Navellier & Associates Inc. Sells 2,136 Shares of Itron, Inc. (NASDAQ:ITRI)

Navellier & Associates Inc. lowered its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 21.5% in the third quarter, Holdings Channel reports. The firm owned 7,783 shares of the scientific and technical instruments company’s stock after selling 2,136 shares during the period. Navellier & Associates Inc.’s holdings in Itron were worth $831,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. State Board of Administration of Florida Retirement System boosted its holdings in shares of Itron by 2.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 13,296 shares of the scientific and technical instruments company’s stock worth $1,230,000 after buying an additional 290 shares during the period. Vanguard Group Inc. boosted its holdings in Itron by 0.8% during the first 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 acquiring an additional 45,909 shares during the period. Edgestream Partners L.P. acquired a new stake in shares of Itron in the first quarter valued at about $336,000. O Shaughnessy Asset Management LLC acquired a new stake in shares of Itron in the first quarter valued at about $230,000. Finally, UniSuper Management Pty Ltd bought a new position in shares of Itron in the first quarter worth about $904,000. Institutional investors and hedge funds own 96.19% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on ITRI. Stephens reiterated an “equal weight” rating and set a $110.00 price target on shares of Itron in a report on Monday, August 5th. Oppenheimer increased their price target on shares of Itron from $120.00 to $124.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Robert W. Baird upped their price objective on shares of Itron from $123.00 to $132.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. TD Cowen increased 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. Finally, BNP Paribas began coverage on Itron in a report on Thursday, September 5th. They issued an “outperform” rating and a $133.00 price target for the company. 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 an average price target of $123.92.

Insiders Place Their Bets

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

Itron Stock Up 1.9 %

Shares of NASDAQ ITRI opened at $116.25 on Friday. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91. The firm has a market capitalization of $5.24 billion, a PE ratio of 23.82, a price-to-earnings-growth ratio of 0.86 and a beta of 1.46. The firm’s 50-day moving average is $108.87 and its 200-day moving average is $104.86. Itron, Inc. has a 1 year low of $65.20 and a 1 year high of $124.90.

Itron (NASDAQ:ITRI) last released its quarterly earnings data on Thursday, October 31st. The scientific and technical instruments company reported $1.84 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.71. The business had revenue of $615.46 million during the quarter, compared to the consensus estimate of $596.41 million. Itron had a return on equity of 19.03% and a net margin of 9.37%. The firm’s revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.98 earnings per share. Equities analysts expect that Itron, Inc. will post 5.33 EPS for the current year.

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.