Principal Financial Group Inc. Reduces Stock Position in Itron, Inc. (NASDAQ:ITRI)

Principal Financial Group Inc. trimmed its holdings in shares of Itron, Inc. (NASDAQ:ITRIGet Rating) by 9.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 278,289 shares of the scientific and technical instruments company’s stock after selling 27,745 shares during the period. Principal Financial Group Inc.’s holdings in Itron were worth $13,756,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ITRI. EverSource Wealth Advisors LLC increased its stake in shares of Itron by 105.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 698 shares of the scientific and technical instruments company’s stock worth $34,000 after purchasing an additional 358 shares in the last quarter. Wolverine Asset Management LLC purchased a new position in shares of Itron during the 1st quarter worth approximately $36,000. Nisa Investment Advisors LLC increased its stake in shares of Itron by 122.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,090 shares of the scientific and technical instruments company’s stock worth $54,000 after purchasing an additional 600 shares in the last quarter. US Bancorp DE boosted its position in Itron by 30.7% during the first quarter. US Bancorp DE now owns 1,040 shares of the scientific and technical instruments company’s stock worth $54,000 after acquiring an additional 244 shares during the last quarter. Finally, Captrust Financial Advisors boosted its position in Itron by 314.3% during the first quarter. Captrust Financial Advisors now owns 1,707 shares of the scientific and technical instruments company’s stock worth $90,000 after acquiring an additional 1,295 shares during the last quarter. 97.36% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Itron

In related news, CEO Thomas Deitrich sold 2,605 shares of Itron stock in a transaction on Tuesday, September 20th. The shares were sold at an average price of $47.66, for a total transaction of $124,154.30. Following the transaction, the chief executive officer now owns 146,997 shares in the company, valued at approximately $7,005,877.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.37% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ITRI. Cowen decreased their target price on shares of Itron to $68.00 in a research report on Tuesday, August 9th. EF Hutton Acquisition Co. I decreased their target price on shares of Itron from $72.00 to $60.00 and set a “buy” rating on the stock in a research report on Friday, November 4th. Raymond James decreased their price target on shares of Itron from $68.00 to $57.00 and set a “strong-buy” rating on the stock in a report on Friday, November 4th. Stephens lowered shares of Itron from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $65.00 to $55.00 in a report on Friday, August 5th. Finally, StockNews.com began coverage on shares of Itron in a report on Wednesday, October 12th. They issued a “hold” rating on the stock. Seven investment analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $55.13.

Itron Stock Performance

NASDAQ:ITRI opened at $52.75 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.20 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $2.38 billion, a price-to-earnings ratio of -26.24 and a beta of 1.30. The firm’s fifty day simple moving average is $47.29 and its 200 day simple moving average is $49.13. Itron, Inc. has a twelve month low of $39.38 and a twelve month high of $70.67.

Itron Profile

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Itron, Inc, a technology and service company, provides end-to-end solutions that help manage operations in the energy, water, and smart city space worldwide. The company operates through three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing.

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Institutional Ownership by Quarter for Itron (NASDAQ:ITRI)

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