PFG Investments LLC Sells 100 Shares of Itron, Inc. (NASDAQ:ITRI)

PFG Investments LLC lowered its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 4.8% during the first quarter, Holdings Channel.com reports. The firm owned 1,965 shares of the scientific and technical instruments company’s stock after selling 100 shares during the quarter. PFG Investments LLC’s holdings in Itron were worth $206,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank bought a new stake in shares of Itron in the 4th quarter valued at about $64,615,000. Bowen Hanes & Co. Inc. purchased a new stake in Itron during the fourth quarter valued at approximately $27,486,000. Raiffeisen Bank International AG purchased a new stake in Itron during the fourth quarter valued at approximately $27,619,000. Wellington Management Group LLP lifted its position in Itron by 180.7% during the fourth quarter. Wellington Management Group LLP now owns 333,363 shares of the scientific and technical instruments company’s stock valued at $36,197,000 after acquiring an additional 214,600 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in Itron by 85.7% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 425,484 shares of the scientific and technical instruments company’s stock valued at $46,199,000 after acquiring an additional 196,396 shares during the last quarter. Institutional investors own 96.19% of the company’s stock.

Insider Buying and Selling at Itron

In other news, SVP Christopher E. Ware sold 339 shares of Itron stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $114.95, for a total transaction of $38,968.05. Following the completion of the transaction, the senior vice president now directly owns 19,468 shares of the company’s stock, valued at $2,237,846.60. The trade was a 1.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Justin K. Patrick sold 9,036 shares of Itron stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $121.77, for a total transaction of $1,100,313.72. Following the transaction, the senior vice president now directly owns 21,149 shares of the company’s stock, valued at approximately $2,575,313.73. This trade represents a 29.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 20,905 shares of company stock worth $2,439,202. Insiders own 1.45% of the company’s stock.

Itron Stock Performance

ITRI opened at $131.25 on Thursday. Itron, Inc. has a 12-month low of $90.11 and a 12-month high of $132.48. The company has a current ratio of 1.93, a quick ratio of 1.65 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $5.98 billion, a PE ratio of 23.95, a P/E/G ratio of 0.83 and a beta of 1.33. The firm has a 50 day moving average of $115.22 and a two-hundred day moving average of $108.52.

Itron (NASDAQ:ITRI) last issued its earnings results on Thursday, May 1st. The scientific and technical instruments company reported $1.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.30 by $0.22. Itron had a net margin of 10.34% and a return on equity of 19.65%. The firm had revenue of $607.15 million during the quarter, compared to analysts’ expectations of $608.86 million. During the same quarter last year, the company posted $1.24 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. On average, analysts anticipate that Itron, Inc. will post 5.33 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently commented on ITRI. Wall Street Zen cut shares of Itron from a “buy” rating to a “hold” rating in a research report on Sunday, June 1st. Oppenheimer increased their price objective on Itron from $124.00 to $131.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. TD Cowen increased their price target on Itron from $139.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, June 20th. Piper Sandler decreased their price target on Itron from $124.00 to $121.00 and set a “neutral” rating for the company in a research note on Monday, May 5th. Finally, Guggenheim reaffirmed a “buy” rating and issued a $133.00 price objective on shares of Itron in a research report on Thursday, April 17th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, Itron presently has a consensus rating of “Moderate Buy” and a consensus price target of $128.18.

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.