Mirae Asset Global Investments Co. Ltd. Sells 3,681 Shares of Itron, Inc. (NASDAQ:ITRI)

Mirae Asset Global Investments Co. Ltd. cut its holdings in shares of Itron, Inc. (NASDAQ:ITRI) by 3.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 99,981 shares of the scientific and technical instruments company’s stock after selling 3,681 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.22% of Itron worth $7,550,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Itron by 2.6% during the third quarter. Vanguard Group Inc. now owns 5,668,071 shares of the scientific and technical instruments company’s stock worth $343,372,000 after buying an additional 142,564 shares in the last quarter. Trexquant Investment LP increased its holdings in shares of Itron by 48.8% during the third quarter. Trexquant Investment LP now owns 57,431 shares of the scientific and technical instruments company’s stock worth $3,479,000 after buying an additional 18,842 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of Itron by 495.8% during the third quarter. Hsbc Holdings PLC now owns 21,086 shares of the scientific and technical instruments company’s stock worth $1,280,000 after buying an additional 17,547 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Itron during the third quarter worth $539,000. Finally, Quantbot Technologies LP acquired a new position in shares of Itron during the third quarter worth $908,000. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Itron

In other news, SVP Donald L. Reeves III sold 383 shares of the 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 transaction, the senior vice president now owns 8,708 shares of the company’s stock, valued at approximately $656,321.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Thomas Deitrich sold 1,912 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total value of $144,107.44. Following the transaction, 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 hyperlink. Also, SVP Donald L. Reeves III sold 383 shares of the firm’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 transaction, the senior vice president now directly owns 8,708 shares in the company, valued at approximately $656,321.96. The disclosure for this sale can be found here. Insiders have sold 30,467 shares of company stock valued at $2,752,520 in the last 90 days. 1.45% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ITRI shares. Robert W. Baird increased their price objective on Itron from $108.00 to $115.00 and gave the company an “outperform” rating in a report on Wednesday, March 13th. JPMorgan Chase & Co. increased their price objective on Itron from $77.00 to $92.00 and gave the company a “neutral” rating in a report on Wednesday, March 13th. TD Cowen increased their price objective on Itron from $107.00 to $110.00 and gave the company an “outperform” rating in a report on Wednesday, March 13th. TheStreet upgraded Itron from a “c” rating to a “b-” rating in a report on Monday, February 26th. Finally, Canaccord Genuity Group upgraded Itron from a “hold” rating to a “buy” rating and increased their price objective for the company from $68.00 to $105.00 in a report on Tuesday, February 27th. Three analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, Itron currently has a consensus rating of “Moderate Buy” and a consensus price target of $95.60.

Itron Price Performance

ITRI stock opened at $91.44 on Friday. The stock has a market capitalization of $4.19 billion, a PE ratio of 43.54, a price-to-earnings-growth ratio of 1.02 and a beta of 1.41. The company’s 50-day moving average is $86.27 and its 200-day moving average is $73.83. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.95 and a quick ratio of 1.43. Itron, Inc. has a 1 year low of $50.60 and a 1 year high of $96.73.

Itron (NASDAQ:ITRI) last released its quarterly earnings data on Monday, February 26th. The scientific and technical instruments company reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.48. The company had revenue of $577.17 million for the quarter, compared to analysts’ expectations of $569.90 million. Itron had a net margin of 4.46% and a return on equity of 12.27%. The business’s revenue was up 23.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.71 EPS. Equities research analysts expect that Itron, Inc. will post 3.61 EPS for the current fiscal year.

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.