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

Itron, Inc. (NASDAQ:ITRI) SVP Justin K. Patrick sold 375 shares of the business’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $114.95, for a total transaction of $43,106.25. Following the completion of the sale, the senior vice president now directly owns 30,185 shares in the company, valued at approximately $3,469,765.75. This represents a 1.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Itron Trading Down 1.9%

ITRI traded down $2.22 during trading on Wednesday, reaching $113.28. 363,983 shares of the stock traded hands, compared to its average volume of 575,011. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $5.16 billion, a PE ratio of 23.21, a P/E/G ratio of 0.81 and a beta of 1.31. The stock’s 50-day moving average is $106.44 and its 200 day moving average is $107.77. Itron, Inc. has a 12 month low of $90.11 and a 12 month high of $124.90.

Itron (NASDAQ:ITRI) last released its quarterly earnings data on Thursday, May 1st. The scientific and technical instruments company reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.30 by $0.22. Itron had a net margin of 9.37% and a return on equity of 19.03%. The company had revenue of $607.15 million for the quarter, compared to analysts’ expectations of $608.86 million. During the same quarter in the prior year, the firm earned $1.24 EPS. The business’s revenue was up .6% on a year-over-year basis. Equities analysts anticipate that Itron, Inc. will post 5.33 earnings per share for the current year.

Hedge Funds Weigh In On Itron

A number of large investors have recently modified their holdings of the company. Invesco Ltd. lifted its holdings in shares of Itron by 2.7% in the 1st quarter. Invesco Ltd. now owns 2,310,769 shares of the scientific and technical instruments company’s stock worth $242,076,000 after purchasing an additional 59,962 shares in the last quarter. Amundi lifted its stake in Itron by 18.4% during the 1st quarter. Amundi now owns 929,407 shares of the scientific and technical instruments company’s stock valued at $97,313,000 after acquiring an additional 144,361 shares in the last quarter. First Trust Advisors LP lifted its stake in Itron by 9.1% during the 4th quarter. First Trust Advisors LP now owns 802,584 shares of the scientific and technical instruments company’s stock valued at $87,145,000 after acquiring an additional 66,637 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Itron by 129.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 732,274 shares of the scientific and technical instruments company’s stock valued at $76,713,000 after acquiring an additional 413,487 shares in the last quarter. Finally, Norges Bank bought a new position in Itron during the 4th quarter valued at $64,615,000. 96.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ITRI has been the topic of several analyst reports. Oppenheimer boosted 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. Guggenheim reissued a “buy” rating and issued a $133.00 price objective on shares of Itron in a research note on Thursday, April 17th. Wall Street Zen raised shares of Itron from a “hold” rating to a “buy” rating in a research note on Saturday. Canaccord Genuity Group boosted their price objective on shares of Itron from $130.00 to $132.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Finally, Piper Sandler reduced their price objective 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. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average 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.