Itron, Inc. (NASDAQ:ITRI) CAO David Marshall Wright Sells 102 Shares

Itron, Inc. (NASDAQ:ITRI) CAO David Marshall Wright sold 102 shares of Itron stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $114.95, for a total value of $11,724.90. Following the sale, the chief accounting officer now directly owns 7,791 shares in the company, valued at $895,575.45. The trade was a 1.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Itron Stock Performance

Shares of Itron stock traded down $2.22 during trading on Wednesday, reaching $113.28. The company’s stock had a trading volume of 364,010 shares, compared to its average volume of 575,011. The business’s fifty day moving average price is $106.44 and its 200-day moving average price is $107.77. Itron, Inc. has a one year low of $90.11 and a one year high of $124.90. The firm has a market cap of $5.16 billion, a price-to-earnings 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.

Itron (NASDAQ:ITRI) last posted its quarterly earnings data 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. Itron had a return on equity of 19.03% and a net margin of 9.37%. The company had revenue of $607.15 million during the quarter, compared to analysts’ expectations of $608.86 million. During the same period in the prior year, the business earned $1.24 earnings per share. Itron’s revenue for the quarter was up .6% compared to the same quarter last year. As a group, equities research analysts predict that Itron, Inc. will post 5.33 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Strs Ohio bought a new stake in shares of Itron in the 1st quarter worth approximately $430,000. Intech Investment Management LLC raised its holdings in shares of Itron by 17.7% in the 1st quarter. Intech Investment Management LLC now owns 48,699 shares of the scientific and technical instruments company’s stock worth $5,102,000 after buying an additional 7,336 shares in the last quarter. Bayforest Capital Ltd lifted its position in shares of Itron by 43.9% during the 1st quarter. Bayforest Capital Ltd now owns 3,980 shares of the scientific and technical instruments company’s stock worth $417,000 after buying an additional 1,215 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in Itron by 129.7% in 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 buying an additional 413,487 shares in the last quarter. Finally, Optimize Financial Inc boosted its stake in Itron by 2.7% in the 1st quarter. Optimize Financial Inc now owns 17,570 shares of the scientific and technical instruments company’s stock valued at $1,841,000 after buying an additional 463 shares in the last quarter. Institutional investors and hedge funds own 96.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Piper Sandler dropped their price target on shares of Itron from $124.00 to $121.00 and set a “neutral” rating on the stock in a research report on Monday, May 5th. Canaccord Genuity Group raised their target price on shares of Itron from $130.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Oppenheimer upped their price objective on shares of Itron from $124.00 to $131.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Wall Street Zen raised Itron from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Guggenheim restated a “buy” rating and set a $133.00 price target on shares of Itron in a report on Thursday, April 17th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $127.36.

Itron Company 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.