Itron, Inc. (NASDAQ:ITRI) CAO David Marshall Wright Sells 317 Shares

Itron, Inc. (NASDAQ:ITRI) CAO David Marshall Wright sold 317 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $29,449.30. Following the completion of the sale, the chief accounting officer now owns 8,108 shares of the company’s stock, valued at $753,233.20. This trade represents a 3.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Itron Price Performance

ITRI opened at $101.81 on Wednesday. The stock has a fifty day moving average of $104.99 and a 200-day moving average of $106.84. The firm has a market capitalization of $4.59 billion, a P/E ratio of 20.86, a PEG ratio of 0.81 and a beta of 1.46. Itron, Inc. has a 12-month low of $83.60 and a 12-month 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.

Institutional Trading of Itron

A number of hedge funds have recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Itron in the fourth quarter worth approximately $64,615,000. Erste Asset Management GmbH purchased a new stake in Itron in the 3rd quarter worth approximately $38,534,000. Bowen Hanes & Co. Inc. purchased a new position in shares of Itron during the 4th quarter valued at $27,486,000. Raiffeisen Bank International AG acquired a new position in shares of Itron in the fourth quarter worth $27,619,000. Finally, Franklin Resources Inc. increased its stake in shares of Itron by 611.9% in the third quarter. Franklin Resources Inc. now owns 282,828 shares of the scientific and technical instruments company’s stock worth $31,128,000 after acquiring an additional 243,102 shares during the last quarter. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Guggenheim upped their target price on Itron from $128.00 to $135.00 and gave the stock a “buy” rating in a research report on Wednesday, November 6th. Piper Sandler upped their target price on Itron from $110.00 to $119.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Robert W. Baird upped their target price on Itron from $123.00 to $132.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Roth Mkm upped their target price on Itron from $125.00 to $130.00 and gave the stock a “buy” rating in a research report on Friday, November 1st. Finally, Oppenheimer increased their price objective on Itron from $120.00 to $124.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Three investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average 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.