Wakefield Asset Management LLLP Sells 3,022 Shares of Itron, Inc. (NASDAQ:ITRI)

Wakefield Asset Management LLLP reduced its holdings in Itron, Inc. (NASDAQ:ITRI) by 24.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,091 shares of the scientific and technical instruments company’s stock after selling 3,022 shares during the quarter. Wakefield Asset Management LLLP’s holdings in Itron were worth $900,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of ITRI. Private Advisor Group LLC increased its stake in Itron by 1.9% during the 2nd quarter. Private Advisor Group LLC now owns 13,538 shares of the scientific and technical instruments company’s stock worth $1,340,000 after purchasing an additional 247 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Itron by 2.6% during the second quarter. Arizona State Retirement System now owns 12,832 shares of the scientific and technical instruments company’s stock worth $1,270,000 after acquiring an additional 330 shares during the period. Victory Capital Management Inc. boosted its stake in Itron by 1,331.3% in the 2nd quarter. Victory Capital Management Inc. now owns 200,400 shares of the scientific and technical instruments company’s stock worth $19,832,000 after purchasing an additional 186,399 shares during the period. Lisanti Capital Growth LLC increased its holdings in Itron by 34.9% during the 2nd quarter. Lisanti Capital Growth LLC now owns 43,300 shares of the scientific and technical instruments company’s stock worth $4,285,000 after purchasing an additional 11,210 shares in the last quarter. Finally, Hanseatic Management Services Inc. acquired a new stake in shares of Itron in the 2nd quarter valued at about $713,000. Institutional investors and hedge funds own 96.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ITRI. Oppenheimer increased their price objective on Itron from $110.00 to $112.00 and gave the stock an “outperform” rating in a report on Wednesday, July 17th. JPMorgan Chase & Co. raised their price target on Itron from $104.00 to $112.00 and gave the company a “neutral” rating in a research note on Tuesday, July 16th. Robert W. Baird increased their price objective on Itron from $115.00 to $123.00 and gave the company an “outperform” rating in a report on Friday, August 2nd. BNP Paribas started coverage on shares of Itron in a research note on Thursday. They set an “outperform” rating and a $133.00 price objective on the stock. Finally, StockNews.com lowered Itron from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 28th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $118.64.

Itron Stock Performance

ITRI opened at $96.74 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 3.16 and a quick ratio of 2.61. The business has a fifty day simple moving average of $100.45 and a 200 day simple moving average of $98.30. Itron, Inc. has a 1 year low of $56.11 and a 1 year high of $113.07. The company has a market capitalization of $4.44 billion, a PE ratio of 27.80, a price-to-earnings-growth ratio of 0.86 and a beta of 1.45.

Itron (NASDAQ:ITRI) last released its quarterly earnings results on Thursday, August 1st. The scientific and technical instruments company reported $1.21 EPS for the quarter, beating the consensus estimate of $0.96 by $0.25. Itron had a net margin of 7.98% and a return on equity of 16.42%. The business had revenue of $609.07 million for the quarter, compared to the consensus estimate of $599.25 million. During the same period in the prior year, the company posted $0.65 earnings per share. Itron’s revenue was up 12.6% compared to the same quarter last year. Research analysts expect that Itron, Inc. will post 4.59 EPS for the current year.

Insider Transactions at Itron

In related news, CEO Thomas Deitrich sold 887 shares of Itron stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $102.15, for a total value of $90,607.05. Following the transaction, the chief executive officer now directly owns 205,276 shares of the company’s stock, valued at $20,968,943.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Itron news, CEO Thomas Deitrich sold 887 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $102.15, for a total value of $90,607.05. Following the sale, the chief executive officer now owns 205,276 shares in the company, valued at $20,968,943.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Donald L. Reeves III sold 4,210 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total transaction of $425,210.00. Following the transaction, the senior vice president now owns 16,269 shares of the company’s stock, valued at $1,643,169. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,776 shares of company stock valued at $584,721. 1.45% of the stock is owned by corporate insiders.

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.