Guinness Atkinson Asset Management Inc Sells 178 Shares of Itron, Inc. (NASDAQ:ITRI)

Guinness Atkinson Asset Management Inc lowered its stake in Itron, Inc. (NASDAQ:ITRI) by 1.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,555 shares of the scientific and technical instruments company’s stock after selling 178 shares during the period. Guinness Atkinson Asset Management Inc’s holdings in Itron were worth $1,021,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Los Angeles Capital Management LLC acquired a new stake in Itron in the first quarter valued at about $2,002,000. Commonwealth Equity Services LLC bought a new position in Itron in the 1st quarter valued at approximately $1,076,000. Jupiter Asset Management Ltd. acquired a new stake in Itron in the first quarter valued at approximately $2,029,000. Sculptor Capital LP acquired a new stake in Itron in the second quarter valued at approximately $5,255,000. Finally, UniSuper Management Pty Ltd bought a new stake in shares of Itron during the first quarter worth $904,000. Institutional investors and hedge funds own 96.19% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Donald L. Reeves III sold 4,210 shares of Itron stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total transaction of $425,210.00. Following the sale, the senior vice president now directly owns 16,269 shares in the company, valued at $1,643,169. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Donald L. Reeves III sold 4,210 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $101.00, for a total value of $425,210.00. Following the transaction, the senior vice president now owns 16,269 shares in the company, valued at approximately $1,643,169. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Thomas Deitrich sold 887 shares of the stock in a transaction 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 transaction, the chief executive officer now directly owns 205,276 shares of the company’s stock, valued at approximately $20,968,943.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 43,276 shares of company stock valued at $4,515,846. Insiders own 1.45% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. upped their target price on Itron from $104.00 to $112.00 and gave the stock a “neutral” rating in a report on Tuesday, July 16th. Robert W. Baird boosted their target price on shares of Itron from $115.00 to $123.00 and gave the stock an “outperform” rating in a report on Friday, August 2nd. Piper Sandler raised their price target on shares of Itron from $109.00 to $110.00 and gave the company a “neutral” rating in a research note on Monday, July 22nd. Stephens reissued an “equal weight” rating and issued a $110.00 price objective on shares of Itron in a research note on Monday, August 5th. Finally, TD Cowen increased their price objective on Itron from $115.00 to $125.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $119.67.

Itron Stock Up 1.7 %

NASDAQ:ITRI traded up $1.86 during trading hours on Friday, hitting $108.30. 498,069 shares of the company traded hands, compared to its average volume of 520,370. The company has a quick ratio of 2.61, a current ratio of 3.16 and a debt-to-equity ratio of 0.98. The company has a market cap of $4.87 billion, a PE ratio of 26.74, a PEG ratio of 0.91 and a beta of 1.47. The firm’s 50-day simple moving average is $101.49 and its 200-day simple moving average is $101.03. Itron, Inc. has a one year low of $56.11 and a one year high of $113.07.

Itron (NASDAQ:ITRI) last released its quarterly earnings results on Thursday, August 1st. The scientific and technical instruments company reported $1.21 earnings per share for the quarter, topping the consensus estimate of $0.96 by $0.25. Itron had a net margin of 7.98% and a return on equity of 16.42%. The business had revenue of $609.07 million for the quarter, compared to analysts’ expectations of $599.25 million. During the same period in the previous year, the company earned $0.65 earnings per share. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. Equities analysts predict that Itron, Inc. will post 4.58 earnings per share for the current year.

Itron Company Profile

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.