Rhumbline Advisers Trims Stock Holdings in Itron, Inc. (NASDAQ:ITRI)

Rhumbline Advisers lowered its holdings in shares of Itron, Inc. (NASDAQ:ITRI) by 5.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 133,735 shares of the scientific and technical instruments company’s stock after selling 8,010 shares during the quarter. Rhumbline Advisers owned 0.29% of Itron worth $13,234,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Hexagon Capital Partners LLC lifted its holdings in shares of Itron by 85.6% in the 2nd quarter. Hexagon Capital Partners LLC now owns 271 shares of the scientific and technical instruments company’s stock worth $27,000 after buying an additional 125 shares during the period. Contravisory Investment Management Inc. lifted its stake in Itron by 61.5% in the first quarter. Contravisory Investment Management Inc. now owns 344 shares of the scientific and technical instruments company’s stock worth $32,000 after acquiring an additional 131 shares during the period. GAMMA Investing LLC grew its holdings in Itron by 32.7% during the 1st quarter. GAMMA Investing LLC now owns 491 shares of the scientific and technical instruments company’s stock worth $45,000 after acquiring an additional 121 shares in the last quarter. CWM LLC increased its position in Itron by 315.6% during the 2nd quarter. CWM LLC now owns 881 shares of the scientific and technical instruments company’s stock valued at $87,000 after purchasing an additional 669 shares during the period. Finally, C M Bidwell & Associates Ltd. bought a new stake in shares of Itron in the 4th quarter valued at about $76,000. Institutional investors own 96.19% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Piper Sandler boosted their price objective on shares of Itron from $109.00 to $110.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Canaccord Genuity Group boosted their price target on Itron from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Stephens reaffirmed an “equal weight” rating and set a $110.00 price objective on shares of Itron in a research report on Monday, August 5th. Robert W. Baird boosted their target price on shares of Itron from $115.00 to $123.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Finally, Roth Mkm reissued a “buy” rating and set a $125.00 price target on shares of Itron in a research report on Wednesday, August 21st. Four equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Itron presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.64.

Insider Buying and Selling at Itron

In related news, CEO Thomas Deitrich sold 887 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $102.15, for a total value of $90,607.05. Following the transaction, the chief executive officer now owns 205,276 shares in the company, valued at approximately $20,968,943.40. The sale was disclosed in a filing with the SEC, which is available through this link. In related news, CFO Joan S. Hooper sold 509 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $102.15, for a total transaction of $51,994.35. Following the sale, the chief financial officer now directly owns 72,338 shares of the company’s stock, valued at $7,389,326.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Thomas Deitrich sold 887 shares of Itron stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $102.15, for a total value of $90,607.05. Following the transaction, the chief executive officer now owns 205,276 shares of the company’s stock, valued at $20,968,943.40. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,776 shares of company stock worth $584,721. 1.45% of the stock is currently owned by insiders.

Itron Stock Up 0.8 %

ITRI stock opened at $97.47 on Wednesday. The company has a quick ratio of 2.61, a current ratio of 3.16 and a debt-to-equity ratio of 0.98. Itron, Inc. has a 52 week low of $56.11 and a 52 week high of $113.07. The stock has a market capitalization of $4.38 billion, a PE ratio of 28.01, a price-to-earnings-growth ratio of 0.81 and a beta of 1.47. The firm has a 50 day moving average of $100.42 and a 200 day moving average of $98.78.

Itron (NASDAQ:ITRI) last posted its quarterly earnings data on Thursday, August 1st. The scientific and technical instruments company reported $1.21 EPS for the quarter, topping the consensus estimate of $0.96 by $0.25. Itron had a net margin of 7.98% and a return on equity of 16.42%. The business had revenue of $609.07 million during the quarter, compared to the consensus estimate of $599.25 million. During the same period in the previous year, the firm posted $0.65 earnings per share. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. Sell-side analysts forecast that Itron, Inc. will post 4.59 earnings per share for the current year.

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.