000. Amundi increased its holdings in Itron by 18.3% in the 4th quarter. Amundi now owns 2,600,319 shares of the scientific and technical instruments company's stock valued at $133,785,000 after acquiring an additional 401,394 shares during the last quarter. Employees Retirement System of Texas bought a new stake in Itron in the 4th quarter valued at $14,519,000. Finally, Clearbridge Investments LLC bought a new stake in Itron in the 1st quarter valued at $13,588,000. 96.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Itron

In other Itron news, Director Jerome J. Lande sold 14,896 shares of the business's stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $95.25, for a total value of $1,418,844.00. Following the completion of the sale, the director now directly owns 5,750 shares of the company's stock, valued at approximately $547,687.50. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Joan S. Hooper sold 1,560 shares of the business's stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total value of $117,577.20. Following the completion of the sale, the chief financial officer now owns 60,141 shares in the company, valued at approximately $4,532,827.17. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Jerome J. Lande sold 14,896 shares of the business's stock in a transaction dated Thursday, March 7th. The shares were sold at an average price of $95.25, for a total transaction of $1,418,844.00. Following the completion of the sale, the director now owns 5,750 shares of the company's stock, valued at approximately $547,687.50. The disclosure for this sale can be found here. Insiders sold a total of 30,467 shares of company stock valued at $2,752,520 in the last three months. Company insiders own 1.45% of the company's stock.

Itron Trading Down 0.6 %

Itron stock traded down $0.57 during trading hours on Wednesday, hitting $90.49. The company had a trading volume of 365,415 shares, compared to its average volume of 408,887. The firm has a market cap of $4.15 billion, a P/E ratio of 43.09, a P/E/G ratio of 1.02 and a beta of 1.41. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.43 and a current ratio of 1.95. Itron, Inc. has a 1 year low of $50.60 and a 1 year high of $96.73. The company has a 50-day moving average price of $85.53 and a two-hundred day moving average price of $73.39.

Itron (NASDAQ:ITRI - Get Free Report) last released its quarterly earnings data on Monday, February 26th. The scientific and technical instruments company reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.75 by $0.48. The company had revenue of $577.17 million during the quarter, compared to analysts' expectations of $569.90 million. Itron had a net margin of 4.46% and a return on equity of 12.27%. The firm's quarterly revenue was up 23.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.71 EPS. On average, sell-side analysts anticipate that Itron, Inc. will post 3.61 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Raymond James cut shares of Itron from an "outperform" rating to a "market perform" rating in a research note on Thursday, January 4th. Robert W. Baird lifted their price objective on shares of Itron from $108.00 to $115.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 13th. TD Cowen lifted their price objective on shares of Itron from $107.00 to $110.00 and gave the stock an "outperform" rating in a research note on Wednesday, March 13th. Piper Sandler lifted their price objective on shares of Itron from $91.00 to $105.00 and gave the stock an "overweight" rating in a research note on Tuesday, February 27th. Finally, Oppenheimer raised shares of Itron from a "market perform" rating to an "outperform" rating and set a $81.00 price objective for the company in a research note on Friday, January 19th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, Itron has an average rating of "Moderate Buy" and an average price target of $95.80.

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.