Itron, Inc. (NASDAQ:ITRI) Position Increased by Principal Financial Group Inc.

Principal Financial Group Inc. raised its position in Itron, Inc. (NASDAQ:ITRI - Free Report) by 4.5% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 248,077 shares of the scientific and technical instruments company's stock after acquiring an additional 10,677 shares during the period. Principal Financial Group Inc. owned about 0.54% of Itron worth $26,497,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Quarry LP lifted its stake in Itron by 53.0% in the second quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company's stock valued at $35,000 after buying an additional 122 shares during the period. Hexagon Capital Partners LLC raised its holdings in shares of 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 valued at $27,000 after purchasing an additional 125 shares during the last quarter. Farther Finance Advisors LLC boosted its holdings in Itron by 21.7% during the third quarter. Farther Finance Advisors LLC now owns 724 shares of the scientific and technical instruments company's stock worth $77,000 after purchasing an additional 129 shares during the last quarter. Xponance Inc. grew its holdings in shares of Itron by 5.1% in the second quarter. Xponance Inc. now owns 2,910 shares of the scientific and technical instruments company's stock valued at $288,000 after acquiring an additional 142 shares in the last quarter. Finally, Janney Montgomery Scott LLC increased its position in shares of Itron by 1.7% during the third quarter. Janney Montgomery Scott LLC now owns 11,425 shares of the scientific and technical instruments company's stock valued at $1,220,000 after acquiring an additional 190 shares during the last quarter. Institutional investors own 96.19% of the company's stock.

Insider Activity

In related news, CEO Thomas Deitrich sold 887 shares of Itron stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $102.15, for a total value of $90,607.05. Following the completion of the transaction, the chief executive officer now owns 205,276 shares in the company, valued at $20,968,943.40. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Donald L. Reeves III sold 4,210 shares of the stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $101.00, for a total value of $425,210.00. Following the transaction, the senior vice president now directly owns 16,269 shares of the company's stock, valued at $1,643,169. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Thomas Deitrich sold 887 shares of the business'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 $90,607.05. Following the completion of the sale, the chief executive officer now owns 205,276 shares of the company's stock, valued at approximately $20,968,943.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 43,276 shares of company stock worth $4,517,947. Corporate insiders own 1.45% of the company's stock.

Analyst Ratings Changes

ITRI has been the topic of several research reports. BNP Paribas started coverage on Itron in a research note on Thursday, September 5th. They issued an "outperform" rating and a $133.00 target price on the stock. JPMorgan Chase & Co. upped their target price on Itron from $104.00 to $112.00 and gave the company a "neutral" rating in a report on Tuesday, July 16th. Piper Sandler lifted their price target on shares of Itron from $110.00 to $119.00 and gave the company a "neutral" rating in a report on Friday, November 1st. TD Cowen upped their price objective on shares of Itron from $125.00 to $136.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Finally, Robert W. Baird increased their price target on shares of Itron from $123.00 to $132.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $123.92.

Itron Stock Performance

Shares of NASDAQ ITRI traded down $0.65 during trading on Wednesday, hitting $120.58. The company had a trading volume of 98,670 shares, compared to its average volume of 523,229. Itron, Inc. has a 12 month low of $64.55 and a 12 month high of $124.90. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36. The firm has a market capitalization of $5.44 billion, a P/E ratio of 24.71, a price-to-earnings-growth ratio of 0.91 and a beta of 1.46. The stock has a 50 day simple moving average of $106.67 and a 200 day simple moving average of $104.11.

Itron (NASDAQ:ITRI - Get Free Report) last released its earnings results on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share for the quarter, beating analysts' consensus estimates of $1.13 by $0.71. The company had revenue of $615.46 million for the quarter, compared to analysts' expectations of $596.41 million. Itron had a net margin of 9.37% and a return on equity of 19.03%. Itron's revenue for the quarter was up 9.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.98 EPS. As a group, analysts anticipate that Itron, Inc. will post 5.33 earnings per share for the current 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.