Itron (NASDAQ:ITRI) CAO Sells $82,000.00 in Stock

Itron, Inc. (NASDAQ:ITRI) CAO David Wright sold 820 shares of the business’s stock in a transaction dated Monday, November 2nd. The stock was sold at an average price of $100.00, for a total value of $82,000.00. Following the sale, the chief accounting officer owned 410 shares in the company, valued at $41,000. The trade was a 66.67% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

David Marshall Wright also recently made the following trade(s):

• On Tuesday, November 3rd, David Wright sold 410 shares of Itron stock. The shares were sold at an average price of $98.79, for a total transaction of $40,503.90.
• On Monday, November 2nd, David Wright sold 100 shares of Itron stock. The shares were 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 stock was sold at an average price of $97.83, for a total transaction of $5,674.14.

Itron Stock Performance

Itron stock traded up $3.70 during mid-day trading on Wednesday, reaching $101.92. 223,470 shares of the company traded hands, compared to its average volume of 821,804. The company has a debt-to-equity ratio of 0.92, a current ratio of 2.83 and a quick ratio of 2.36. Itron, Inc. has a fifty-two week low of $77.77 and a fifty-two week high of $108.20. The company has a market capitalization of $4.47 billion, a price-to-earnings ratio of 16.45, a price-to-earnings-growth ratio of 1.13 and a beta of 1.33. The firm’s fifty day moving average is $91.04 and its two-hundred day moving average is $91.05.

Itron (NASDAQ:ITRI) last posted its quarterly earnings data 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. Itron had a net margin of 12.05% and a return on equity of 20.11%. The business had revenue of $599.33 million during the quarter, compared to the consensus estimate of $595.50 million. During the same period in the previous year, the firm posted $1.54 earnings per share. The business’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, equities research analysts expect that Itron, Inc. will post 6.78 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Jupiter Topco LLC acquired a new position in shares of Itron in the second quarter worth about $42,466,000. Legal & General Group Plc acquired a new stake in shares of Itron during the 2nd quarter valued at about $29,108,000. Dimensional Fund Advisors LP grew its position in shares of Itron by 20.9% during the 1st 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 acquiring an additional 265,039 shares during the period. Hsbc Holdings PLC purchased a new position in shares of Itron in the 2nd quarter valued at about $20,755,000. Finally, Bank of America Corp DE purchased a new position in shares of Itron in the 2nd quarter valued at about $20,220,000. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Wall Street Analysts Forecast Growth

ITRI has been the subject of a number of research reports. JPMorgan Chase & Co. lifted their price target on Itron from $107.00 to $109.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 28th. Weiss Ratings lowered Itron from a “hold (c+)” rating to a “hold (c-)” rating in a report on Wednesday, October 28th. Zacks Research cut Itron from a “strong-buy” rating to a “hold” rating in a research note on Monday, October 19th. Needham & Company LLC lifted their target price on Itron from $128.00 to $137.00 and gave the stock a “buy” rating in a report on Tuesday, October 27th. Finally, Wall Street Zen upgraded Itron from a “hold” rating to a “buy” rating in a research report on Saturday. Nine investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $129.20.

Itron Company Profile

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.