M&T Bank Corp Sells 185 Shares of Itron, Inc. (NASDAQ:ITRI)

M&T Bank Corp trimmed its position in shares of Itron, Inc. (NASDAQ:ITRI) by 8.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 1,947 shares of the scientific and technical instruments company’s stock after selling 185 shares during the quarter. M&T Bank Corp’s holdings in Itron were worth $204,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. GeoWealth Management LLC increased its holdings in Itron by 4,580.0% during the 4th quarter. GeoWealth Management LLC now owns 234 shares of the scientific and technical instruments company’s stock valued at $25,000 after purchasing an additional 229 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Itron in the 4th quarter worth approximately $30,000. Wayfinding Financial LLC purchased a new position in shares of Itron during the first quarter valued at approximately $45,000. CoreCap Advisors LLC increased its stake in shares of Itron by 25.5% during the fourth quarter. CoreCap Advisors LLC now owns 616 shares of the scientific and technical instruments company’s stock valued at $67,000 after buying an additional 125 shares during the period. Finally, Contravisory Investment Management Inc. raised its holdings in shares of Itron by 98.0% during the first quarter. Contravisory Investment Management Inc. now owns 1,711 shares of the scientific and technical instruments company’s stock valued at $179,000 after acquiring an additional 847 shares in the last quarter. 96.19% of the stock is currently owned by hedge funds and other institutional investors.

Itron Trading Down 0.2%

NASDAQ:ITRI opened at $136.39 on Friday. Itron, Inc. has a one year low of $90.11 and a one year high of $137.68. The company’s 50-day simple moving average is $124.54 and its 200 day simple moving average is $111.31. The firm has a market capitalization of $6.22 billion, a P/E ratio of 24.89, a PEG ratio of 0.86 and a beta of 1.35. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.93 and a quick ratio of 1.65.

Itron (NASDAQ:ITRI) last posted its quarterly 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. The firm had revenue of $607.15 million during the quarter, compared to analyst estimates of $608.86 million. Itron had a return on equity of 19.65% and a net margin of 10.34%. Itron’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.24 EPS. As a group, analysts forecast that Itron, Inc. will post 5.33 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently weighed in on ITRI shares. Guggenheim reiterated a “buy” rating and issued a $155.00 price target (up previously from $133.00) on shares of Itron in a report on Monday, July 14th. TD Cowen raised their target price on shares of Itron from $139.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, June 20th. Piper Sandler reduced their price target on shares of Itron from $124.00 to $121.00 and set a “neutral” rating on the stock in a research report on Monday, May 5th. Finally, Wall Street Zen downgraded shares of Itron from a “buy” rating to a “hold” rating in a research note on Sunday, June 1st. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $132.00.

Insider Buying and Selling at Itron

In other Itron news, SVP John F. Marcolini sold 3,783 shares of the business’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $116.73, for a total transaction of $441,589.59. Following the completion of the sale, the senior vice president directly owned 21,865 shares in the company, valued at approximately $2,552,301.45. The trade was a 14.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joan S. Hooper sold 938 shares of the company’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $114.95, for a total value of $107,823.10. Following the sale, the chief financial officer owned 89,364 shares of the company’s stock, valued at approximately $10,272,391.80. This trade represents a 1.04% decrease in their position. 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 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.