Principal Financial Group Inc. Has $26.50 Million Stock Holdings in Itron, Inc. (NASDAQ:ITRI)

Principal Financial Group Inc. increased its position in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 4.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 248,077 shares of the scientific and technical instruments company's stock after acquiring an additional 10,677 shares during the quarter. Principal Financial Group Inc. owned about 0.55% of Itron worth $26,497,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Quarry LP boosted its stake in shares of Itron by 53.0% in the 2nd quarter. Quarry LP now owns 352 shares of the scientific and technical instruments company's stock valued at $35,000 after purchasing an additional 122 shares during the last quarter. Continuum Advisory LLC lifted its holdings in Itron by 42.1% in the third quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company's stock valued at $40,000 after buying an additional 102 shares during the period. Covestor Ltd lifted its holdings in Itron by 26.1% in the third quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company's stock valued at $57,000 after buying an additional 111 shares during the period. Farther Finance Advisors LLC boosted its stake in Itron by 21.7% in the third quarter. Farther Finance Advisors LLC now owns 724 shares of the scientific and technical instruments company's stock valued at $77,000 after acquiring an additional 129 shares during the last quarter. Finally, Truvestments Capital LLC acquired a new stake in Itron during the 3rd quarter worth $103,000. Institutional investors own 96.19% of the company's stock.

Itron Stock Up 1.4 %

NASDAQ ITRI traded up $1.52 on Wednesday, reaching $110.45. The company had a trading volume of 98,827 shares, compared to its average volume of 514,375. The company's fifty day moving average is $113.20 and its 200-day moving average is $105.96. The firm has a market capitalization of $4.98 billion, a price-to-earnings ratio of 22.63, a price-to-earnings-growth ratio of 0.86 and a beta of 1.46. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36. Itron, Inc. has a 1-year low of $67.21 and a 1-year high of $124.90.

Itron (NASDAQ:ITRI - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The scientific and technical instruments company reported $1.84 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.13 by $0.71. The business had revenue of $615.46 million during the quarter, compared to the consensus estimate of $596.41 million. Itron had a return on equity of 19.03% and a net margin of 9.37%. Itron's quarterly revenue was up 9.8% on a year-over-year basis. During the same period last year, the company earned $0.98 earnings per share. On average, research analysts forecast that Itron, Inc. will post 5.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ITRI. Oppenheimer raised their price target on Itron from $120.00 to $124.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. TD Cowen raised their target price on Itron from $125.00 to $136.00 and gave the stock a "buy" rating in a report on Friday, November 1st. Roth Mkm upped their price target on Itron from $125.00 to $130.00 and gave the company a "buy" rating in a research note on Friday, November 1st. Robert W. Baird increased their price target on shares of Itron from $123.00 to $132.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Finally, Janney Montgomery Scott initiated coverage on shares of Itron in a report on Friday, September 27th. They set a "buy" rating and a $131.00 price objective for the company. Four analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, Itron has an average rating of "Moderate Buy" and an average price target of $123.92.

Insider Transactions at Itron

In related news, CEO Thomas Deitrich sold 37,500 shares of Itron stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $104.83, for a total value of $3,931,125.00. Following the sale, the chief executive officer now owns 205,276 shares of the company's stock, valued at approximately $21,519,083.08. The trade was a 15.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.45% of the stock is currently owned by insiders.

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.