American International Group Inc. Lowers Stock Position in Itron, Inc. (NASDAQ:ITRI)

American International Group Inc. lessened its holdings in Itron, Inc. (NASDAQ:ITRI) by 0.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 24,795 shares of the scientific and technical instruments company’s stock after selling 207 shares during the period. American International Group Inc. owned about 0.05% of Itron worth $1,872,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of ITRI. GAMMA Investing LLC purchased a new stake in shares of Itron in the 4th quarter worth approximately $27,000. Covestor Ltd lifted its position in shares of Itron by 9,150.0% in the 3rd quarter. Covestor Ltd now owns 555 shares of the scientific and technical instruments company’s stock worth $34,000 after purchasing an additional 549 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in Itron during the fourth quarter valued at approximately $50,000. C M Bidwell & Associates Ltd. purchased a new stake in Itron during the fourth quarter valued at approximately $76,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in Itron during the fourth quarter valued at approximately $81,000. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Itron Stock Down 1.3 %

NASDAQ:ITRI opened at $97.33 on Wednesday. The firm has a market capitalization of $4.46 billion, a P/E ratio of 27.97, a PEG ratio of 0.95 and a beta of 1.47. Itron, Inc. has a 1-year low of $56.11 and a 1-year high of $111.00. The company’s fifty day moving average price is $103.32 and its 200-day moving average price is $88.73. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.90 and a quick ratio of 1.40.

Itron (NASDAQ:ITRI) last released its quarterly earnings data on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.39. The firm had revenue of $603.44 million for the quarter, compared to analyst estimates of $579.49 million. Itron had a net margin of 7.03% and a return on equity of 14.51%. The business’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.49 earnings per share. As a group, equities research analysts anticipate that Itron, Inc. will post 4 EPS for the current year.

Wall Street Analysts Forecast Growth

ITRI has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their target price on shares of Itron from $77.00 to $92.00 and gave the company a “neutral” rating in a research report on Wednesday, March 13th. Robert W. Baird upped their price target on shares of Itron from $108.00 to $115.00 and gave the company an “outperform” rating in a research note on Wednesday, March 13th. Oppenheimer upped their price target on shares of Itron from $100.00 to $110.00 and gave the company an “outperform” rating in a research note on Friday, May 3rd. Stephens upped their price target on shares of Itron from $85.00 to $110.00 and gave the company an “equal weight” rating in a research note on Monday, May 6th. Finally, Canaccord Genuity Group upped their price target on shares of Itron from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Five investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $104.64.

Insider Activity at Itron

In related news, CEO Thomas Deitrich sold 873 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $108.87, for a total transaction of $95,043.51. Following the sale, the chief executive officer now owns 206,163 shares in the company, valued at $22,444,965.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, CEO Thomas Deitrich sold 873 shares of the firm’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $108.87, for a total transaction of $95,043.51. Following the sale, the chief executive officer now owns 206,163 shares in the company, valued at $22,444,965.81. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Christopher E. Ware sold 311 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $106.84, for a total transaction of $33,227.24. Following the sale, the senior vice president now owns 15,371 shares in the company, valued at approximately $1,642,237.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,775 shares of company stock worth $192,613. 1.45% of the stock is owned by company insiders.

Itron 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.