The Manufacturers Life Insurance Company Trims Stock Holdings in Itron, Inc. (NASDAQ:ITRI)

The Manufacturers Life Insurance Company decreased its position in shares of Itron, Inc. (NASDAQ:ITRI) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,380 shares of the scientific and technical instruments company’s stock after selling 851 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Itron were worth $2,756,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. GeoWealth Management LLC boosted its holdings in shares of Itron by 4,580.0% in the 4th quarter. GeoWealth Management LLC now owns 234 shares of the scientific and technical instruments company’s stock valued at $25,000 after acquiring an additional 229 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Itron during the 4th quarter valued at about $30,000. Hager Investment Management Services LLC acquired a new position in shares of Itron in the 4th quarter valued at about $67,000. Contravisory Investment Management Inc. boosted its stake in shares of Itron by 154.9% in the fourth quarter. Contravisory Investment Management Inc. now owns 864 shares of the scientific and technical instruments company’s stock worth $94,000 after buying an additional 525 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Itron by 347.5% during the fourth quarter. Smartleaf Asset Management LLC now owns 886 shares of the scientific and technical instruments company’s stock worth $97,000 after acquiring an additional 688 shares during the period. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Insider Activity at Itron

In other Itron news, Director Mary C. Hemmingsen sold 750 shares of Itron stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $107.27, for a total transaction of $80,452.50. Following the completion of the sale, the director now directly owns 5,630 shares in the company, valued at $603,930.10. This trade represents a 11.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO David Marshall Wright sold 317 shares of the company’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $92.90, for a total transaction of $29,449.30. Following the completion of the transaction, the chief accounting officer now owns 8,108 shares in the company, valued at approximately $753,233.20. This represents a 3.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,187 shares of company stock valued at $945,620. 1.45% of the stock is owned by company insiders.

Itron Price Performance

Itron stock opened at $108.38 on Friday. The firm has a market capitalization of $4.94 billion, a price-to-earnings ratio of 22.21, a PEG ratio of 0.81 and a beta of 1.31. Itron, Inc. has a 52-week low of $90.11 and a 52-week high of $124.90. The company has a fifty day simple moving average of $104.39 and a 200-day simple moving average of $107.57. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91.

Itron (NASDAQ:ITRI) last announced its quarterly earnings data on Thursday, May 1st. The scientific and technical instruments company reported $1.52 EPS for the quarter, topping analysts’ consensus estimates of $1.30 by $0.22. Itron had a return on equity of 19.03% and a net margin of 9.37%. The firm had revenue of $607.15 million for the quarter, compared to the consensus estimate of $608.86 million. During the same quarter last year, the business posted $1.24 earnings per share. The firm’s revenue was up .6% compared to the same quarter last year. On average, equities analysts anticipate that Itron, Inc. will post 5.33 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ITRI has been the topic of several recent research reports. Guggenheim restated a “buy” rating and issued a $133.00 price objective on shares of Itron in a research report on Thursday, April 17th. Canaccord Genuity Group lifted their price objective on shares of Itron from $130.00 to $132.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Oppenheimer upped their price objective on shares of Itron from $124.00 to $131.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 26th. Piper Sandler dropped their target price on Itron from $124.00 to $121.00 and set a “neutral” rating on the stock in a research report on Monday, May 5th. Finally, StockNews.com cut Itron from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 1st. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Itron presently has an average rating of “Moderate Buy” and a consensus target price of $127.36.

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.