BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 24,886 Shares of Itron, Inc. (NASDAQ:ITRI)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. reduced its position in Itron, Inc. (NASDAQ:ITRI) by 80.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,102 shares of the scientific and technical instruments company’s stock after selling 24,886 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Itron were worth $604,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ITRI. GAMMA Investing LLC purchased a new stake in shares of Itron in the fourth quarter worth approximately $27,000. Hexagon Capital Partners LLC increased its stake in Itron by 85.6% in the second quarter. Hexagon Capital Partners LLC now owns 271 shares of the scientific and technical instruments company’s stock worth $27,000 after purchasing an additional 125 shares during the period. Contravisory Investment Management Inc. lifted its position in shares of Itron by 61.5% during the first quarter. Contravisory Investment Management Inc. now owns 344 shares of the scientific and technical instruments company’s stock worth $32,000 after purchasing an additional 131 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in shares of Itron during the fourth quarter valued at $76,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of Itron during the fourth quarter valued at $81,000. Institutional investors own 96.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the stock. Stephens reiterated an “equal weight” rating and set a $110.00 price objective on shares of Itron in a report on Monday, August 5th. TD Cowen lifted their price target on shares of Itron from $115.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Piper Sandler increased their price objective on Itron from $109.00 to $110.00 and gave the stock a “neutral” rating in a research note on Monday, July 22nd. StockNews.com lowered Itron from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 28th. Finally, JPMorgan Chase & Co. increased their price target on Itron from $104.00 to $112.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 16th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, Itron currently has a consensus rating of “Moderate Buy” and an average target price of $117.20.

Insiders Place Their Bets

In other news, CFO Joan S. Hooper sold 509 shares of the 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 completion of the sale, the chief financial officer now owns 72,338 shares in the company, valued at approximately $7,389,326.70. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Donald L. Reeves III sold 4,210 shares of the company’s 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 transaction, the senior vice president now owns 16,269 shares in the company, valued at $1,643,169. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Joan S. Hooper sold 509 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $102.15, for a total transaction of $51,994.35. Following the completion of the transaction, the chief financial officer now directly owns 72,338 shares of the company’s stock, 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 valued at $584,721. 1.45% of the stock is currently owned by insiders.

Itron Price Performance

Shares of ITRI stock opened at $97.77 on Wednesday. The stock’s 50-day moving average is $100.53 and its 200 day moving average is $98.16. 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 company has a market cap of $4.48 billion, a P/E ratio of 28.09, a PEG ratio of 0.86 and a beta of 1.45.

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