Itron, Inc. (NASDAQ:ITRI) Shares Sold by Navellier & Associates Inc.

Navellier & Associates Inc. lowered its stake in Itron, Inc. (NASDAQ:ITRI) by 21.5% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 7,783 shares of the scientific and technical instruments company’s stock after selling 2,136 shares during the quarter. Navellier & Associates Inc.’s holdings in Itron were worth $831,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of ITRI. Sculptor Capital LP acquired a new stake in Itron in the second quarter valued at approximately $5,255,000. UniSuper Management Pty Ltd acquired a new stake in Itron during the 1st quarter valued at $904,000. Assenagon Asset Management S.A. increased its stake in Itron by 7.8% during the 2nd quarter. Assenagon Asset Management S.A. now owns 268,379 shares of the scientific and technical instruments company’s stock worth $26,559,000 after buying an additional 19,387 shares during the period. Tidal Investments LLC acquired a new position in Itron in the 1st quarter worth $1,319,000. Finally, Vanguard Group Inc. boosted its position in Itron by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 5,701,337 shares of the scientific and technical instruments company’s stock valued at $527,488,000 after buying an additional 45,909 shares during the last quarter. 96.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Itron

In other Itron news, CEO Thomas Deitrich sold 37,500 shares of the company’s stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $104.83, for a total transaction of $3,931,125.00. Following the completion of the sale, the chief executive officer now directly owns 205,276 shares of the company’s stock, valued at approximately $21,519,083.08. This represents a 15.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Joan S. Hooper sold 509 shares of Itron stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $102.15, for a total transaction of $51,994.35. Following the completion of the transaction, the chief financial officer now directly owns 72,338 shares in the company, valued at approximately $7,389,326.70. This trade represents a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 39,066 shares of company stock valued at $4,092,737. Corporate insiders own 1.45% of the company’s stock.

Itron Trading Up 1.9 %

Shares of ITRI stock opened at $116.25 on Friday. The stock has a 50-day simple moving average of $108.87 and a 200 day simple moving average of $104.86. The stock has a market capitalization of $5.24 billion, a P/E ratio of 23.82, a P/E/G ratio of 0.86 and a beta of 1.46. Itron, Inc. has a fifty-two week low of $65.20 and a fifty-two week high of $124.90. 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 (NASDAQ:ITRI) last released its earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.71. The business had revenue of $615.46 million for the quarter, compared to the consensus estimate of $596.41 million. Itron had a net margin of 9.37% and a return on equity of 19.03%. The business’s revenue for the quarter was up 9.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.98 EPS. On average, sell-side analysts expect that Itron, Inc. will post 5.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on ITRI shares. Guggenheim increased their price target on Itron from $128.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, November 6th. Roth Mkm lifted their price target on shares of Itron from $125.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, November 1st. Robert W. Baird increased their price objective on shares of Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Oppenheimer boosted their target price on shares of Itron from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, TD Cowen upped their target price on shares of Itron from $125.00 to $136.00 and gave the company a “buy” rating in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.