Itron, Inc. (NASDAQ:ITRI) Shares Sold by Sei Investments Co.

Sei Investments Co. trimmed its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 9.0% in the fourth quarter, Holdings Channel.com reports. The fund owned 143,839 shares of the scientific and technical instruments company’s stock after selling 14,292 shares during the period. Sei Investments Co.’s holdings in Itron were worth $15,618,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Erste Asset Management GmbH acquired a new position in Itron during the third quarter worth $38,534,000. Bowen Hanes & Co. Inc. acquired a new position in shares of Itron during the 4th quarter worth $27,486,000. Franklin Resources Inc. raised its stake in shares of Itron by 611.9% during the 3rd quarter. Franklin Resources Inc. now owns 282,828 shares of the scientific and technical instruments company’s stock worth $31,128,000 after buying an additional 243,102 shares during the last quarter. Soros Fund Management LLC boosted its position in shares of Itron by 38.9% in the 3rd quarter. Soros Fund Management LLC now owns 275,000 shares of the scientific and technical instruments company’s stock worth $29,373,000 after buying an additional 77,050 shares in the last quarter. Finally, Edgestream Partners L.P. grew its stake in Itron by 1,340.9% in the 3rd quarter. Edgestream Partners L.P. now owns 42,161 shares of the scientific and technical instruments company’s stock valued at $4,503,000 after acquiring an additional 39,235 shares during the last quarter. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Christopher E. Ware sold 648 shares of the business’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.90, for a total transaction of $60,199.20. Following the completion of the sale, the senior vice president now owns 20,326 shares in the company, valued at approximately $1,888,285.40. The trade was a 3.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary C. Hemmingsen sold 750 shares of the firm’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $107.27, for a total transaction of $80,452.50. Following the completion of the transaction, the director now owns 5,630 shares in the company, valued at $603,930.10. The trade was a 11.76 % 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 valued at $385,815 over the last quarter. Company insiders own 1.45% of the company’s stock.

Analyst Ratings Changes

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

Itron Price Performance

ITRI opened at $103.82 on Friday. Itron, Inc. has a 1 year low of $87.91 and a 1 year high of $124.90. The company’s 50 day simple moving average is $104.21 and its 200 day simple moving average is $107.88. The stock has a market capitalization of $4.73 billion, a PE ratio of 21.27, a P/E/G ratio of 0.81 and a beta of 1.49. 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 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.