Federated Hermes Inc. Decreases Position in Itron, Inc. (NASDAQ:ITRI)

Federated Hermes Inc. cut its position in Itron, Inc. (NASDAQ:ITRI) by 19.3% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 94,406 shares of the scientific and technical instruments company’s stock after selling 22,639 shares during the period. Federated Hermes Inc.’s holdings in Itron were worth $9,342,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in ITRI. Silvercrest Asset Management Group LLC bought a new stake in shares of Itron in the first quarter worth approximately $401,000. Norges Bank bought a new stake in shares of Itron in the fourth quarter worth approximately $24,504,000. Victory Capital Management Inc. grew its stake in shares of Itron by 1,331.3% in the second quarter. Victory Capital Management Inc. now owns 200,400 shares of the scientific and technical instruments company’s stock worth $19,832,000 after acquiring an additional 186,399 shares during the period. Kingdon Capital Management L.L.C. bought a new stake in shares of Itron in the first quarter worth approximately $7,170,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Itron in the first quarter worth approximately $5,718,000. 96.19% of the stock is currently owned by institutional investors.

Insider Transactions at Itron

In other news, CFO Joan S. Hooper sold 509 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $102.15, for a total value of $51,994.35. Following the transaction, the chief financial officer now owns 72,338 shares of the company’s stock, valued at $7,389,326.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, SVP Donald L. Reeves III sold 4,210 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total value of $425,210.00. Following the transaction, the senior vice president now owns 16,269 shares of the company’s stock, valued at $1,643,169. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Joan S. Hooper sold 509 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $102.15, for a total transaction of $51,994.35. Following the completion of the transaction, the chief financial officer now directly owns 72,338 shares in the company, valued at approximately $7,389,326.70. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,776 shares of company stock valued at $584,721. 1.45% of the stock is currently owned by corporate insiders.

Itron Price Performance

Shares of NASDAQ:ITRI opened at $104.30 on Wednesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.16 and a quick ratio of 2.61. Itron, Inc. has a 1-year low of $56.11 and a 1-year high of $113.07. The company has a market capitalization of $4.78 billion, a P/E ratio of 29.97, a P/E/G ratio of 0.84 and a beta of 1.47. The firm’s 50 day simple moving average is $100.68 and its two-hundred day simple moving average is $99.27.

Itron (NASDAQ:ITRI) last issued its quarterly earnings results on Thursday, August 1st. The scientific and technical instruments company reported $1.21 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $599.25 million. During the same quarter in the previous year, the firm earned $0.65 earnings per share. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. Research analysts expect that Itron, Inc. will post 4.59 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ITRI shares. StockNews.com lowered shares of Itron from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 28th. Roth Mkm restated a “buy” rating and set a $125.00 target price on shares of Itron in a research report on Wednesday, August 21st. BNP Paribas began coverage on shares of Itron in a research report on Thursday, September 5th. They set an “outperform” rating and a $133.00 target price for the company. Guggenheim upgraded shares of Itron from a “neutral” rating to a “buy” rating and set a $130.00 target price for the company in a research report on Thursday, July 11th. Finally, Robert W. Baird boosted their target price on shares of Itron from $115.00 to $123.00 and gave the company an “outperform” rating in a research report on Friday, August 2nd. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, Itron has a consensus rating of “Moderate Buy” and a consensus price target of $118.64.

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.