Principal Financial Group Inc. Lowers Stock Holdings in Itron, Inc. $ITRI

Principal Financial Group Inc. reduced its holdings in shares of Itron, Inc. (NASDAQ:ITRI) by 3.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 261,092 shares of the scientific and technical instruments company’s stock after selling 9,744 shares during the period. Principal Financial Group Inc.’s holdings in Itron were worth $32,522,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in Itron by 2.0% during the 2nd quarter. Geode Capital Management LLC now owns 1,109,851 shares of the scientific and technical instruments company’s stock worth $146,107,000 after acquiring an additional 21,925 shares in the last quarter. Handelsbanken Fonder AB raised its stake in Itron by 21.2% in the second quarter. Handelsbanken Fonder AB now owns 943,564 shares of the scientific and technical instruments company’s stock valued at $124,201,000 after buying an additional 165,300 shares in the last quarter. First Trust Advisors LP lifted its holdings in Itron by 2.6% during the 2nd quarter. First Trust Advisors LP now owns 757,719 shares of the scientific and technical instruments company’s stock worth $99,739,000 after buying an additional 19,476 shares during the last quarter. Impax Asset Management Group plc acquired a new position in shares of Itron during the 2nd quarter worth about $91,998,000. Finally, Norges Bank purchased a new position in shares of Itron in the 2nd quarter valued at about $71,727,000. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Insider Activity

In other Itron news, SVP Christopher E. Ware sold 343 shares of the business’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $96.51, for a total transaction of $33,102.93. Following the transaction, the senior vice president owned 18,774 shares in the company, valued at $1,811,878.74. The trade was a 1.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP John F. Marcolini sold 553 shares of the stock in a transaction dated Monday, November 24th. The shares were sold at an average price of $96.51, for a total value of $53,370.03. Following the completion of the sale, the senior vice president owned 13,843 shares of the company’s stock, valued at approximately $1,335,987.93. This trade represents a 3.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 2,971 shares of company stock worth $286,731 in the last quarter. Insiders own 1.45% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ITRI shares. Argus restated a “hold” rating on shares of Itron in a research note on Tuesday, November 4th. Robert W. Baird reiterated a “neutral” rating and set a $118.00 target price (down previously from $137.00) on shares of Itron in a research report on Friday, October 31st. Stephens upgraded Itron from an “equal weight” rating to an “overweight” rating and set a $130.00 price target on the stock in a research note on Monday, November 3rd. Johnson Rice upgraded shares of Itron from an “accumulate” rating to a “buy” rating and set a $130.00 target price on the stock in a research report on Monday, January 5th. Finally, Wall Street Zen lowered shares of Itron from a “buy” rating to a “hold” rating in a research report on Wednesday, January 14th. Eight research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Itron has a consensus rating of “Moderate Buy” and an average price target of $136.10.

Itron Trading Down 2.3%

Shares of ITRI stock opened at $99.56 on Friday. The company has a quick ratio of 1.91, a current ratio of 2.17 and a debt-to-equity ratio of 0.46. Itron, Inc. has a fifty-two week low of $90.11 and a fifty-two week high of $142.00. The firm’s 50 day moving average price is $97.54 and its two-hundred day moving average price is $112.76. The stock has a market cap of $4.56 billion, a price-to-earnings ratio of 17.91, a price-to-earnings-growth ratio of 0.58 and a beta of 1.48.

Itron Profile

Itron, Inc (NASDAQ: ITRI) is a global technology company that develops innovative solutions to measure, manage and analyze the use of energy and water. Its comprehensive portfolio includes smart meters, data collection devices, communication networks and advanced software applications designed to optimize utility operations and foster sustainable resource management. The company’s offerings enable utilities and cities to accurately monitor consumption patterns, streamline billing processes and improve grid reliability.

Itron’s product lineup spans a range of hardware and software solutions, from residential and commercial smart meters to meter data management systems (MDMS), networked communication platforms and analytics tools.