Zurcher Kantonalbank Zurich Cantonalbank Has $9.84 Million Stock Holdings in Itron, Inc. (NASDAQ:ITRI)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Itron, Inc. (NASDAQ:ITRI) by 13.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 130,248 shares of the scientific and technical instruments company’s stock after buying an additional 15,392 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.29% of Itron worth $9,835,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Federated Hermes Inc. boosted its stake in Itron by 233.6% in the 1st quarter. Federated Hermes Inc. now owns 622,483 shares of the scientific and technical instruments company’s stock valued at $32,793,000 after purchasing an additional 435,870 shares during the period. Norges Bank acquired a new position in shares of Itron in the fourth quarter valued at about $20,846,000. Amundi increased its position in Itron by 18.3% during the fourth quarter. Amundi now owns 2,600,319 shares of the scientific and technical instruments company’s stock worth $133,785,000 after acquiring an additional 401,394 shares during the period. Employees Retirement System of Texas bought a new stake in Itron in the 4th quarter valued at about $14,519,000. Finally, Clearbridge Investments LLC acquired a new position in shares of Itron during the 1st quarter worth approximately $13,588,000. 96.19% of the stock is owned by institutional investors.

Insider Buying and Selling at Itron

In other news, Director Jerome J. Lande sold 14,896 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $95.25, for a total value of $1,418,844.00. Following the completion of the sale, the director now owns 5,750 shares in the company, valued at approximately $547,687.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Jerome J. Lande sold 14,896 shares of the company’s stock in a transaction on Thursday, March 7th. The shares were sold at an average price of $95.25, for a total value of $1,418,844.00. Following the completion of the sale, the director now owns 5,750 shares in the company, valued at approximately $547,687.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Donald L. Reeves III sold 502 shares of the company’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $91.02, for a total transaction of $45,692.04. Following the completion of the sale, the senior vice president now owns 16,427 shares of the company’s stock, valued at approximately $1,495,185.54. The disclosure for this sale can be found here. In the last quarter, insiders sold 30,467 shares of company stock worth $2,752,520. Insiders own 1.45% of the company’s stock.

Itron Stock Performance

Shares of ITRI stock opened at $89.68 on Friday. The stock has a market capitalization of $4.11 billion, a PE ratio of 42.70, a PEG ratio of 1.00 and a beta of 1.41. The business’s 50 day simple moving average is $87.90 and its 200 day simple moving average is $74.80. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.95 and a quick ratio of 1.43. Itron, Inc. has a one year low of $50.60 and a one year high of $96.73.

Itron (NASDAQ:ITRI) last announced its earnings results 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. The business had revenue of $577.17 million during the quarter, compared to the consensus estimate of $569.90 million. Itron had a net margin of 4.46% and a return on equity of 12.27%. Itron’s quarterly revenue was up 23.5% on a year-over-year basis. During the same quarter last year, the firm earned $0.71 earnings per share. As a group, research analysts forecast that Itron, Inc. will post 3.61 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on ITRI shares. Piper Sandler dropped their price target on shares of Itron from $105.00 to $103.00 and set an “overweight” rating for the company in a research report on Thursday, April 11th. JPMorgan Chase & Co. upped their price target on shares of Itron from $77.00 to $92.00 and gave the stock a “neutral” rating in a report on Wednesday, March 13th. Raymond James cut Itron from an “outperform” rating to a “market perform” rating in a report on Thursday, January 4th. Canaccord Genuity Group raised Itron from a “hold” rating to a “buy” rating and raised their price objective for the company from $68.00 to $105.00 in a research note on Tuesday, February 27th. Finally, Robert W. Baird boosted their target price on Itron from $108.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 13th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Itron has an average rating of “Moderate Buy” and an average target price of $95.60.

Itron 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.