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

ProShare Advisors LLC lessened its position in shares of Itron, Inc. (NASDAQ:ITRI) by 23.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 7,022 shares of the scientific and technical instruments company’s stock after selling 2,163 shares during the quarter. ProShare Advisors LLC’s holdings in Itron were worth $695,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Silvercrest Asset Management Group LLC acquired a new position in Itron during the first quarter worth about $401,000. Norges Bank acquired a new position in shares of Itron during the 4th quarter worth approximately $24,504,000. Victory Capital Management Inc. lifted its stake in Itron by 1,331.3% in the 2nd quarter. Victory Capital Management Inc. now owns 200,400 shares of the scientific and technical instruments company’s stock valued at $19,832,000 after buying an additional 186,399 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Itron by 72.5% during the 2nd quarter. Renaissance Technologies LLC now owns 309,761 shares of the scientific and technical instruments company’s stock valued at $30,654,000 after buying an additional 130,200 shares during the last quarter. Finally, Kingdon Capital Management L.L.C. purchased a new position in Itron during the first quarter worth $7,170,000. 96.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Itron

In related news, SVP Donald L. Reeves III sold 4,210 shares of the company’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total transaction of $425,210.00. Following the completion of the sale, the senior vice president now directly owns 16,269 shares of the company’s stock, valued at approximately $1,643,169. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Donald L. Reeves III sold 4,210 shares of the business’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 transaction, the senior vice president now directly owns 16,269 shares of the company’s stock, valued at approximately $1,643,169. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joan S. Hooper sold 509 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 transaction of $51,994.35. Following the completion of the sale, the chief financial officer now directly owns 72,338 shares of the company’s stock, valued at approximately $7,389,326.70. The disclosure for this sale can be found here. Insiders sold 5,776 shares of company stock valued at $584,721 over the last 90 days. Corporate insiders own 1.45% of the company’s stock.

Itron Price Performance

ITRI stock opened at $107.28 on Monday. The company has a market cap of $4.92 billion, a PE ratio of 30.83, a price-to-earnings-growth ratio of 0.90 and a beta of 1.47. The company has a current ratio of 3.16, a quick ratio of 2.61 and a debt-to-equity ratio of 0.98. The stock has a 50-day moving average price of $101.00 and a two-hundred day moving average price of $99.96. Itron, Inc. has a 12-month low of $56.11 and a 12-month high of $113.07.

Itron (NASDAQ:ITRI) last issued its earnings results on Thursday, August 1st. The scientific and technical instruments company reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.96 by $0.25. Itron had a return on equity of 16.42% and a net margin of 7.98%. The business 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 earned $0.65 EPS. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, research analysts predict that Itron, Inc. will post 4.59 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ITRI shares. StockNews.com lowered Itron from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 28th. Piper Sandler lifted their price target on shares of Itron from $109.00 to $110.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Guggenheim raised shares of Itron from a “neutral” rating to a “buy” rating and set a $130.00 price objective on the stock in a research note on Thursday, July 11th. BNP Paribas initiated coverage on shares of Itron in a research note on Thursday, September 5th. They issued an “outperform” rating and a $133.00 target price for the company. Finally, Robert W. Baird increased their price target on Itron from $115.00 to $123.00 and gave the stock an “outperform” rating in a research note on Friday, August 2nd. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $119.67.

Itron Company 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.