Itron, Inc. (NASDAQ:ITRI) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp lowered its position in shares of Itron, Inc. (NASDAQ:ITRI) by 14.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,875 shares of the scientific and technical instruments company’s stock after selling 1,720 shares during the quarter. Mackenzie Financial Corp’s holdings in Itron were worth $746,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Arizona State Retirement System boosted its position in Itron by 1.4% during the third quarter. Arizona State Retirement System now owns 12,933 shares of the scientific and technical instruments company’s stock worth $783,000 after acquiring an additional 180 shares during the last quarter. Advisors Asset Management Inc. boosted its position in Itron by 0.4% during the third quarter. Advisors Asset Management Inc. now owns 41,337 shares of the scientific and technical instruments company’s stock worth $2,504,000 after acquiring an additional 180 shares during the last quarter. Pathstone Family Office LLC boosted its position in Itron by 2.0% during the third quarter. Pathstone Family Office LLC now owns 9,275 shares of the scientific and technical instruments company’s stock worth $562,000 after acquiring an additional 185 shares during the last quarter. Guinness Atkinson Asset Management Inc boosted its position in Itron by 1.2% during the third quarter. Guinness Atkinson Asset Management Inc now owns 18,882 shares of the scientific and technical instruments company’s stock worth $1,144,000 after acquiring an additional 229 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. boosted its holdings in shares of Itron by 1.2% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 19,549 shares of the scientific and technical instruments company’s stock valued at $1,184,000 after purchasing an additional 236 shares during the last quarter. Institutional investors and hedge funds own 96.19% of the company’s stock.

Itron Stock Performance

Shares of Itron stock opened at $94.39 on Friday. The firm has a market cap of $4.33 billion, a PE ratio of 44.95, a price-to-earnings-growth ratio of 1.05 and a beta of 1.41. The firm’s 50-day simple moving average is $89.03 and its 200-day simple moving average is $75.65. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.43 and a current ratio of 1.95. Itron, Inc. has a 1 year low of $50.60 and a 1 year high of $96.73.

Itron (NASDAQ:ITRI) last issued its 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. The business had revenue of $577.17 million for the quarter, compared to analyst estimates of $569.90 million. Itron had a net margin of 4.46% and a return on equity of 12.27%. The company’s revenue for the quarter was up 23.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.71 EPS. Equities analysts forecast that Itron, Inc. will post 3.61 earnings per share for the current fiscal year.

Insider Activity

In related news, SVP Donald L. Reeves III sold 383 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total transaction of $28,866.71. Following the completion of the sale, the senior vice president now owns 8,708 shares of the company’s stock, valued at approximately $656,321.96. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Thomas Deitrich sold 1,912 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total transaction of $144,107.44. Following the completion of the sale, the chief executive officer now owns 169,073 shares of the company’s stock, valued at approximately $12,743,032.01. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Donald L. Reeves III sold 383 shares of the business’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total transaction of $28,866.71. Following the sale, 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. In the last 90 days, insiders have sold 30,467 shares of company stock worth $2,752,520. 1.45% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. Piper Sandler decreased their price target on shares of Itron from $105.00 to $103.00 and set an “overweight” rating on the stock in a report on Thursday, April 11th. Raymond James lowered shares of Itron from an “outperform” rating to a “market perform” rating in a report on Thursday, January 4th. TheStreet upgraded shares of Itron from a “c” rating to a “b-” rating in a report on Monday, February 26th. Oppenheimer upgraded shares of Itron from a “market perform” rating to an “outperform” rating and set a $81.00 price target on the stock in a report on Friday, January 19th. Finally, Robert W. Baird lifted their price target on shares of Itron from $108.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, March 13th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $97.60.

Itron Company 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.