Itron, Inc. $ITRI Shares Sold by Peregrine Asset Advisers Inc.

Peregrine Asset Advisers Inc. trimmed its holdings in Itron, Inc. (NASDAQ:ITRI) by 32.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 52,377 shares of the scientific and technical instruments company’s stock after selling 25,621 shares during the quarter. Itron makes up about 2.0% of Peregrine Asset Advisers Inc.’s holdings, making the stock its 14th biggest position. Peregrine Asset Advisers Inc. owned 0.11% of Itron worth $6,524,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Impax Asset Management Group plc purchased a new position in Itron during the 2nd quarter worth $91,998,000. Norges Bank purchased a new stake in shares of Itron in the second quarter valued at about $71,727,000. Merewether Investment Management LP boosted its stake in shares of Itron by 1,552.7% during the second quarter. Merewether Investment Management LP now owns 300,787 shares of the scientific and technical instruments company’s stock worth $39,593,000 after buying an additional 282,587 shares during the period. Handelsbanken Fonder AB grew its holdings in shares of Itron by 21.2% during the second quarter. Handelsbanken Fonder AB now owns 943,564 shares of the scientific and technical instruments company’s stock worth $124,201,000 after buying an additional 165,300 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its position in Itron by 63.0% in the 3rd quarter. Assenagon Asset Management S.A. now owns 406,018 shares of the scientific and technical instruments company’s stock valued at $50,574,000 after acquiring an additional 156,891 shares during the period. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Justin K. Patrick sold 379 shares of the stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $96.51, for a total value of $36,577.29. Following the sale, the senior vice president directly owned 20,382 shares in the company, valued at $1,967,066.82. This represents a 1.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Christopher E. Ware sold 343 shares of the company’s stock in a transaction that occurred on Monday, November 24th. The shares were sold at an average price of $96.51, for a total value of $33,102.93. Following the completion of the sale, the senior vice president directly owned 18,774 shares in the company, valued at approximately $1,811,878.74. The trade was a 1.79% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 2,971 shares of company stock valued at $286,731. Company insiders own 1.51% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Oppenheimer lowered their target price on Itron from $145.00 to $125.00 and set an “outperform” rating on the stock in a research note on Tuesday, January 27th. Robert W. Baird reaffirmed a “neutral” rating and set a $118.00 price target (down from $137.00) on shares of Itron in a report on Friday, October 31st. Argus reiterated a “hold” rating on shares of Itron in a research report on Tuesday, November 4th. JPMorgan Chase & Co. upped their price objective on shares of Itron from $145.00 to $155.00 and gave the stock an “overweight” rating in a research report on Thursday, October 16th. Finally, Zacks Research downgraded shares of Itron from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 28th. Eight investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $136.10.

Itron Price Performance

ITRI stock opened at $101.11 on Wednesday. The firm has a 50 day moving average of $97.45 and a 200-day moving average of $112.93. The company has a market cap of $4.63 billion, a price-to-earnings ratio of 18.19, a PEG ratio of 0.57 and a beta of 1.48. The company has a current ratio of 2.17, a quick ratio of 1.91 and a debt-to-equity ratio of 0.46. Itron, Inc. has a 12-month low of $90.11 and a 12-month high of $142.00.

Itron Company Profile

Itron, Inc (NASDAQ: ITRI) is a global technology company that develops innovative solutions to measure, manage and analyze the use of energy and water. Its comprehensive portfolio includes smart meters, data collection devices, communication networks and advanced software applications designed to optimize utility operations and foster sustainable resource management. The company’s offerings enable utilities and cities to accurately monitor consumption patterns, streamline billing processes and improve grid reliability.

Itron’s product lineup spans a range of hardware and software solutions, from residential and commercial smart meters to meter data management systems (MDMS), networked communication platforms and analytics tools.