Truvestments Capital LLC Sells 134 Shares of Itron, Inc. (NASDAQ:ITRI)

Truvestments Capital LLC reduced its stake in Itron, Inc. (NASDAQ:ITRI) by 9.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,275 shares of the scientific and technical instruments company’s stock after selling 134 shares during the period. Truvestments Capital LLC’s holdings in Itron were worth $118,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also made changes to their positions in ITRI. Norges Bank bought a new stake in shares of Itron in the fourth quarter valued at approximately $24,504,000. Mesirow Institutional Investment Management Inc. acquired a new position in Itron during the fourth quarter valued at approximately $11,654,000. Braun Stacey Associates Inc. raised its position in Itron by 140.6% during the fourth quarter. Braun Stacey Associates Inc. now owns 216,188 shares of the scientific and technical instruments company’s stock valued at $16,324,000 after purchasing an additional 126,328 shares in the last quarter. Vontobel Holding Ltd. raised its position in Itron by 16.0% during the fourth quarter. Vontobel Holding Ltd. now owns 804,648 shares of the scientific and technical instruments company’s stock valued at $60,759,000 after purchasing an additional 110,849 shares in the last quarter. Finally, Quadrature Capital Ltd acquired a new position in Itron during the first quarter valued at approximately $5,718,000. 96.19% of the stock is currently owned by institutional investors.

Itron Trading Up 2.3 %

Shares of Itron stock traded up $2.37 during trading on Friday, hitting $103.56. The company’s stock had a trading volume of 630,649 shares, compared to its average volume of 662,523. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.90 and a quick ratio of 1.40. Itron, Inc. has a 52 week low of $56.11 and a 52 week high of $111.00. The stock has a market cap of $4.75 billion, a price-to-earnings ratio of 29.76, a price-to-earnings-growth ratio of 0.97 and a beta of 1.45. The stock has a 50-day moving average price of $103.85 and a two-hundred day moving average price of $92.93.

Itron (NASDAQ:ITRI) last issued its quarterly earnings data on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share for the quarter, topping the consensus estimate of $0.85 by $0.39. Itron had a net margin of 7.03% and a return on equity of 14.51%. The company had revenue of $603.44 million for the quarter, compared to analysts’ expectations of $579.49 million. During the same quarter in the previous year, the firm posted $0.49 earnings per share. Itron’s revenue for the quarter was up 22.0% on a year-over-year basis. Equities research analysts anticipate that Itron, Inc. will post 4.1 EPS for the current fiscal year.

Analysts Set New Price Targets

ITRI has been the subject of several research analyst reports. Canaccord Genuity Group boosted their price objective on shares of Itron from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, June 20th. Roth Mkm boosted their price objective on shares of Itron from $112.00 to $122.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Stephens boosted their price objective on shares of Itron from $85.00 to $110.00 and gave the company an “equal weight” rating in a research report on Monday, May 6th. Piper Sandler boosted their price objective on shares of Itron from $109.00 to $110.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Finally, JPMorgan Chase & Co. upped their price target on shares of Itron from $104.00 to $112.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $112.09.

Insider Buying and Selling

In related news, SVP Christopher E. Ware sold 311 shares of the business’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $106.84, for a total value of $33,227.24. Following the sale, the senior vice president now owns 15,371 shares of the company’s stock, valued at $1,642,237.64. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Itron news, SVP Christopher E. Ware sold 311 shares of the company’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $106.84, for a total transaction of $33,227.24. Following the sale, the senior vice president now owns 15,371 shares of the company’s stock, valued at $1,642,237.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joan S. Hooper sold 501 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $108.87, for a total transaction of $54,543.87. Following the sale, the chief financial officer now directly owns 72,847 shares in the company, valued at approximately $7,930,852.89. The disclosure for this sale can be found here. Insiders have sold a total of 1,775 shares of company stock valued at $192,613 over the last 90 days. 1.45% of the stock is owned by insiders.

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.