Cramer Rosenthal Mcglynn LLC Cuts Stake in Itron, Inc. (NASDAQ:ITRI)

Cramer Rosenthal Mcglynn LLC reduced its position in shares of Itron, Inc. (NASDAQ:ITRI) by 30.4% in the fourth quarter, Holdings Channel reports. The firm owned 172,729 shares of the scientific and technical instruments company’s stock after selling 75,278 shares during the quarter. Cramer Rosenthal Mcglynn LLC’s holdings in Itron were worth $18,755,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Proficio Capital Partners LLC purchased a new position in Itron in the 4th quarter worth approximately $30,000. Hager Investment Management Services LLC purchased a new stake in Itron during the 4th quarter valued at $67,000. Contravisory Investment Management Inc. increased its holdings in shares of Itron by 154.9% in the 4th quarter. Contravisory Investment Management Inc. now owns 864 shares of the scientific and technical instruments company’s stock worth $94,000 after purchasing an additional 525 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Itron by 347.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 886 shares of the scientific and technical instruments company’s stock worth $97,000 after purchasing an additional 688 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Itron by 15.6% during the fourth quarter. GAMMA Investing LLC now owns 1,177 shares of the scientific and technical instruments company’s stock valued at $128,000 after purchasing an additional 159 shares in the last quarter. 96.19% of the stock is owned by hedge funds and other institutional investors.

Itron Stock Up 1.6 %

NASDAQ:ITRI opened at $103.26 on Friday. The company’s 50-day simple moving average is $102.21 and its 200-day simple moving average is $107.44. 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 fifty-two week low of $88.92 and a fifty-two week high of $124.90. The stock has a market capitalization of $4.71 billion, a P/E ratio of 21.16, a P/E/G ratio of 0.81 and a beta of 1.39.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ITRI. Oppenheimer boosted their price objective on shares of Itron from $124.00 to $131.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Guggenheim reissued a “buy” rating and set a $133.00 price target on shares of Itron in a report on Thursday. Canaccord Genuity Group raised their price target on Itron from $130.00 to $132.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Piper Sandler upped their price objective on Itron from $119.00 to $124.00 and gave the company a “neutral” rating in a research report on Thursday, February 27th. Finally, StockNews.com cut 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 issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $127.64.

Insider Activity

In related news, SVP Christopher E. Ware sold 648 shares of the firm’s stock in a transaction on Monday, February 24th. The stock was 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 owns 20,326 shares in the company, valued at $1,888,285.40. This trade represents a 3.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO David Marshall Wright sold 317 shares of Itron stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $29,449.30. Following the sale, the chief accounting officer now directly owns 8,108 shares of the company’s stock, valued at $753,233.20. This trade represents a 3.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,037 shares of company stock worth $385,815 over the last 90 days. 1.45% of the stock is currently owned by corporate insiders.

Itron 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.