Itron, Inc. (NASDAQ:ITRI) Stock Holdings Lowered by Zacks Investment Management

Zacks Investment Management trimmed its position in shares of Itron, Inc. (NASDAQ:ITRI) by 14.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 159,197 shares of the scientific and technical instruments company’s stock after selling 25,980 shares during the period. Zacks Investment Management’s holdings in Itron were worth $17,286,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. NewEdge Advisors LLC bought a new position in Itron in the 4th quarter valued at about $229,000. Mariner LLC lifted its stake in shares of Itron by 6.3% in the 4th quarter. Mariner LLC now owns 3,448 shares of the scientific and technical instruments company’s stock worth $374,000 after acquiring an additional 204 shares during the period. Summit Investment Advisors Inc. increased its stake in shares of Itron by 3.1% during the fourth quarter. Summit Investment Advisors Inc. now owns 4,726 shares of the scientific and technical instruments company’s stock valued at $513,000 after acquiring an additional 140 shares during the period. Optimize Financial Inc bought a new stake in Itron during the fourth quarter worth approximately $1,857,000. Finally, Capital Fund Management S.A. lifted its position in Itron by 41.4% in the fourth quarter. Capital Fund Management S.A. now owns 52,954 shares of the scientific and technical instruments company’s stock worth $5,750,000 after purchasing an additional 15,515 shares during the period. Institutional investors and hedge funds own 96.19% of the company’s stock.

Insiders Place Their Bets

In other news, Director Mary C. Hemmingsen sold 750 shares of the company’s 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 transaction, the director now directly owns 5,630 shares of the company’s stock, valued at approximately $603,930.10. This represents a 11.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO David Marshall Wright sold 317 shares of Itron stock in a transaction on Monday, February 24th. The shares were 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 approximately $753,233.20. The trade was a 3.76 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,037 shares of company stock worth $385,815. 1.45% of the stock is currently owned by company insiders.

Itron Stock Performance

Shares of Itron stock opened at $101.65 on Thursday. The stock has a market cap of $4.63 billion, a PE ratio of 20.83, a price-to-earnings-growth ratio of 0.81 and a beta of 1.39. Itron, Inc. has a 12 month low of $88.92 and a 12 month high of $124.90. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. The business has a fifty day simple moving average of $102.21 and a 200-day simple moving average of $107.44.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Canaccord Genuity Group boosted their price objective on 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 target on shares of Itron from $135.00 to $133.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Piper Sandler lifted their price objective on shares of Itron from $119.00 to $124.00 and gave the stock a “neutral” rating in a research note on Thursday, February 27th. Oppenheimer increased their target price on shares of Itron from $124.00 to $131.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Finally, StockNews.com lowered shares of Itron from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 1st. Three equities 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $127.64.

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.