PGGM Investments Cuts Stock Position in Itron, Inc. (NASDAQ:ITRI)

PGGM Investments lessened its position in Itron, Inc. (NASDAQ:ITRI) by 6.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 885,474 shares of the scientific and technical instruments company’s stock after selling 57,817 shares during the quarter. Itron makes up 1.0% of PGGM Investments’ investment portfolio, making the stock its 26th largest holding. PGGM Investments owned approximately 1.95% of Itron worth $66,862,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ITRI. GAMMA Investing LLC purchased a new stake in Itron during the 4th quarter worth about $27,000. Covestor Ltd increased its holdings in Itron by 9,150.0% during the 3rd quarter. Covestor Ltd now owns 555 shares of the scientific and technical instruments company’s stock worth $34,000 after purchasing an additional 549 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in Itron during the 4th quarter worth about $50,000. Meeder Asset Management Inc. purchased a new stake in Itron during the 4th quarter worth about $169,000. Finally, Xponance Inc. purchased a new stake in Itron during the 4th quarter worth about $208,000. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Wall Street Analyst Weigh In

ITRI has been the topic of several recent research reports. Piper Sandler cut their price target on Itron from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Thursday, April 11th. TheStreet upgraded Itron from a “c” rating to a “b-” rating in a report on Monday, February 26th. Canaccord Genuity Group upgraded Itron from a “hold” rating to a “buy” rating and increased their price objective for the company from $68.00 to $105.00 in a report on Tuesday, February 27th. TD Cowen increased their price objective on Itron from $107.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, March 13th. Finally, Roth Mkm reiterated a “buy” rating and issued a $102.00 price objective on shares of Itron in a report on Tuesday. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $97.60.

Insiders Place Their Bets

In other Itron news, Director Jerome J. Lande sold 14,896 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $95.25, for a total transaction of $1,418,844.00. Following the completion of the sale, the director now directly owns 5,750 shares of the company’s stock, valued at approximately $547,687.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Donald L. Reeves III sold 383 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $75.37, for a total transaction of $28,866.71. Following the completion of the transaction, the senior vice president now directly owns 8,708 shares of the company’s stock, valued at approximately $656,321.96. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Jerome J. Lande sold 14,896 shares of the stock in a transaction that occurred on Thursday, March 7th. The stock was sold at an average price of $95.25, for a total value of $1,418,844.00. Following the transaction, the director now directly owns 5,750 shares of the company’s stock, valued at $547,687.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 30,467 shares of company stock valued at $2,752,520. 1.45% of the stock is owned by company insiders.

Itron Stock Performance

Shares of NASDAQ ITRI traded up $1.36 during trading hours on Friday, reaching $95.75. The stock had a trading volume of 374,012 shares, compared to its average volume of 372,381. Itron, Inc. has a fifty-two week low of $50.97 and a fifty-two week high of $97.84. The firm has a 50-day moving average of $89.76 and a 200-day moving average of $76.04. The company has a current ratio of 1.95, a quick ratio of 1.43 and a debt-to-equity ratio of 0.34. The firm has a market cap of $4.39 billion, a price-to-earnings ratio of 45.60, a PEG ratio of 1.05 and a beta of 1.41.

Itron (NASDAQ:ITRI) last posted its quarterly earnings data on Monday, February 26th. The scientific and technical instruments company reported $1.23 earnings per share for the quarter, topping analysts’ consensus estimates of $0.75 by $0.48. Itron had a return on equity of 12.27% and a net margin of 4.46%. The company had revenue of $577.17 million during the quarter, compared to analysts’ expectations of $569.90 million. During the same period last year, the firm earned $0.71 EPS. The firm’s revenue for the quarter was up 23.5% on a year-over-year basis. Equities research analysts predict that Itron, Inc. will post 3.61 earnings per share 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.