Itron, Inc. (NASDAQ:ITRI) CAO Sells $29,449.30 in Stock

Itron, Inc. (NASDAQ:ITRI) CAO David Marshall Wright sold 317 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $92.90, for a total transaction of $29,449.30. Following the completion of the sale, the chief accounting officer now directly owns 8,108 shares of the company’s stock, valued at $753,233.20. This represents a 3.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Itron Stock Performance

Shares of NASDAQ ITRI opened at $101.81 on Wednesday. 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 is $104.99 and its two-hundred day moving average is $106.84. The company has a market cap of $4.59 billion, a P/E ratio of 20.86, a P/E/G ratio of 0.81 and a beta of 1.46. Itron, Inc. has a 12 month low of $83.60 and a 12 month high of $124.90.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on ITRI shares. Guggenheim upped their price objective on shares of Itron from $128.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, November 6th. Roth Mkm upped their price target on Itron from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Piper Sandler raised their price objective on Itron from $110.00 to $119.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. TD Cowen raised their price objective on Itron from $125.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Finally, Robert W. Baird raised their price objective on Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $123.92.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC increased its position in Itron by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,074,940 shares of the scientific and technical instruments company’s stock worth $114,835,000 after buying an additional 5,630 shares during the period. First Trust Advisors LP increased its position in shares of Itron by 9.1% during the fourth quarter. First Trust Advisors LP now owns 802,584 shares of the scientific and technical instruments company’s stock valued at $87,145,000 after purchasing an additional 66,637 shares during the period. Norges Bank bought a new stake in shares of Itron during the fourth quarter valued at approximately $64,615,000. Northern Trust Corp increased its position in shares of Itron by 11.4% during the fourth quarter. Northern Trust Corp now owns 572,266 shares of the scientific and technical instruments company’s stock valued at $62,137,000 after purchasing an additional 58,546 shares during the period. Finally, Nuveen Asset Management LLC increased its position in shares of Itron by 21.5% during the fourth quarter. Nuveen Asset Management LLC now owns 560,478 shares of the scientific and technical instruments company’s stock valued at $60,857,000 after purchasing an additional 99,142 shares during the period. 96.19% of the stock is owned by institutional investors.

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.