Insider Selling: Itron, Inc. (NASDAQ:ITRI) SVP Sells 648 Shares of Stock

Itron, Inc. (NASDAQ:ITRI) SVP Christopher E. Ware sold 648 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $92.90, for a total value of $60,199.20. Following the sale, the senior vice president now directly owns 20,326 shares in the company, valued at $1,888,285.40. This trade represents a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Itron Stock Up 5.8 %

NASDAQ ITRI opened at $107.72 on Thursday. The stock’s 50-day moving average price is $104.98 and its 200-day moving average price is $106.85. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. Itron, Inc. has a 52 week low of $86.13 and a 52 week high of $124.90. The company has a market capitalization of $4.86 billion, a P/E ratio of 22.07, a price-to-earnings-growth ratio of 0.81 and a beta of 1.46.

Wall Street Analyst Weigh In

Several research analysts have issued reports on ITRI shares. Oppenheimer raised their target price on Itron from $124.00 to $131.00 and gave the stock an “outperform” rating in a research report on Wednesday. Piper Sandler raised their target price on Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Guggenheim raised their target price on Itron from $128.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. StockNews.com raised Itron from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 21st. Finally, Robert W. Baird raised their target price on Itron from $123.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $125.50.

Institutional Trading of Itron

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC raised its stake in Itron by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,074,940 shares of the scientific and technical instruments company’s stock valued at $114,835,000 after purchasing an additional 5,630 shares during the period. First Trust Advisors LP raised its stake in Itron by 9.1% during the 4th 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 Itron during the 4th quarter valued at approximately $64,615,000. Northern Trust Corp raised its stake in Itron by 11.4% during the 4th 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 raised its stake in Itron by 21.5% during the 4th 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. Institutional investors own 96.19% of the company’s stock.

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.