Donald L. Reeves III Sells 529 Shares of Itron, Inc. (NASDAQ:ITRI) Stock

Itron, Inc. (NASDAQ:ITRI) SVP Donald L. Reeves III sold 529 shares of the firm’s stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $114.95, for a total value of $60,808.55. Following the completion of the transaction, the senior vice president now directly owns 20,151 shares of the company’s stock, valued at $2,316,357.45. The trade was a 2.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Itron Trading Down 1.9%

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

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. GeoWealth Management LLC boosted its holdings in 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 valued at $25,000 after acquiring an additional 229 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in Itron in the fourth quarter valued at about $30,000. Wayfinding Financial LLC purchased a new position in Itron in the first quarter valued at about $45,000. Hager Investment Management Services LLC purchased a new position in Itron in the fourth quarter valued at about $67,000. Finally, CoreCap Advisors LLC raised its position in Itron by 25.5% in the fourth quarter. CoreCap Advisors LLC now owns 616 shares of the scientific and technical instruments company’s stock valued at $67,000 after purchasing an additional 125 shares during the period. Institutional investors and hedge funds own 96.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on ITRI shares. Guggenheim reiterated a “buy” rating and set a $133.00 target price on shares of Itron in a report on Thursday, April 17th. Canaccord Genuity Group increased their target price on Itron from $130.00 to $132.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Oppenheimer increased their target price on Itron from $124.00 to $131.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Piper Sandler lowered their target price on Itron from $124.00 to $121.00 and set a “neutral” rating on the stock in a report on Monday, May 5th. Finally, Wall Street Zen upgraded Itron from a “hold” rating to a “buy” rating in a report on Saturday. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price 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.