Connor Clark & Lunn Investment Management Ltd. Sells 21,932 Shares of Itron, Inc. (NASDAQ:ITRI)

Connor Clark & Lunn Investment Management Ltd. lessened its position in Itron, Inc. (NASDAQ:ITRI) by 53.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 18,810 shares of the scientific and technical instruments company’s stock after selling 21,932 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Itron were worth $2,042,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC grew its stake in shares of Itron by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,074,940 shares of the scientific and technical instruments company’s stock worth $114,835,000 after purchasing an additional 5,630 shares during the last quarter. Vontobel Holding Ltd. grew its position in shares of Itron by 8.1% in the 4th quarter. Vontobel Holding Ltd. now owns 464,787 shares of the scientific and technical instruments company’s stock worth $50,467,000 after buying an additional 34,842 shares during the last quarter. Erste Asset Management GmbH purchased a new position in shares of Itron during the third quarter valued at approximately $38,534,000. Franklin Resources Inc. raised its holdings in shares of Itron by 611.9% during the third quarter. Franklin Resources Inc. now owns 282,828 shares of the scientific and technical instruments company’s stock valued at $31,128,000 after acquiring an additional 243,102 shares in the last quarter. Finally, Soros Fund Management LLC lifted its stake in Itron by 38.9% in the third quarter. Soros Fund Management LLC now owns 275,000 shares of the scientific and technical instruments company’s stock worth $29,373,000 after acquiring an additional 77,050 shares during the period. 96.19% of the stock is owned by institutional investors.

Itron Stock Down 1.0 %

Shares of NASDAQ:ITRI opened at $105.49 on Wednesday. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91. The stock has a fifty day simple moving average of $103.94 and a two-hundred day simple moving average of $107.54. Itron, Inc. has a 12-month low of $86.45 and a 12-month high of $124.90. The stock has a market capitalization of $4.77 billion, a price-to-earnings ratio of 21.62, a PEG ratio of 0.81 and a beta of 1.49.

Insider Transactions at Itron

In related news, SVP Christopher E. Ware sold 648 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $92.90, for a total value of $60,199.20. Following the completion of the transaction, the senior vice president now directly owns 20,326 shares in the company, valued at $1,888,285.40. The trade was a 3.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary C. Hemmingsen sold 750 shares of the stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $107.27, for a total value of $80,452.50. Following the sale, the director now owns 5,630 shares in the company, valued at approximately $603,930.10. This represents a 11.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,037 shares of company stock valued at $385,815 in the last quarter. 1.45% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ITRI shares. Piper Sandler boosted their price objective on shares of Itron from $119.00 to $124.00 and gave the company a “neutral” rating in a research report on Thursday, February 27th. Oppenheimer boosted their price target on shares of Itron from $124.00 to $131.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Canaccord Genuity Group increased their price target on shares of Itron from $130.00 to $132.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Guggenheim cut their price objective on Itron from $135.00 to $133.00 and set a “buy” rating on the stock in a research report on Thursday, February 27th. Finally, StockNews.com lowered Itron from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 1st. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $127.64.

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.