Commonwealth Equity Services LLC Reduces Holdings in Itron, Inc. (NASDAQ:ITRI)

Commonwealth Equity Services LLC reduced its position in Itron, Inc. (NASDAQ:ITRI) by 1.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,923 shares of the scientific and technical instruments company’s stock after selling 188 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Itron were worth $1,186,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its position 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 valued at $114,835,000 after buying an additional 5,630 shares during the last quarter. Vontobel Holding Ltd. grew its stake in Itron by 8.1% during the 4th quarter. Vontobel Holding Ltd. now owns 464,787 shares of the scientific and technical instruments company’s stock valued at $50,467,000 after acquiring an additional 34,842 shares in the last quarter. Franklin Resources Inc. raised its holdings in Itron by 611.9% in the 3rd 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 during the last quarter. 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 worth $29,373,000 after purchasing an additional 77,050 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Itron by 6.4% during the 4th quarter. Principal Financial Group Inc. now owns 263,972 shares of the scientific and technical instruments company’s stock worth $28,662,000 after purchasing an additional 15,895 shares during the last quarter. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Itron Trading Up 0.9 %

NASDAQ ITRI opened at $104.76 on Tuesday. Itron, Inc. has a 12 month low of $87.91 and a 12 month high of $124.90. The stock has a market capitalization of $4.77 billion, a P/E ratio of 21.47, a PEG ratio of 0.81 and a beta of 1.49. The firm’s 50-day moving average is $104.20 and its two-hundred day moving average is $108.05. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83.

Analyst Ratings Changes

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

Insider Transactions at Itron

In other Itron news, SVP Christopher E. Ware sold 648 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 $60,199.20. Following the completion of the transaction, the senior vice president now directly owns 20,326 shares of the company’s stock, valued at $1,888,285.40. The trade was a 3.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO David Marshall Wright sold 317 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.90, for a total transaction of $29,449.30. Following the sale, the chief accounting officer now directly owns 8,108 shares in the company, valued at $753,233.20. This represents a 3.76 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,037 shares of company stock worth $385,815. 1.45% of the stock is currently owned by insiders.

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.