Itron (NASDAQ:ITRI) CAO Sells $40,503.90 in Stock

Itron, Inc. (NASDAQ:ITRI) CAO David Wright sold 410 shares of the business’s stock in a transaction on Tuesday, November 3rd. The shares were sold at an average price of $98.79, for a total transaction of $40,503.90. Following the transaction, the chief accounting officer directly owned 7,341 shares of the company’s stock, valued at approximately $725,217.39. This trade represents a 5.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

Itron Stock Performance

Itron stock traded up $3.70 during midday trading on Wednesday, reaching $101.92. 223,470 shares of the stock traded hands, compared to its average volume of 821,804. Itron, Inc. has a fifty-two week low of $77.77 and a fifty-two week high of $108.20. The company has a current ratio of 2.83, a quick ratio of 2.36 and a debt-to-equity ratio of 0.92. The firm has a market cap of $4.47 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 1.13 and a beta of 1.33. The firm has a fifty day moving average price of $91.04 and a two-hundred day moving average price of $91.05.

Itron (NASDAQ:ITRI) last released its quarterly earnings results on Tuesday, October 27th. The scientific and technical instruments company reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.38. The company had revenue of $599.33 million for the quarter, compared to analysts’ expectations of $595.50 million. Itron had a return on equity of 20.11% and a net margin of 12.05%. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.54 earnings per share. On average, equities research analysts forecast that Itron, Inc. will post 6.78 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Readystate Asset Management LP bought a new position in shares of Itron in the second quarter valued at $1,809,000. Assenagon Asset Management S.A. increased its stake in Itron by 160.4% in the 2nd quarter. Assenagon Asset Management S.A. now owns 336,710 shares of the scientific and technical instruments company’s stock worth $29,136,000 after purchasing an additional 207,416 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Itron by 12.2% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 673,420 shares of the scientific and technical instruments company’s stock worth $60,359,000 after buying an additional 73,020 shares during the period. WCM Investment Management LLC raised its holdings in Itron by 49.5% during the 1st quarter. WCM Investment Management LLC now owns 87,175 shares of the scientific and technical instruments company’s stock worth $7,312,000 after buying an additional 28,857 shares during the period. Finally, John G Ullman & Associates Inc. lifted its stake in Itron by 37.4% during the first quarter. John G Ullman & Associates Inc. now owns 80,656 shares of the scientific and technical instruments company’s stock valued at $7,229,000 after buying an additional 21,975 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 a number of recent analyst reports. BNP Paribas Exane cut their price objective on shares of Itron from $115.00 to $105.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 28th. Weiss Ratings lowered Itron from a “hold (c+)” rating to a “hold (c-)” rating in a research note on Wednesday, October 28th. Robert W. Baird set a $125.00 price objective on Itron in a research note on Wednesday, July 29th. Needham & Company LLC boosted their price objective on Itron from $128.00 to $137.00 and gave the stock a “buy” rating in a research note on Tuesday, October 27th. Finally, Oppenheimer restated an “outperform” rating on shares of Itron in a report on Wednesday, October 28th. Nine analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Itron currently has an average rating of “Moderate Buy” and an average price target of $129.20.

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.