Allspring Global Investments Holdings LLC Sells 3,024 Shares of Itron, Inc. (NASDAQ:ITRI)

Allspring Global Investments Holdings LLC decreased its holdings in shares of Itron, Inc. (NASDAQ:ITRI) by 42.5% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 4,087 shares of the scientific and technical instruments company’s stock after selling 3,024 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Itron were worth $437,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the company. Quarry LP lifted its stake in Itron by 53.0% during the second quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company’s stock worth $35,000 after purchasing an additional 122 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in shares of Itron by 85.6% during 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 during the period. Xponance Inc. grew its holdings in shares of Itron by 5.1% during the 2nd quarter. Xponance Inc. now owns 2,910 shares of the scientific and technical instruments company’s stock worth $288,000 after acquiring an additional 142 shares during the period. GAMMA Investing LLC grew its holdings in shares of Itron by 46.6% during the 2nd quarter. GAMMA Investing LLC now owns 720 shares of the scientific and technical instruments company’s stock worth $71,000 after acquiring an additional 229 shares during the period. Finally, Private Advisor Group LLC boosted its position in shares of Itron by 1.9% in 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. Institutional investors own 96.19% of the company’s stock.

Insiders Place Their Bets

In other Itron news, SVP Donald L. Reeves III sold 4,210 shares of the stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total value of $425,210.00. Following the completion of the sale, the senior vice president now owns 16,269 shares in the company, valued at approximately $1,643,169. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Itron news, SVP Donald L. Reeves III sold 4,210 shares of the stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total transaction of $425,210.00. Following the completion of the transaction, the senior vice president now owns 16,269 shares of the company’s stock, valued at $1,643,169. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Thomas Deitrich sold 37,500 shares of the stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $104.83, for a total transaction of $3,931,125.00. Following the transaction, the chief executive officer now directly owns 205,276 shares of the company’s stock, valued at $21,519,083.08. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 43,276 shares of company stock worth $4,515,846. Corporate insiders own 1.45% of the company’s stock.

Wall Street Analyst Weigh In

ITRI has been the topic of a number of analyst reports. Oppenheimer boosted their price target on Itron from $120.00 to $124.00 and gave the stock an “outperform” rating in a research report on Friday. Guggenheim raised Itron from a “neutral” rating to a “buy” rating and set a $130.00 price objective on the stock in a research report on Thursday, July 11th. TD Cowen upped their price objective on Itron from $125.00 to $136.00 and gave the company a “buy” rating in a research report on Friday. Stephens reaffirmed an “equal weight” rating and issued a $110.00 price objective on shares of Itron in a research report on Monday, August 5th. Finally, Janney Montgomery Scott began coverage on Itron in a research report on Friday, September 27th. They issued a “buy” rating and a $131.00 price objective on the stock. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $123.50.

Itron Trading Up 0.0 %

NASDAQ:ITRI opened at $111.81 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.61. The firm has a market capitalization of $5.03 billion, a price-to-earnings ratio of 22.91, a price-to-earnings-growth ratio of 0.94 and a beta of 1.46. Itron, Inc. has a one year low of $58.88 and a one year high of $116.39. The business has a fifty day moving average price of $103.88 and a 200-day moving average price of $102.57.

Itron (NASDAQ:ITRI) last issued its quarterly earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.71. Itron had a return on equity of 19.03% and a net margin of 9.37%. The business had revenue of $615.46 million during the quarter, compared to analyst estimates of $596.41 million. During the same quarter in the prior year, the business posted $0.98 EPS. Itron’s revenue for the quarter was up 9.8% compared to the same quarter last year. Sell-side analysts forecast that Itron, Inc. will post 4.58 EPS 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.