Itron, Inc. (NASDAQ:ITRI) Shares Sold by Profund Advisors LLC

Profund Advisors LLC lessened its holdings in Itron, Inc. (NASDAQ:ITRI) by 8.8% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 2,315 shares of the scientific and technical instruments company’s stock after selling 222 shares during the period. Profund Advisors LLC’s holdings in Itron were worth $229,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. Los Angeles Capital Management LLC acquired a new stake in shares of Itron in the first quarter worth $2,002,000. Commonwealth Equity Services LLC acquired a new position in shares of Itron in the 1st quarter valued at about $1,076,000. Jupiter Asset Management Ltd. acquired a new position in shares of Itron in the 1st quarter valued at about $2,029,000. Oppenheimer & Co. Inc. boosted its stake in shares of Itron by 91.1% in the fourth quarter. Oppenheimer & Co. Inc. now owns 30,568 shares of the scientific and technical instruments company’s stock worth $2,308,000 after buying an additional 14,573 shares during the last quarter. Finally, UniSuper Management Pty Ltd acquired a new stake in Itron during the first quarter worth about $904,000. 96.19% of the stock is owned by hedge funds and other institutional investors.

Itron Stock Performance

NASDAQ:ITRI opened at $107.28 on Friday. Itron, Inc. has a fifty-two week low of $56.11 and a fifty-two week high of $113.07. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.61 and a current ratio of 3.16. The company has a 50 day moving average price of $101.00 and a 200 day moving average price of $99.83. The stock has a market capitalization of $4.92 billion, a P/E ratio of 30.83, a PEG ratio of 0.90 and a beta of 1.47.

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

Insider Buying and Selling at Itron

In other news, CEO Thomas Deitrich sold 887 shares of the company’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 $90,607.05. Following the completion of the transaction, the chief executive officer now directly owns 205,276 shares of the company’s stock, valued at approximately $20,968,943.40. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Itron 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 directly owns 205,276 shares in the company, valued at $20,968,943.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Donald L. Reeves III sold 4,210 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total transaction of $425,210.00. Following the sale, the senior vice president now directly owns 16,269 shares in the company, valued at approximately $1,643,169. The disclosure for this sale can be found here. Insiders have sold a total of 5,776 shares of company stock worth $584,721 over the last ninety days. Corporate insiders own 1.45% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on ITRI. Oppenheimer boosted their price target on Itron from $110.00 to $112.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. Janney Montgomery Scott assumed coverage on Itron in a research note on Friday. They set a “buy” rating and a $131.00 target price for the company. 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 research note on Friday, August 2nd. JPMorgan Chase & Co. raised their price objective on Itron from $104.00 to $112.00 and gave the company a “neutral” rating in a report on Tuesday, July 16th. Finally, Piper Sandler increased their target price on shares of Itron from $109.00 to $110.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $119.67.

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.