Mackenzie Financial Corp Sells 1,720 Shares of Itron, Inc. (NASDAQ:ITRI)

Mackenzie Financial Corp trimmed its holdings in shares of Itron, Inc. (NASDAQ:ITRI) by 14.8% in the fourth quarter, Holdings Channel.com reports. 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 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ITRI. SG Americas Securities LLC bought a new position in shares of Itron during the 3rd quarter worth about $239,000. Pinnacle Associates Ltd. lifted its holdings in shares of Itron by 25.0% during the 3rd quarter. Pinnacle Associates Ltd. now owns 397,261 shares of the scientific and technical instruments company’s stock worth $24,066,000 after acquiring an additional 79,340 shares during the period. Raymond James Financial Services Advisors Inc. lifted its holdings in shares of Itron by 1.2% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 19,549 shares of the scientific and technical instruments company’s stock worth $1,184,000 after acquiring an additional 236 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Itron by 453.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 114,856 shares of the scientific and technical instruments company’s stock worth $6,958,000 after acquiring an additional 94,085 shares during the period. Finally, Inspire Investing LLC lifted its holdings in Itron by 9.6% during the 3rd quarter. Inspire Investing LLC now owns 5,684 shares of the scientific and technical instruments company’s stock valued at $344,000 after purchasing an additional 498 shares during the last quarter. 96.19% of the stock is owned by institutional investors.

Insider Transactions at Itron

In other news, SVP Donald L. Reeves III sold 383 shares of Itron stock in a transaction that occurred on 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 in the company, valued at approximately $656,321.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CFO Joan S. Hooper sold 1,560 shares of Itron stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $75.37, for a total transaction of $117,577.20. Following the completion of the sale, the chief financial officer now owns 60,141 shares in the company, valued at approximately $4,532,827.17. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Donald L. Reeves III sold 383 shares of the company’s stock in a transaction that occurred on 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 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. Insiders sold a total of 30,467 shares of company stock worth $2,752,520 in the last quarter. 1.45% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on ITRI shares. Raymond James downgraded shares of Itron from an “outperform” rating to a “market perform” rating in a report on Thursday, January 4th. Roth Mkm reissued a “buy” rating and set a $102.00 price target on shares of Itron in a report on Tuesday. Piper Sandler cut their price target on shares of Itron from $105.00 to $103.00 and set an “overweight” rating for the company in a report on Thursday, April 11th. Canaccord Genuity Group raised shares of Itron from a “hold” rating to a “buy” rating and lifted their price target for the company from $68.00 to $105.00 in a report on Tuesday, February 27th. Finally, Oppenheimer raised shares of Itron from a “market perform” rating to an “outperform” rating and set a $81.00 price target for the company in a report on Friday, January 19th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, Itron has an average rating of “Moderate Buy” and an average price target of $97.60.

Itron Trading Down 0.0 %

ITRI opened at $94.39 on Friday. The company has a current ratio of 1.95, a quick ratio of 1.43 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $4.33 billion, a PE ratio of 44.95, a PEG ratio of 1.05 and a beta of 1.41. Itron, Inc. has a 1-year low of $50.60 and a 1-year high of $96.73. The firm has a 50-day moving average price of $89.03 and a two-hundred day moving average price of $75.65.

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

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.