Insider Selling: Itron, Inc. (NASDAQ:ITRI) CFO Sells 2,322 Shares of Stock

Itron, Inc. (NASDAQ:ITRI) CFO Joan S. Hooper sold 2,322 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.90, for a total transaction of $215,713.80. Following the sale, the chief financial officer now directly owns 92,076 shares of the company’s stock, valued at approximately $8,553,860.40. The trade was a 2.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Itron Stock Performance

Shares of Itron stock traded up $9.21 during trading on Tuesday, hitting $101.81. 2,808,142 shares of the company’s stock were exchanged, compared to its average volume of 598,323. The stock has a market capitalization of $4.59 billion, a price-to-earnings ratio of 20.86, a PEG ratio of 0.81 and a beta of 1.46. The business has a 50-day simple moving average of $104.99 and a 200-day simple moving average of $106.84. Itron, Inc. has a 52-week low of $83.60 and a 52-week high of $124.90. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36.

Itron (NASDAQ:ITRI) last issued its quarterly earnings data on Tuesday, February 25th. The scientific and technical instruments company reported $1.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.30. Itron had a return on equity of 19.03% and a net margin of 9.37%. On average, research analysts forecast that Itron, Inc. will post 5.33 EPS for the current year.

Institutional Investors Weigh In On Itron

Hedge funds have recently bought and sold shares of the stock. GeoWealth Management LLC increased its holdings in shares of Itron by 4,580.0% during the 4th quarter. GeoWealth Management LLC now owns 234 shares of the scientific and technical instruments company’s stock valued at $25,000 after purchasing an additional 229 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in Itron during the fourth quarter valued at $30,000. Continuum Advisory LLC increased its holdings in Itron by 42.1% in the third quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company’s stock valued at $40,000 after buying an additional 102 shares in the last quarter. Quarry LP raised its position in shares of Itron by 29.0% in the third quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company’s stock worth $48,000 after acquiring an additional 102 shares during the period. Finally, Covestor Ltd boosted its stake in shares of Itron by 26.1% during the 3rd quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock worth $57,000 after acquiring an additional 111 shares in the last quarter. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Analysts Set New Price Targets

ITRI has been the subject of a number of analyst reports. Robert W. Baird increased their target price on shares of Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. TD Cowen increased their price objective on Itron from $125.00 to $136.00 and gave the company a “buy” rating in a report on Friday, November 1st. Roth Mkm raised their price objective on Itron from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Piper Sandler upped their target price on Itron from $110.00 to $119.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, Guggenheim raised their price target on Itron from $128.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Three investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.92.

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.