Profund Advisors LLC Cuts Stock Holdings in Itron, Inc. (NASDAQ:ITRI)

Profund Advisors LLC decreased its position in Itron, Inc. (NASDAQ:ITRI) by 8.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,315 shares of the scientific and technical instruments company’s stock after selling 222 shares during the quarter. Profund Advisors LLC’s holdings in Itron were worth $229,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. GAMMA Investing LLC grew its stake in shares of Itron by 32.7% in the 1st quarter. GAMMA Investing LLC now owns 491 shares of the scientific and technical instruments company’s stock worth $45,000 after buying an additional 121 shares in the last quarter. Hexagon Capital Partners LLC increased its stake in Itron by 85.6% during the second 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 last quarter. Contravisory Investment Management Inc. raised its position in 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 valued at $32,000 after purchasing an additional 131 shares during the period. Private Advisor Group LLC raised its position in Itron by 1.9% during the second quarter. Private Advisor Group LLC now owns 13,538 shares of the scientific and technical instruments company’s stock valued at $1,340,000 after purchasing an additional 247 shares during the period. Finally, State Board of Administration of Florida Retirement System lifted its stake in shares of Itron by 2.2% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 13,296 shares of the scientific and technical instruments company’s stock valued at $1,230,000 after purchasing an additional 290 shares during the last quarter. Institutional investors own 96.19% of the company’s stock.

Itron Stock Up 4.1 %

Shares of NASDAQ ITRI opened at $107.28 on Friday. Itron, Inc. has a 52-week low of $56.11 and a 52-week high of $113.07. The firm has a market capitalization of $4.92 billion, a price-to-earnings ratio of 30.83, a PEG ratio of 0.90 and a beta of 1.47. The stock has a 50 day moving average price of $101.00 and a 200 day moving average price of $99.83. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.61 and a current ratio of 3.16.

Itron (NASDAQ:ITRI) last posted its quarterly 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. The business had revenue of $609.07 million for the quarter, compared to the consensus estimate of $599.25 million. Itron had a return on equity of 16.42% and a net margin of 7.98%. The business’s revenue was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.65 EPS. Sell-side analysts expect that Itron, Inc. will post 4.59 earnings per share for the current year.

Analyst Upgrades and Downgrades

ITRI has been the topic of several recent research reports. TD Cowen increased their price target on Itron from $115.00 to $125.00 and gave the company a “buy” rating in a report on Friday, August 2nd. StockNews.com downgraded shares of Itron from a “strong-buy” rating to a “buy” rating in a research note on Friday, June 28th. Janney Montgomery Scott began coverage on shares of Itron in a research note on Friday. They set a “buy” rating and a $131.00 price target for the company. Oppenheimer increased their price objective on shares of Itron from $110.00 to $112.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 17th. Finally, Roth Mkm reissued a “buy” rating and issued a $125.00 price objective on shares of Itron in a research note on Wednesday, August 21st. Four investment 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.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $119.67.

Insider Buying and Selling at Itron

In other news, CFO Joan S. Hooper sold 509 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $102.15, for a total value of $51,994.35. Following the completion of the sale, the chief financial officer now owns 72,338 shares of the company’s stock, valued at approximately $7,389,326.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Itron news, CFO Joan S. Hooper sold 509 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were 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 directly owns 72,338 shares in the company, valued at $7,389,326.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Thomas Deitrich sold 887 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 $90,607.05. Following the sale, the chief executive officer now directly owns 205,276 shares of the company’s stock, valued at approximately $20,968,943.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,776 shares of company stock valued at $584,721. Company insiders own 1.45% of the company’s stock.

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.