Itron, Inc. (NASDAQ:ITRI) Stake Lowered by Geode Capital Management LLC

Geode Capital Management LLC decreased its stake in Itron, Inc. (NASDAQ:ITRI) by 1.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,063,172 shares of the scientific and technical instruments company’s stock after selling 11,768 shares during the period. Geode Capital Management LLC owned 2.36% of Itron worth $115,465,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ITRI. Proficio Capital Partners LLC acquired a new position in shares of Itron during the fourth quarter valued at $30,000. Continuum Advisory LLC boosted its stake in Itron by 42.1% during the 3rd quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company’s stock valued at $40,000 after purchasing an additional 102 shares during the period. Quarry LP grew its position in Itron by 29.0% in the 3rd quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company’s stock worth $48,000 after purchasing an additional 102 shares during the last quarter. Hager Investment Management Services LLC acquired a new stake in shares of Itron in the fourth quarter valued at approximately $67,000. Finally, Contravisory Investment Management Inc. raised its holdings in shares of Itron by 154.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 864 shares of the scientific and technical instruments company’s stock valued at $94,000 after buying an additional 525 shares during the last quarter. Institutional investors and hedge funds own 96.19% of the company’s stock.

Insiders Place Their Bets

In related news, Director Mary C. Hemmingsen sold 750 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $107.27, for a total value of $80,452.50. Following the completion of the sale, the director now owns 5,630 shares of the company’s stock, valued at approximately $603,930.10. The trade was a 11.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO David Marshall Wright sold 317 shares of the business’s stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $92.90, for a total transaction of $29,449.30. Following the completion of the sale, the chief accounting officer now directly owns 8,108 shares of the company’s stock, valued at $753,233.20. This represents a 3.76 % decrease in their ownership of the stock. 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

Itron stock opened at $92.04 on Wednesday. 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 cap of $4.19 billion, a P/E ratio of 18.86, a price-to-earnings-growth ratio of 0.81 and a beta of 1.39. Itron, Inc. has a fifty-two week low of $88.87 and a fifty-two week high of $124.90. The firm’s 50 day simple moving average is $103.04 and its 200-day simple moving average is $107.72.

Analyst Upgrades and Downgrades

Several analysts recently commented on ITRI shares. Canaccord Genuity Group raised their target price on Itron from $130.00 to $132.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. StockNews.com downgraded shares of Itron from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 1st. Piper Sandler raised their target price on shares of Itron from $119.00 to $124.00 and gave the company a “neutral” rating in a research note on Thursday, February 27th. Oppenheimer upped their price target on shares of Itron from $124.00 to $131.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Finally, Guggenheim dropped their target price on Itron from $135.00 to $133.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Itron currently has an average rating of “Moderate Buy” and an average 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.