Itron, Inc. (NASDAQ:ITRI) Shares Bought by Northern Trust Corp

Northern Trust Corp raised its position in Itron, Inc. (NASDAQ:ITRI - Free Report) by 11.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 572,266 shares of the scientific and technical instruments company's stock after purchasing an additional 58,546 shares during the quarter. Northern Trust Corp owned 1.27% of Itron worth $62,137,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ITRI. GeoWealth Management LLC raised its holdings in shares of Itron by 4,580.0% in the fourth quarter. GeoWealth Management LLC now owns 234 shares of the scientific and technical instruments company's stock worth $25,000 after buying an additional 229 shares during the period. Proficio Capital Partners LLC purchased a new stake in Itron in the fourth quarter worth $30,000. Hager Investment Management Services LLC purchased a new stake in Itron in the fourth quarter worth $67,000. Contravisory Investment Management Inc. boosted its stake in shares of Itron by 154.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 864 shares of the scientific and technical instruments company's stock valued at $94,000 after purchasing an additional 525 shares during the period. Finally, Smartleaf Asset Management LLC grew its holdings in shares of Itron by 347.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 886 shares of the scientific and technical instruments company's stock worth $97,000 after purchasing an additional 688 shares during the last quarter. Institutional investors own 96.19% of the company's stock.

Insider Transactions at Itron

In other news, CAO David Marshall Wright sold 317 shares of the stock in a transaction on Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $29,449.30. Following the sale, the chief accounting officer now directly owns 8,108 shares in the company, valued at approximately $753,233.20. This trade represents a 3.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Christopher E. Ware sold 648 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.90, for a total value of $60,199.20. Following the completion of the sale, the senior vice president now directly owns 20,326 shares in the company, valued at $1,888,285.40. This represents a 3.09% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,187 shares of company stock worth $945,620 in the last ninety days. Insiders own 1.45% of the company's stock.

Itron Stock Performance

Shares of Itron stock traded up $2.24 during trading on Monday, hitting $110.82. 73,846 shares of the company's stock were exchanged, compared to its average volume of 566,548. The stock has a market capitalization of $5.05 billion, a price-to-earnings ratio of 22.62, a PEG ratio of 0.81 and a beta of 1.31. The business has a 50-day simple moving average of $104.39 and a 200-day simple moving average of $107.65. Itron, Inc. has a 52-week low of $90.11 and a 52-week high of $124.90. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36.

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

Analyst Ratings Changes

ITRI has been the subject of several research reports. Guggenheim reissued a "buy" rating and issued a $133.00 price objective on shares of Itron in a research report on Thursday, April 17th. StockNews.com lowered Itron from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 1st. Piper Sandler decreased their target price on Itron from $124.00 to $121.00 and set a "neutral" rating for the company in a research report on Monday, May 5th. Oppenheimer upped their target price on Itron from $124.00 to $131.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Finally, Canaccord Genuity Group raised their price target on Itron from $130.00 to $132.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Itron presently has a consensus rating of "Moderate Buy" and an average price target of $127.36.

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.