Itron (NASDAQ:ITRI) Stock: Insider David Marshall Wright Sells 410 Shares

Itron, Inc. (NASDAQ:ITRI) CAO David Wright sold 410 shares of Itron stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $98.79, for a total value of $40,503.90. Following the transaction, the chief accounting officer owned 7,341 shares of the company’s stock, valued at $725,217.39. The trade was a 5.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

David Marshall Wright also recently made the following trade(s):

• On Monday, November 2nd, David Wright sold 820 shares of Itron stock. The stock was sold at an average price of $100.00, for a total value of $82,000.00.
• On Monday, November 2nd, David Wright sold 100 shares of Itron stock. The shares were sold at an average price of $100.08, for a total value of $10,008.00.
• On Monday, August 24th, David Wright sold 76 shares of Itron stock. The shares were sold at an average price of $98.79, for a total value of $7,508.04.
• On Thursday, August 20th, David Wright sold 58 shares of Itron stock. The stock was sold at an average price of $97.83, for a total value of $5,674.14.

Itron Price Performance

Shares of NASDAQ ITRI opened at $99.39 on Friday. The stock has a market capitalization of $4.36 billion, a price-to-earnings ratio of 13.58, a PEG ratio of 1.15 and a beta of 1.33. Itron, Inc. has a 12 month low of $77.77 and a 12 month high of $108.20. The firm’s 50 day simple moving average is $91.10 and its 200-day simple moving average is $91.05. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.83 and a quick ratio of 2.36.

Itron (NASDAQ:ITRI) last posted its earnings results on Tuesday, October 27th. The scientific and technical instruments company reported $1.94 earnings per share for the quarter, beating the consensus estimate of $1.56 by $0.38. Itron had a net margin of 12.05% and a return on equity of 20.11%. The firm had revenue of $599.33 million during the quarter, compared to analyst estimates of $595.50 million. During the same period in the previous year, the firm earned $1.54 EPS. The business’s quarterly revenue was up 3.0% on a year-over-year basis. Analysts expect that Itron, Inc. will post 6.78 EPS for the current year.

Wall Street Analyst Weigh In

ITRI has been the topic of several research analyst reports. Seaport Research Partners reissued a “buy” rating and issued a $150.00 price objective on shares of Itron in a report on Wednesday, July 29th. BNP Paribas Exane reduced their target price on Itron from $115.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday, October 28th. Zacks Research lowered Itron from a “strong-buy” rating to a “hold” rating in a research report on Monday, October 19th. Oppenheimer reiterated an “outperform” rating on shares of Itron in a research report on Wednesday, October 28th. Finally, Wall Street Zen raised shares of Itron from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. Nine analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $129.20.

Institutional Trading of Itron

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Jupiter Topco LLC bought a new stake in Itron during the 2nd quarter worth about $42,466,000. Legal & General Group Plc acquired a new position in Itron during the 2nd quarter valued at about $29,108,000. Dimensional Fund Advisors LP boosted its stake in Itron by 20.9% in the first quarter. Dimensional Fund Advisors LP now owns 1,536,081 shares of the scientific and technical instruments company’s stock valued at $137,659,000 after acquiring an additional 265,039 shares during the last quarter. Hsbc Holdings PLC bought a new position in shares of Itron in the 2nd quarter worth $20,755,000. Finally, Bank of America Corp DE acquired a new position in shares of Itron during the 2nd quarter worth about $20,220,000. 96.19% of the stock is owned by institutional investors and hedge funds.

About Itron

Itron, Inc is a technology company that provides solutions to utilities and cities for managing electricity, natural gas, and water resources. Its offerings help organizations measure consumption, collect and analyze data, improve operational efficiency, and support more reliable and sustainable delivery of essential services.

The company’s portfolio includes smart meters, advanced metering infrastructure, communications networks, sensors, data management systems, and utility software.