Insider Selling: Itron (NASDAQ:ITRI) CAO Sells $40,503.90 in Stock

Itron, Inc. (NASDAQ:ITRI) CAO David Wright sold 410 shares of the firm’s stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $98.79, for a total transaction of $40,503.90. Following the completion of the transaction, the chief accounting officer directly owned 7,341 shares of the company’s stock, valued at approximately $725,217.39. This represents a 5.29% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Monday, November 2nd, David Wright sold 820 shares of Itron stock. The stock was sold at an average price of $100.00, for a total transaction of $82,000.00.
• On Monday, November 2nd, David Wright sold 100 shares of Itron stock. The stock was 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 shares were 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 shares were sold at an average price of $97.83, for a total value of $5,674.14.

Itron Stock Performance

ITRI opened at $98.44 on Friday. The stock has a market cap of $4.32 billion, a price-to-earnings ratio of 13.34, a PEG ratio of 1.13 and a beta of 1.33. The company has a quick ratio of 2.36, a current ratio of 2.83 and a debt-to-equity ratio of 0.92. The business has a 50 day moving average of $91.09 and a 200-day moving average of $91.05. Itron, Inc. has a 12-month low of $77.77 and a 12-month high of $108.20.

Itron (NASDAQ:ITRI) last released its earnings results on Tuesday, October 27th. The scientific and technical instruments company reported $1.94 earnings per share for the quarter, beating analysts’ consensus estimates of $1.56 by $0.38. The firm had revenue of $599.33 million for the quarter, compared to analysts’ expectations of $595.50 million. Itron had a net margin of 12.05% and a return on equity of 20.11%. The company’s quarterly revenue was up 3.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.54 earnings per share. On average, equities research analysts expect that Itron, Inc. will post 6.78 earnings per share for the current year.

Hedge Funds Weigh In On Itron

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP raised its position in shares of Itron by 20.9% during the first quarter. Dimensional Fund Advisors LP now owns 1,536,081 shares of the scientific and technical instruments company’s stock worth $137,659,000 after purchasing an additional 265,039 shares during the period. First Trust Advisors LP increased its holdings in shares of Itron by 22.2% during the first quarter. First Trust Advisors LP now owns 969,228 shares of the scientific and technical instruments company’s stock valued at $86,872,000 after acquiring an additional 176,053 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Itron by 12.2% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 673,420 shares of the scientific and technical instruments company’s stock worth $60,359,000 after purchasing an additional 73,020 shares in the last quarter. Jupiter Topco LLC bought a new position in Itron during the 2nd quarter worth about $42,466,000. Finally, Renaissance Technologies LLC boosted its position in Itron by 10.1% in the 1st quarter. Renaissance Technologies LLC now owns 461,761 shares of the scientific and technical instruments company’s stock worth $41,388,000 after purchasing an additional 42,300 shares in the last quarter. Institutional investors own 96.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ITRI shares. Robert W. Baird set a $125.00 price objective on shares of Itron in a research note on Wednesday, July 29th. Seaport Research Partners reaffirmed a “buy” rating and issued a $150.00 target price on shares of Itron in a research report on Wednesday, July 29th. Needham & Company LLC increased their price target on shares of Itron from $128.00 to $137.00 and gave the stock a “buy” rating in a research report on Tuesday, October 27th. BNP Paribas Exane reduced their target price on Itron from $115.00 to $105.00 and set an “outperform” rating for the company in a research note on Wednesday, October 28th. Finally, Oppenheimer restated an “outperform” rating on shares of Itron in a research report on Wednesday, October 28th. Nine analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Itron currently has a consensus rating of “Moderate Buy” and an average price target 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.