Itron (NASDAQ:ITRI) CAO David Marshall Wright Sells 410 Shares of Stock

Itron, Inc. (NASDAQ:ITRI) CAO David Wright sold 410 shares of the stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $98.79, for a total transaction of $40,503.90. Following the completion of the transaction, the chief accounting officer owned 7,341 shares of the company’s stock, valued at $725,217.39. This represents a 5.29% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

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 stock was 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 Price Performance

NASDAQ ITRI opened at $101.60 on Thursday. Itron, Inc. has a 12 month low of $77.77 and a 12 month high of $108.20. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.83 and a quick ratio of 2.36. The firm has a market capitalization of $4.46 billion, a PE ratio of 13.13, a P/E/G ratio of 1.11 and a beta of 1.33. The company’s 50 day simple moving average is $91.09 and its 200 day simple moving average is $91.05.

Itron (NASDAQ:ITRI) last announced its earnings results on Tuesday, October 27th. The scientific and technical instruments company reported $1.94 EPS for the quarter, topping the consensus estimate of $1.56 by $0.38. The firm 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 firm’s quarterly revenue was up 3.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.54 earnings per share. As a group, equities research analysts forecast that Itron, Inc. will post 6.78 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ITRI shares. BNP Paribas Exane cut their price objective on Itron from $115.00 to $105.00 and set an “outperform” rating for the company in a report on Wednesday, October 28th. Oppenheimer reaffirmed an “outperform” rating on shares of Itron in a report on Wednesday, October 28th. Weiss Ratings cut shares of Itron from a “hold (c+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 28th. Zacks Research downgraded shares of Itron from a “strong-buy” rating to a “hold” rating in a report on Monday, October 19th. Finally, Needham & Company LLC raised their price objective on shares of Itron from $128.00 to $137.00 and gave the company a “buy” rating in a research report on Tuesday, October 27th. Nine equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $129.20.

Institutional Investors Weigh In On Itron

A number of institutional investors and hedge funds have recently modified their holdings of ITRI. Dimensional Fund Advisors LP lifted its holdings in shares of Itron by 20.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,536,081 shares of the scientific and technical instruments company’s stock valued at $137,659,000 after purchasing an additional 265,039 shares during the last quarter. First Trust Advisors LP increased its stake in Itron by 22.2% in the 1st quarter. First Trust Advisors LP now owns 969,228 shares of the scientific and technical instruments company’s stock worth $86,872,000 after purchasing an additional 176,053 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Itron by 12.2% in 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 purchasing an additional 73,020 shares in the last quarter. Jupiter Topco LLC purchased a new position in Itron in the 2nd quarter worth about $42,466,000. Finally, Renaissance Technologies LLC raised its holdings in Itron by 10.1% during the 1st quarter. Renaissance Technologies LLC now owns 461,761 shares of the scientific and technical instruments company’s stock worth $41,388,000 after buying an additional 42,300 shares during the period. Institutional investors and hedge funds own 96.19% of the company’s stock.

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.