Healthcare of Ontario Pension Plan Trust Fund Sells 7,863 Shares of Itron, Inc. (NASDAQ:ITRI)

Healthcare of Ontario Pension Plan Trust Fund lessened its position in Itron, Inc. (NASDAQ:ITRI) by 14.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 48,332 shares of the scientific and technical instruments company’s stock after selling 7,863 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.11% of Itron worth $4,472,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position in Itron by 0.8% during the first quarter. Vanguard Group Inc. now owns 5,701,337 shares of the scientific and technical instruments company’s stock valued at $527,488,000 after buying an additional 45,909 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Itron by 3.2% in 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 in the last quarter. Vontobel Holding Ltd. lifted its position in Itron by 16.0% during the 4th quarter. Vontobel Holding Ltd. now owns 804,648 shares of the scientific and technical instruments company’s stock valued at $60,759,000 after acquiring an additional 110,849 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Itron by 3.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 518,157 shares of the scientific and technical instruments company’s stock worth $39,126,000 after acquiring an additional 15,157 shares in the last quarter. Finally, Pinnacle Associates Ltd. grew its holdings in 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 purchasing an additional 1,111 shares during the period. 96.19% of the stock is currently owned by institutional investors.

Itron Price Performance

NASDAQ ITRI opened at $101.19 on Friday. Itron, Inc. has a one year low of $56.11 and a one year high of $111.00. The stock has a 50-day moving average of $104.11 and a 200 day moving average of $92.66. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.40 and a current ratio of 1.90. The company has a market capitalization of $4.64 billion, a price-to-earnings ratio of 29.08, a PEG ratio of 0.96 and a beta of 1.45.

Itron (NASDAQ:ITRI) last announced its quarterly earnings results on Thursday, May 2nd. The scientific and technical instruments company reported $1.24 EPS for the quarter, topping 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 firm had revenue of $603.44 million during the quarter, compared to analyst estimates of $579.49 million. During the same period in the previous year, the business posted $0.49 earnings per share. The business’s revenue for the quarter was up 22.0% on a year-over-year basis. On average, sell-side analysts forecast that Itron, Inc. will post 4.1 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Canaccord Genuity Group raised their target price on shares of Itron from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Thursday, June 20th. Piper Sandler raised their price objective on Itron from $109.00 to $110.00 and gave the company a “neutral” rating in a research report on Monday. Guggenheim raised Itron from a “neutral” rating to a “buy” rating and set a $130.00 target price on the stock in a report on Thursday, July 11th. JPMorgan Chase & Co. increased their target price on Itron from $104.00 to $112.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 16th. Finally, Roth Mkm lifted their price target on Itron from $112.00 to $122.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.09.

Insiders Place Their Bets

In other Itron news, CEO Thomas Deitrich sold 873 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 206,163 shares in the company, valued at approximately $22,444,965.81. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, CEO Thomas Deitrich sold 873 shares of Itron stock in a transaction on Friday, May 24th. The stock was sold at an average price of $108.87, for a total value of $95,043.51. Following the completion of the sale, the chief executive officer now owns 206,163 shares of the company’s stock, valued at $22,444,965.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Joan S. Hooper sold 501 shares of the company’s stock in a transaction on Friday, May 24th. The shares were sold at an average price of $108.87, for a total value of $54,543.87. Following the sale, the chief financial officer now owns 72,847 shares of the company’s stock, valued at approximately $7,930,852.89. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,775 shares of company stock valued at $192,613. Company insiders own 1.45% of the company’s stock.

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.