Schroder Investment Management Group Sells 447,693 Shares of Itron, Inc. (NASDAQ:ITRI)

Schroder Investment Management Group lessened its position in shares of Itron, Inc. (NASDAQ:ITRIFree Report) by 60.6% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 291,645 shares of the scientific and technical instruments company’s stock after selling 447,693 shares during the quarter. Schroder Investment Management Group’s holdings in Itron were worth $22,022,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ITRI. Vanguard Group Inc. increased its position in shares of Itron by 2.6% during the third quarter. Vanguard Group Inc. now owns 5,668,071 shares of the scientific and technical instruments company’s stock worth $343,372,000 after buying an additional 142,564 shares during the period. Dimensional Fund Advisors LP grew its holdings in Itron by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,681,573 shares of the scientific and technical instruments company’s stock worth $126,978,000 after acquiring an additional 51,874 shares during the period. Vontobel Holding Ltd. raised its position in shares of Itron by 16.0% in the 4th quarter. Vontobel Holding Ltd. now owns 804,648 shares of the scientific and technical instruments company’s stock worth $60,759,000 after acquiring an additional 110,849 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of Itron by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 518,157 shares of the scientific and technical instruments company’s stock valued at $39,126,000 after purchasing an additional 15,157 shares during the period. Finally, Pinnacle Associates Ltd. grew its stake in Itron by 0.3% during the fourth quarter. Pinnacle Associates Ltd. now owns 398,372 shares of the scientific and technical instruments company’s stock worth $30,081,000 after purchasing an additional 1,111 shares during the period. Institutional investors and hedge funds own 96.19% of the company’s stock.

Itron Price Performance

Shares of NASDAQ:ITRI opened at $108.60 on Tuesday. The company has a current ratio of 1.90, a quick ratio of 1.40 and a debt-to-equity ratio of 0.33. The stock has a market cap of $4.98 billion, a PE ratio of 31.21, a price-to-earnings-growth ratio of 1.03 and a beta of 1.47. The stock’s fifty day simple moving average is $100.70 and its two-hundred day simple moving average is $86.06. Itron, Inc. has a 1-year low of $56.11 and a 1-year high of $111.00.

Itron (NASDAQ:ITRIGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.39. Itron had a net margin of 7.03% and a return on equity of 14.51%. The company had revenue of $603.44 million for the quarter, compared to analyst estimates of $579.49 million. During the same period last year, the firm earned $0.49 earnings per share. The firm’s revenue was up 22.0% on a year-over-year basis. As a group, analysts forecast that Itron, Inc. will post 4 EPS for the current fiscal year.

Insider Transactions at Itron

In related news, SVP Christopher E. Ware sold 311 shares of Itron stock in a transaction on Monday, May 13th. The stock was sold at an average price of $106.84, for a total transaction of $33,227.24. Following the sale, the senior vice president now directly owns 15,371 shares in the company, valued at $1,642,237.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Thomas Deitrich sold 873 shares of the stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $108.87, for a total transaction of $95,043.51. Following the completion of the transaction, the chief executive officer now directly owns 206,163 shares of the company’s stock, valued at approximately $22,444,965.81. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Christopher E. Ware sold 311 shares of Itron stock in a transaction that occurred on Monday, May 13th. The stock was sold at an average price of $106.84, for a total transaction of $33,227.24. Following the completion of the sale, the senior vice president now directly owns 15,371 shares in the company, valued at approximately $1,642,237.64. The disclosure for this sale can be found here. Insiders have sold 1,775 shares of company stock worth $192,613 in the last 90 days. Insiders own 1.45% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on ITRI. Canaccord Genuity Group raised Itron from a “hold” rating to a “buy” rating and boosted their price target for the company from $68.00 to $105.00 in a research note on Tuesday, February 27th. Robert W. Baird increased their target price on shares of Itron from $108.00 to $115.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 13th. JPMorgan Chase & Co. increased their price objective on shares of Itron from $77.00 to $92.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 13th. Canaccord Genuity Group raised their target price on Itron from $105.00 to $115.00 and gave the company a “buy” rating in a research note on Friday, May 3rd. Finally, Roth Mkm upped their price target on Itron from $102.00 to $112.00 and gave the stock a “buy” rating in a research note on Friday, May 3rd. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $104.18.

Check Out Our Latest Analysis on Itron

Itron Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Itron (NASDAQ:ITRI)

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