Itron, Inc. (NASDAQ:ITRI) Shares Sold by Guinness Asset Management LTD

Guinness Asset Management LTD reduced its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 8.5% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 265,284 shares of the scientific and technical instruments company’s stock after selling 24,490 shares during the period. Guinness Asset Management LTD owned approximately 0.58% of Itron worth $28,336,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ITRI. Perpetual Ltd boosted its stake in shares of Itron by 10.1% in the third quarter. Perpetual Ltd now owns 88,126 shares of the scientific and technical instruments company’s stock worth $9,413,000 after buying an additional 8,102 shares during the last quarter. CWM LLC boosted its position in Itron by 150.1% in the 3rd quarter. CWM LLC now owns 2,203 shares of the scientific and technical instruments company’s stock worth $235,000 after purchasing an additional 1,322 shares in the last quarter. City Center Advisors LLC acquired a new stake in shares of Itron during the 3rd quarter worth approximately $344,000. GAMMA Investing LLC increased its holdings in shares of Itron by 41.4% during the 3rd quarter. GAMMA Investing LLC now owns 1,018 shares of the scientific and technical instruments company’s stock valued at $109,000 after purchasing an additional 298 shares in the last quarter. Finally, Handelsbanken Fonder AB lifted its stake in shares of Itron by 62.7% in the 3rd quarter. Handelsbanken Fonder AB now owns 899,789 shares of the scientific and technical instruments company’s stock valued at $96,106,000 after purchasing an additional 346,615 shares during the period. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Itron Price Performance

ITRI traded up $1.86 during trading on Friday, reaching $108.30. The company’s stock had a trading volume of 498,069 shares, compared to its average volume of 520,370. The company has a market cap of $4.87 billion, a price-to-earnings ratio of 26.74, a PEG ratio of 0.91 and a beta of 1.47. The firm has a fifty day simple moving average of $101.49 and a two-hundred day simple moving average of $101.03. Itron, Inc. has a 1 year low of $56.11 and a 1 year high of $113.07. 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 (NASDAQ:ITRI) last released its quarterly earnings data on Thursday, August 1st. The scientific and technical instruments company reported $1.21 earnings per share 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 company had revenue of $609.07 million for the quarter, compared to analyst estimates of $599.25 million. During the same quarter in the previous year, the company posted $0.65 earnings per share. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, analysts anticipate that Itron, Inc. will post 4.58 EPS for the current year.

Insider Buying and Selling

In other news, CEO Thomas Deitrich sold 37,500 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $104.83, for a total value of $3,931,125.00. Following the completion of the sale, the chief executive officer now owns 205,276 shares of the company’s stock, valued at $21,519,083.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, CEO Thomas Deitrich sold 37,500 shares of the stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 205,276 shares in the company, valued at approximately $21,519,083.08. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Donald L. Reeves III sold 4,210 shares of the stock in a transaction dated 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 43,276 shares of company stock worth $4,515,846. Insiders own 1.45% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ITRI. Robert W. Baird lifted their price objective on shares of Itron from $115.00 to $123.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. Stephens reaffirmed an “equal weight” rating and issued a $110.00 price target on shares of Itron in a report on Monday, August 5th. Roth Mkm reissued a “buy” rating and issued a $125.00 price objective on shares of Itron in a report on Wednesday, August 21st. JPMorgan Chase & Co. boosted their price objective on Itron from $104.00 to $112.00 and gave the company a “neutral” rating in a research report on Tuesday, July 16th. Finally, Janney Montgomery Scott started coverage on Itron in a research report on Friday, September 27th. They set a “buy” rating and a $131.00 target price on the stock. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Itron presently has an average rating of “Moderate Buy” and a consensus target price of $119.67.

About Itron

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.