Itron, Inc. (NASDAQ:ITRI) Shares Sold by Putnam Investments LLC

Putnam Investments LLC decreased its stake in Itron, Inc. (NASDAQ:ITRI – Get Rating) by 5.1% in the 3rd quarter, Holdings Channel reports. The firm owned 39,455 shares of the scientific and technical instruments company’s stock after selling 2,136 shares during the quarter. Putnam Investments LLC’s holdings in Itron were worth $1,661,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Quadrant Capital Group LLC lifted its stake in shares of Itron by 230.1% in the third quarter. Quadrant Capital Group LLC now owns 845 shares of the scientific and technical instruments company’s stock valued at $36,000 after purchasing an additional 589 shares during the period. US Bancorp DE lifted its stake in shares of Itron by 30.7% in the first quarter. US Bancorp DE now owns 1,040 shares of the scientific and technical instruments company’s stock valued at $54,000 after purchasing an additional 244 shares during the period. Eagle Bay Advisors LLC raised its position in Itron by 106.3% during the second quarter. Eagle Bay Advisors LLC now owns 1,407 shares of the scientific and technical instruments company’s stock worth $70,000 after acquiring an additional 725 shares during the last quarter. FMR LLC raised its position in Itron by 73.0% during the second quarter. FMR LLC now owns 1,543 shares of the scientific and technical instruments company’s stock worth $76,000 after acquiring an additional 651 shares during the last quarter. Finally, Captrust Financial Advisors raised 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. Institutional investors and hedge funds own 96.64% of the company’s stock.

Analyst Upgrades and Downgrades

ITRI has been the subject of a number of research reports. Robert W. Baird lifted their target price on shares of Itron from $40.00 to $52.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 28th. EF Hutton Acquisition Co. I restated a “buy” rating and set a $60.00 target price on shares of Itron in a research report on Tuesday, February 28th. Stephens restated an “equal weight” rating and set a $45.00 target price on shares of Itron in a research report on Tuesday, February 28th. TheStreet upgraded shares of Itron from a “d+” rating to a “c-” rating in a research report on Thursday, March 2nd. Finally, Cowen lifted their price target on shares of Itron from $55.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, February 2nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Itron has a consensus rating of “Hold” and an average target price of $57.22.

Itron Price Performance

Itron stock opened at $52.83 on Monday. Itron, Inc. has a 1 year low of $39.38 and a 1 year high of $60.61. The firm has a 50 day moving average price of $55.99 and a 200 day moving average price of $51.36. The company has a market cap of $2.39 billion, a price-to-earnings ratio of -240.11 and a beta of 1.34. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.21 and a current ratio of 1.66.

Itron (NASDAQ:ITRI – Get Rating) last released its earnings results on Monday, February 27th. The scientific and technical instruments company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.62. Itron had a negative net margin of 0.54% and a positive return on equity of 4.41%. The firm had revenue of $467.50 million during the quarter, compared to the consensus estimate of $433.90 million. During the same period in the previous year, the firm earned $0.75 earnings per share. Itron’s revenue was down 3.7% compared to the same quarter last year. Sell-side analysts predict that Itron, Inc. will post 0.94 earnings per share for the current year.

Insider Activity at Itron

In related news, SVP Donald L. Reeves III sold 903 shares of the business’s stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $55.52, for a total value of $50,134.56. Following the completion of the sale, the senior vice president now directly owns 10,820 shares in the company, valued at $600,726.40. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Itron news, SVP Donald L. Reeves III sold 641 shares of Itron stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $56.04, for a total transaction of $35,921.64. Following the transaction, the senior vice president now directly owns 11,970 shares of the company’s stock, valued at $670,798.80. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Donald L. Reeves III sold 903 shares of Itron stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $55.52, for a total transaction of $50,134.56. Following the transaction, the senior vice president now directly owns 10,820 shares in the company, valued at $600,726.40. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,365 shares of company stock worth $675,353. 1.37% of the stock is owned by company insiders.

About Itron

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Itron, Inc is a technology and services company, which engages in the provision of solutions that measure, manage, and analyze energy and water use. It operates through the following segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment includes hardware products used for measurement, control, or sensing that do not have communications capability embedded for use with its broader Itron systems.