Citigroup Inc. Has $7.12 Million Stake in Itron, Inc. (NASDAQ:ITRI)

Citigroup Inc. lowered its holdings in Itron, Inc. (NASDAQ:ITRI) by 97.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 66,674 shares of the scientific and technical instruments company’s stock after selling 2,397,452 shares during the quarter. Citigroup Inc. owned about 0.15% of Itron worth $7,121,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its position in Itron by 6.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 30,298 shares of the scientific and technical instruments company’s stock valued at $2,804,000 after buying an additional 1,765 shares during the last quarter. Tidal Investments LLC bought a new position in shares of Itron during the first quarter valued at about $1,319,000. Swedbank AB purchased a new position in Itron during the first quarter worth about $1,900,000. GAMMA Investing LLC increased its stake in Itron by 46.6% in the 2nd quarter. GAMMA Investing LLC now owns 720 shares of the scientific and technical instruments company’s stock valued at $71,000 after buying an additional 229 shares during the last quarter. Finally, CWM LLC lifted its position in shares of Itron by 315.6% during the 2nd quarter. CWM LLC now owns 881 shares of the scientific and technical instruments company’s stock worth $87,000 after buying an additional 669 shares in the last quarter. Institutional investors own 96.19% of the company’s stock.

Insider Transactions at Itron

In related news, CEO Thomas Deitrich sold 37,500 shares of the firm’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total transaction of $3,931,125.00. Following the transaction, the chief executive officer now directly owns 205,276 shares of the company’s stock, valued at approximately $21,519,083.08. This trade represents a 15.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 1.45% of the stock is currently owned by insiders.

Itron Stock Performance

NASDAQ:ITRI opened at $118.53 on Friday. The stock has a market cap of $5.34 billion, a P/E ratio of 24.29, a PEG ratio of 0.90 and a beta of 1.46. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. The business’s 50-day moving average price is $110.92 and its two-hundred day moving average price is $105.40. Itron, Inc. has a twelve month low of $65.81 and a twelve month high of $124.90.

Itron (NASDAQ:ITRI) last announced its earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share for the quarter, beating analysts’ consensus estimates of $1.13 by $0.71. Itron had a net margin of 9.37% and a return on equity of 19.03%. The business had revenue of $615.46 million for the quarter, compared to the consensus estimate of $596.41 million. During the same period last year, the firm posted $0.98 earnings per share. Itron’s quarterly revenue was up 9.8% on a year-over-year basis. As a group, equities analysts predict that Itron, Inc. will post 5.33 EPS for the current fiscal year.

Wall Street Analyst Weigh In

ITRI has been the subject of a number of research reports. Guggenheim increased their target price on shares of Itron from $128.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Oppenheimer raised their price objective on shares of Itron from $120.00 to $124.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. TD Cowen boosted their target price on shares of Itron from $125.00 to $136.00 and gave the company a “buy” rating in a report on Friday, November 1st. Piper Sandler raised their price target on Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Robert W. Baird lifted their price target on Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $123.92.

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.