Axa S.A. Reduces Holdings in Itron, Inc. (NASDAQ:ITRI)

Axa S.A. lessened its holdings in Itron, Inc. (NASDAQ:ITRI) by 26.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 101,258 shares of the scientific and technical instruments company’s stock after selling 36,988 shares during the period. Axa S.A. owned 0.22% of Itron worth $10,020,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ITRI. Hexagon Capital Partners LLC lifted its stake in 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 valued at $27,000 after buying an additional 125 shares in the last quarter. Contravisory Investment Management Inc. raised its holdings in shares of Itron by 61.5% in the first 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 during the last quarter. GAMMA Investing LLC raised its holdings in shares of Itron by 32.7% in the first 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 during the last quarter. C M Bidwell & Associates Ltd. purchased a new stake in shares of Itron in the fourth quarter valued at $76,000. Finally, CWM LLC boosted its stake in shares of Itron by 315.6% during the second quarter. CWM LLC now owns 881 shares of the scientific and technical instruments company’s stock valued at $87,000 after acquiring an additional 669 shares during the last quarter. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages recently weighed in on ITRI. Janney Montgomery Scott initiated coverage on shares of Itron in a research note on Friday. They issued a “buy” rating and a $131.00 target price for the company. Robert W. Baird raised their target price on shares of Itron from $115.00 to $123.00 and gave the stock an “outperform” rating in a research report on Friday, August 2nd. StockNews.com downgraded Itron from a “strong-buy” rating to a “buy” rating in a report on Friday, June 28th. 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 note on Tuesday, July 16th. Finally, Roth Mkm reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Itron in a research report on Wednesday, August 21st. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $119.67.

Insider Transactions at Itron

In related news, SVP Donald L. Reeves III sold 4,210 shares of the company’s stock in a transaction on 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 sale, the senior vice president now directly owns 16,269 shares of the company’s stock, valued at approximately $1,643,169. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, SVP Donald L. Reeves III sold 4,210 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total transaction of $425,210.00. Following the sale, the senior vice president now directly owns 16,269 shares in the company, valued at approximately $1,643,169. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Joan S. Hooper sold 509 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was 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 of the company’s stock, valued at approximately $7,389,326.70. The disclosure for this sale can be found here. Insiders sold 5,776 shares of company stock valued at $584,721 over the last 90 days. Corporate insiders own 1.45% of the company’s stock.

Itron Price Performance

ITRI stock opened at $107.28 on Friday. The company has a market cap of $4.92 billion, a PE ratio of 30.83, a price-to-earnings-growth ratio of 0.90 and a beta of 1.47. The company has a current ratio of 3.16, a quick ratio of 2.61 and a debt-to-equity ratio of 0.98. The stock has a 50-day moving average price of $101.00 and a two-hundred day moving average price of $99.83. Itron, Inc. has a 12-month low of $56.11 and a 12-month high of $113.07.

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