Insider Selling: Itron, Inc. (NASDAQ:ITRI) CAO Sells 317 Shares of Stock

Itron, Inc. (NASDAQ:ITRI) CAO David Marshall Wright sold 317 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $92.90, for a total value of $29,449.30. Following the completion of the sale, the chief accounting officer now owns 8,108 shares in the company, valued at $753,233.20. This trade represents a 3.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Itron Trading Down 0.8 %

Shares of ITRI opened at $106.89 on Friday. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. Itron, Inc. has a 12-month low of $86.13 and a 12-month high of $124.90. The firm has a market capitalization of $4.82 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of 0.81 and a beta of 1.46. The stock’s fifty day simple moving average is $104.98 and its 200-day simple moving average is $106.85.

Hedge Funds Weigh In On Itron

Several large investors have recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in shares of Itron by 0.5% during the third quarter. Geode Capital Management LLC now owns 1,074,940 shares of the scientific and technical instruments company’s stock valued at $114,835,000 after acquiring an additional 5,630 shares during the period. First Trust Advisors LP lifted its stake in Itron by 9.1% in the fourth 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 buying an additional 66,637 shares during the period. Norges Bank acquired a new position in Itron in the fourth quarter valued at about $64,615,000. Northern Trust Corp lifted its stake in Itron by 11.4% in the fourth quarter. Northern Trust Corp now owns 572,266 shares of the scientific and technical instruments company’s stock valued at $62,137,000 after buying an additional 58,546 shares during the period. Finally, Nuveen Asset Management LLC lifted its stake in Itron by 21.5% in the fourth quarter. Nuveen Asset Management LLC now owns 560,478 shares of the scientific and technical instruments company’s stock valued at $60,857,000 after buying an additional 99,142 shares during the period. Institutional investors and hedge funds own 96.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on ITRI. Canaccord Genuity Group boosted their price objective on Itron from $130.00 to $132.00 and gave the stock a “buy” rating in a research note on Wednesday. Guggenheim reduced their price objective on Itron from $135.00 to $133.00 and set a “buy” rating on the stock in a research note on Thursday. Oppenheimer boosted their price objective on Itron from $124.00 to $131.00 and gave the stock an “outperform” rating in a research note on Wednesday. Piper Sandler boosted their price objective on Itron from $119.00 to $124.00 and gave the stock a “neutral” rating in a research note on Thursday. Finally, TD Cowen boosted their price objective on Itron from $125.00 to $136.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $127.64.

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.