Itron, Inc. (NASDAQ:ITRI) Shares Sold by Wakefield Asset Management LLLP

Wakefield Asset Management LLLP decreased its holdings in shares of Itron, Inc. (NASDAQ:ITRI) by 24.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,091 shares of the scientific and technical instruments company’s stock after selling 3,022 shares during the quarter. Wakefield Asset Management LLLP’s holdings in Itron were worth $900,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ITRI. Hexagon Capital Partners LLC raised its position in shares of Itron by 85.6% during the 2nd quarter. Hexagon Capital Partners LLC now owns 271 shares of the scientific and technical instruments company’s stock worth $27,000 after purchasing an additional 125 shares during the period. Contravisory Investment Management Inc. boosted its holdings in shares of Itron by 61.5% during the first quarter. Contravisory Investment Management Inc. now owns 344 shares of the scientific and technical instruments company’s stock valued at $32,000 after acquiring an additional 131 shares during the period. GAMMA Investing LLC grew its position in shares of Itron by 32.7% during the first quarter. GAMMA Investing LLC now owns 491 shares of the scientific and technical instruments company’s stock worth $45,000 after acquiring an additional 121 shares during the last quarter. C M Bidwell & Associates Ltd. acquired a new stake in shares of Itron in the 4th quarter worth about $76,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new stake in Itron in the 4th quarter valued at about $81,000. Institutional investors own 96.19% of the company’s stock.

Itron Stock Down 1.8 %

ITRI stock opened at $96.74 on Friday. Itron, Inc. has a 52-week low of $56.11 and a 52-week high of $113.07. The firm has a market capitalization of $4.44 billion, a P/E ratio of 27.80, a P/E/G ratio of 0.86 and a beta of 1.45. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.16 and a quick ratio of 2.61. The company’s 50 day simple moving average is $100.45 and its 200-day simple moving average is $98.30.

Itron (NASDAQ:ITRI) last issued its quarterly earnings results on Thursday, August 1st. The scientific and technical instruments company reported $1.21 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.25. The business had revenue of $609.07 million during the quarter, compared to analyst estimates of $599.25 million. Itron had a net margin of 7.98% and a return on equity of 16.42%. Itron’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.65 earnings per share. As a group, equities research analysts anticipate that Itron, Inc. will post 4.59 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. TD Cowen lifted their price target on Itron from $115.00 to $125.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Piper Sandler increased their price target on Itron from $109.00 to $110.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Canaccord Genuity Group upped their price objective on shares of Itron from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Thursday, June 20th. Roth Mkm reissued a “buy” rating and set a $125.00 target price on shares of Itron in a research note on Wednesday, August 21st. Finally, Oppenheimer upped their target price on Itron from $110.00 to $112.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Four investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, Itron currently has an average rating of “Moderate Buy” and an average target price of $118.64.

Insider Activity at Itron

In other news, CFO Joan S. Hooper sold 509 shares of Itron stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $102.15, for a total transaction of $51,994.35. Following the completion of the sale, the chief financial officer now owns 72,338 shares in the company, valued at approximately $7,389,326.70. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, SVP Donald L. Reeves III sold 4,210 shares of the company’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total value of $425,210.00. Following the completion of the sale, the senior vice president now directly owns 16,269 shares of the company’s stock, valued at approximately $1,643,169. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Joan S. Hooper sold 509 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $102.15, for a total transaction of $51,994.35. Following the completion of the sale, the chief financial officer now owns 72,338 shares in the company, valued at $7,389,326.70. The disclosure for this sale can be found here. Insiders have sold a total of 5,776 shares of company stock worth $584,721 over the last 90 days. Insiders own 1.45% of the company’s stock.

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.