Dimensional Fund Advisors LP Sells 94,187 Shares of Itron, Inc. (NASDAQ:ITRI)

Dimensional Fund Advisors LP decreased its holdings in shares of Itron, Inc. (NASDAQ:ITRI) by 5.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,529,413 shares of the scientific and technical instruments company’s stock after selling 94,187 shares during the period. Dimensional Fund Advisors LP owned 3.33% of Itron worth $151,353,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ITRI. Hexagon Capital Partners LLC raised its position in shares of Itron by 85.6% in the 2nd quarter. Hexagon Capital Partners LLC now owns 271 shares of the scientific and technical instruments company’s stock worth $27,000 after acquiring an additional 125 shares in the last quarter. Contravisory Investment Management Inc. raised its position in shares of Itron by 61.5% in the 1st quarter. Contravisory Investment Management Inc. now owns 344 shares of the scientific and technical instruments company’s stock worth $32,000 after acquiring an additional 131 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Itron by 32.7% in the 1st quarter. GAMMA Investing LLC now owns 491 shares of the scientific and technical instruments company’s stock worth $45,000 after acquiring an additional 121 shares in the last quarter. C M Bidwell & Associates Ltd. bought a new position in shares of Itron in the 4th quarter worth approximately $76,000. Finally, BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of Itron in the 4th quarter worth approximately $81,000. Institutional investors own 96.19% of the company’s stock.

Insider Activity at Itron

In related news, CFO Joan S. Hooper sold 509 shares of Itron stock in a transaction on Monday, August 26th. The stock was sold at an average price of $102.15, for a total transaction of $51,994.35. Following the transaction, the chief financial officer now directly owns 72,338 shares in the company, valued at $7,389,326.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Thomas Deitrich sold 887 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was 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 in the company, valued at $20,968,943.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Joan S. Hooper sold 509 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $102.15, for a total value of $51,994.35. Following the completion of the transaction, the chief financial officer now owns 72,338 shares in the company, valued at $7,389,326.70. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,776 shares of company stock worth $584,721. Corporate insiders own 1.45% of the company’s stock.

Analysts Set New Price Targets

ITRI has been the topic of several recent research reports. StockNews.com downgraded Itron from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 28th. TD Cowen upped their price target on Itron from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Guggenheim upgraded Itron from a “neutral” rating to a “buy” rating and set a $130.00 price target on the stock in a research note on Thursday, July 11th. Piper Sandler upped their price target on Itron from $109.00 to $110.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. Finally, Roth Mkm restated a “buy” rating and issued a $125.00 price target on shares of Itron in a research note on Wednesday, August 21st. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Itron has a consensus rating of “Moderate Buy” and a consensus price target of $118.64.

Itron Stock Performance

ITRI stock opened at $107.22 on Friday. The company has a market cap of $4.92 billion, a P/E ratio of 30.81, a price-to-earnings-growth ratio of 0.84 and a beta of 1.47. Itron, Inc. has a 1 year low of $56.11 and a 1 year high of $113.07. 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 stock’s fifty day moving average price is $100.85 and its 200-day moving average price is $99.49.

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

About Itron

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.