Itron, Inc. (NASDAQ:ITRI) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. reduced its holdings in Itron, Inc. (NASDAQ:ITRI) by 1.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,891,866 shares of the scientific and technical instruments company’s stock after selling 71,421 shares during the period. Vanguard Group Inc. owned about 13.07% of Itron worth $639,739,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Geode Capital Management LLC grew its stake in Itron by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,074,940 shares of the scientific and technical instruments company’s stock valued at $114,835,000 after acquiring an additional 5,630 shares during the period. Vontobel Holding Ltd. grew its position in shares of Itron by 8.1% in the fourth quarter. Vontobel Holding Ltd. now owns 464,787 shares of the scientific and technical instruments company’s stock valued at $50,467,000 after purchasing an additional 34,842 shares during the period. Erste Asset Management GmbH purchased a new stake in shares of Itron during the third quarter worth about $38,534,000. Franklin Resources Inc. raised its position 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 purchasing an additional 243,102 shares during the last quarter. Finally, Soros Fund Management LLC lifted its stake in 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 valued at $29,373,000 after buying an additional 77,050 shares in the last quarter. 96.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Itron

In related news, SVP Christopher E. Ware sold 648 shares of the firm’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 directly owns 20,326 shares of the company’s stock, valued at approximately $1,888,285.40. This trade represents 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 hyperlink. Also, Director Mary C. Hemmingsen sold 750 shares of the company’s stock in a transaction dated 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 directly 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 sold 4,037 shares of company stock worth $385,815 in the last 90 days. Insiders own 1.45% of the company’s stock.

Itron Price Performance

Shares of ITRI stock opened at $103.82 on Monday. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83. The company has a market capitalization of $4.73 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 0.81 and a beta of 1.49. The firm’s 50-day moving average is $104.21 and its two-hundred day moving average is $108.01. Itron, Inc. has a 12 month low of $87.91 and a 12 month high of $124.90.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Piper Sandler boosted their price objective on Itron from $119.00 to $124.00 and gave the stock a “neutral” rating in a research note on Thursday, February 27th. Guggenheim reduced their price objective on Itron from $135.00 to $133.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Canaccord Genuity Group raised their price objective on Itron from $130.00 to $132.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. 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 report on Wednesday, February 26th. Finally, StockNews.com downgraded shares of Itron from a “strong-buy” rating to a “buy” rating in a research note 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. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $127.64.

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.