Itron, Inc. (NASDAQ:ITRI) Stock Holdings Lessened by PGGM Investments

PGGM Investments lowered its stake in Itron, Inc. (NASDAQ:ITRI) by 6.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 885,474 shares of the scientific and technical instruments company’s stock after selling 57,817 shares during the period. Itron makes up about 1.0% of PGGM Investments’ investment portfolio, making the stock its 26th largest holding. PGGM Investments’ holdings in Itron were worth $66,862,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Itron by 2.6% during the 3rd quarter. Vanguard Group Inc. now owns 5,668,071 shares of the scientific and technical instruments company’s stock valued at $343,372,000 after purchasing an additional 142,564 shares during the period. Vontobel Holding Ltd. increased its stake in shares of Itron by 16.0% in the fourth 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 during the last quarter. Guinness Asset Management LTD increased its stake in shares of Itron by 1.9% in the third quarter. Guinness Asset Management LTD now owns 635,881 shares of the scientific and technical instruments company’s stock worth $38,504,000 after acquiring an additional 11,983 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Itron by 0.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 503,000 shares of the scientific and technical instruments company’s stock worth $30,472,000 after acquiring an additional 3,472 shares during the last quarter. Finally, Pinnacle Associates Ltd. increased its stake in shares of Itron by 0.3% in 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 acquiring an additional 1,111 shares during the last quarter. Institutional investors own 96.19% of the company’s stock.

Insider Activity at Itron

In related news, Director Jerome J. Lande sold 14,896 shares of the stock in a transaction dated 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 transaction, the director now owns 5,750 shares of the company’s stock, valued at $547,687.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Jerome J. Lande sold 14,896 shares of the stock in a transaction dated 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 transaction, the director now owns 5,750 shares of the company’s stock, valued at $547,687.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Donald L. Reeves III sold 383 shares of the stock in a transaction dated 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 disclosure for this sale can be found here. Over the last 90 days, insiders sold 30,467 shares of company stock worth $2,752,520. Company insiders own 1.45% of the company’s stock.

Itron Stock Performance

ITRI stock traded up $1.36 during mid-day trading on Friday, reaching $95.75. 374,012 shares of the stock traded hands, compared to its average volume of 372,381. The company has a quick ratio of 1.43, a current ratio of 1.95 and a debt-to-equity ratio of 0.34. Itron, Inc. has a 52 week low of $50.97 and a 52 week high of $97.84. The business has a 50-day moving average of $89.76 and a two-hundred day moving average of $76.04. The firm has a market capitalization of $4.39 billion, a PE ratio of 45.60, a P/E/G ratio of 1.05 and a beta of 1.41.

Itron (NASDAQ:ITRI) last released its quarterly earnings results on Monday, February 26th. The scientific and technical instruments company reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.75 by $0.48. Itron had a net margin of 4.46% and a return on equity of 12.27%. The company had revenue of $577.17 million during the quarter, compared to analysts’ expectations of $569.90 million. During the same period in the prior year, the company earned $0.71 earnings per share. The business’s quarterly revenue was up 23.5% compared to the same quarter last year. As a group, equities analysts predict that Itron, Inc. will post 3.61 EPS for the current fiscal year.

Analysts Set New Price Targets

ITRI has been the topic of a number of research reports. 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 research note on Wednesday, March 13th. TD Cowen upped their price target on shares of Itron from $107.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 13th. TheStreet raised shares of Itron from a “c” rating to a “b-” rating in a research note on Monday, February 26th. Robert W. Baird upped their price target 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. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $102.00 price target on shares of Itron in a research note on Tuesday. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $97.60.

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.