Insider Selling: Itron, Inc. (NASDAQ:ITRI) CEO Sells $3,931,125.00 in Stock

Itron, Inc. (NASDAQ:ITRI) CEO Thomas Deitrich sold 37,500 shares of Itron stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $104.83, for a total value of $3,931,125.00. Following the sale, the chief executive officer now owns 205,276 shares of the company’s stock, valued at approximately $21,519,083.08. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Thomas Deitrich also recently made the following trade(s):

• On Monday, August 26th, Thomas Deitrich sold 887 shares of Itron stock. The shares were sold at an average price of $102.15, for a total value of $90,607.05.

Itron Stock Performance

NASDAQ:ITRI opened at $104.93 on Friday. The firm has a market cap of $4.81 billion, a PE ratio of 30.15, a price-to-earnings-growth ratio of 0.90 and a beta of 1.47. Itron, Inc. has a fifty-two week low of $56.11 and a fifty-two week high of $113.07. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.61 and a current ratio of 3.16. The business has a 50 day moving average price of $101.16 and a 200-day moving average price of $100.50.

Itron (NASDAQ:ITRI) last released its quarterly earnings data 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. The firm had revenue of $609.07 million during the quarter, compared to analyst estimates of $599.25 million. Itron had a return on equity of 16.42% and a net margin of 7.98%. The business’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.65 earnings per share. Equities research analysts predict that Itron, Inc. will post 4.59 earnings per share for the current year.

Institutional Trading of Itron

Institutional investors have recently made changes to their positions in the stock. Hexagon Capital Partners LLC boosted its stake in shares of Itron by 85.6% during the second 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 period. Contravisory Investment Management Inc. lifted its stake 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 worth $32,000 after acquiring an additional 131 shares during the period. Quarry LP lifted its stake in Itron by 53.0% in the second quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company’s stock worth $35,000 after acquiring an additional 122 shares during the period. GAMMA Investing LLC lifted its stake in Itron by 32.7% in the first quarter. GAMMA Investing LLC now owns 491 shares of the scientific and technical instruments company’s stock worth $45,000 after acquiring an additional 121 shares during the period. Finally, CWM LLC lifted its stake in Itron by 315.6% in the second quarter. CWM LLC now owns 881 shares of the scientific and technical instruments company’s stock worth $87,000 after acquiring an additional 669 shares during the period. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on ITRI shares. Piper Sandler lifted their price target on Itron from $109.00 to $110.00 and gave the company a “neutral” rating in a research report on Monday, July 22nd. Stephens reiterated an “equal weight” rating and set a $110.00 price target on shares of Itron in a research report on Monday, August 5th. Roth Mkm reiterated a “buy” rating and set a $125.00 price target on shares of Itron in a research report on Wednesday, August 21st. Canaccord Genuity Group boosted their target price on Itron from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Thursday, June 20th. Finally, TD Cowen boosted their target price on Itron from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat, Itron currently has a consensus rating of “Moderate Buy” and an average target price of $119.67.

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.