Insider Selling: Itron, Inc. (NASDAQ:ITRI) CEO Sells $90,607.05 in Stock

Itron, Inc. (NASDAQ:ITRI) CEO Thomas Deitrich sold 887 shares of Itron stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $102.15, for a total transaction of $90,607.05. Following the sale, the chief executive officer now directly owns 205,276 shares of the company’s stock, valued at approximately $20,968,943.40. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Itron Stock Performance

Shares of Itron stock opened at $102.22 on Friday. The company has a 50 day moving average of $100.45 and a 200-day moving average of $97.51. The company has a market cap of $4.69 billion, a PE ratio of 29.37, a price-to-earnings-growth ratio of 0.91 and a beta of 1.45. The company has a current ratio of 3.16, a quick ratio of 1.40 and a debt-to-equity ratio of 0.98. Itron, Inc. has a 1-year low of $56.11 and a 1-year 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 for the quarter, beating 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 firm had revenue of $609.07 million for the quarter, compared to the consensus estimate of $599.25 million. During the same quarter last year, the business posted $0.65 EPS. The company’s revenue was up 12.6% compared to the same quarter last year. As a group, equities research analysts forecast that Itron, Inc. will post 4.55 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ITRI shares. Piper Sandler boosted their price objective on Itron from $109.00 to $110.00 and gave the stock a “neutral” rating in a report on Monday, July 22nd. Robert W. Baird lifted their price target on Itron from $115.00 to $123.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Oppenheimer upped their price objective on Itron from $110.00 to $112.00 and gave the company an “outperform” rating in a report on Wednesday, July 17th. StockNews.com lowered shares of Itron from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 28th. Finally, Guggenheim raised shares of Itron from a “neutral” rating to a “buy” rating and set a $130.00 price objective for the company in a report on Thursday, July 11th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $117.20.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC acquired a new stake in shares of Itron in the 4th quarter valued at approximately $27,000. Hexagon Capital Partners LLC lifted its stake in Itron by 85.6% in the 2nd quarter. Hexagon Capital Partners LLC now owns 271 shares of the scientific and technical instruments company’s stock valued at $27,000 after purchasing an additional 125 shares during the last quarter. Contravisory Investment Management Inc. boosted its position in Itron by 61.5% in the first quarter. Contravisory Investment Management Inc. now owns 344 shares of the scientific and technical instruments company’s stock valued at $32,000 after buying an additional 131 shares in the last quarter. Quarry LP boosted its position in Itron by 53.0% in the second quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company’s stock valued at $35,000 after buying an additional 122 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. bought a new stake in shares of Itron during the fourth quarter worth $76,000. 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.