Insider Selling: Itron, Inc. (ITRI) COO Sells 11,899 Shares of Stock
Itron, Inc. (NASDAQ:ITRI) COO Thomas Deitrich sold 11,899 shares of the business’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $69.27, for a total transaction of $824,243.73. Following the transaction, the chief operating officer now directly owns 82,776 shares in the company, valued at approximately $5,733,893.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Itron, Inc. (NASDAQ:ITRI) traded up $1.10 during trading hours on Wednesday, hitting $70.55. 256,200 shares of the stock traded hands, compared to its average volume of 207,042. Itron, Inc. has a 52 week low of $57.80 and a 52 week high of $79.95. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.67 and a quick ratio of 1.26. The firm has a market cap of $2,689.47, a P/E ratio of 25.44, a PEG ratio of 1.11 and a beta of 1.00.
Itron (NASDAQ:ITRI) last issued its earnings results on Wednesday, November 1st. The scientific and technical instruments company reported $0.77 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.12). Itron had a net margin of 3.42% and a return on equity of 14.84%. The firm had revenue of $486.75 million during the quarter, compared to analyst estimates of $526.55 million. During the same quarter in the prior year, the firm posted $0.77 EPS. The firm’s revenue for the quarter was down 4.0% on a year-over-year basis. equities research analysts predict that Itron, Inc. will post 2.99 earnings per share for the current fiscal year.
Several large investors have recently modified their holdings of ITRI. Bank of New York Mellon Corp boosted its stake in shares of Itron by 94.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 895,681 shares of the scientific and technical instruments company’s stock valued at $60,683,000 after purchasing an additional 434,500 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Itron in the 3rd quarter valued at $23,661,000. Cramer Rosenthal Mcglynn LLC acquired a new stake in shares of Itron in the 3rd quarter valued at $18,102,000. Renaissance Technologies LLC boosted its stake in shares of Itron by 38.1% in the 2nd quarter. Renaissance Technologies LLC now owns 719,661 shares of the scientific and technical instruments company’s stock valued at $48,757,000 after purchasing an additional 198,700 shares in the last quarter. Finally, Neuberger Berman Group LLC boosted its stake in shares of Itron by 13.5% in the 3rd quarter. Neuberger Berman Group LLC now owns 688,848 shares of the scientific and technical instruments company’s stock valued at $53,351,000 after purchasing an additional 82,196 shares in the last quarter. Institutional investors own 93.74% of the company’s stock.
Several equities research analysts have issued reports on ITRI shares. Zacks Investment Research raised shares of Itron from a “hold” rating to a “buy” rating and set a $81.00 price target on the stock in a report on Monday, August 28th. JMP Securities set a $102.00 price target on shares of Itron and gave the company a “buy” rating in a report on Thursday, October 12th. Argus reissued a “buy” rating and issued a $80.00 price target (up previously from $78.00) on shares of Itron in a report on Tuesday, September 12th. Needham & Company LLC reissued a “buy” rating and issued a $84.00 price target on shares of Itron in a report on Friday, November 3rd. Finally, Canaccord Genuity lowered shares of Itron from a “buy” rating to a “hold” rating and set a $78.00 price target on the stock. in a report on Tuesday, September 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company’s stock. Itron presently has an average rating of “Hold” and an average target price of $81.78.
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Itron Company Profile
Itron, Inc (Itron) is a technology and service company. The Company provides solutions that measure, manage and analyze energy and water use. The Company operates through three segments: Electricity, Gas and Water. It provides a portfolio of products, solutions, software and services to electric, gas and water utility customers across the globe.
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