CANADA LIFE ASSURANCE Co Reduces Stock Holdings in Itron, Inc. (NASDAQ:ITRI)

CANADA LIFE ASSURANCE Co lessened its stake in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 12.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 57,685 shares of the scientific and technical instruments company's stock after selling 8,511 shares during the period. CANADA LIFE ASSURANCE Co owned approximately 0.13% of Itron worth $6,262,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ITRI. Norges Bank purchased a new stake in shares of Itron in the fourth quarter valued at $64,615,000. Vontobel Holding Ltd. raised its position in Itron by 8.1% in the 4th quarter. Vontobel Holding Ltd. now owns 464,787 shares of the scientific and technical instruments company's stock worth $50,467,000 after purchasing an additional 34,842 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in Itron by 85.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 425,484 shares of the scientific and technical instruments company's stock worth $46,199,000 after purchasing an additional 196,396 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Itron by 3.1% during the fourth quarter. Renaissance Technologies LLC now owns 350,461 shares of the scientific and technical instruments company's stock valued at $38,053,000 after buying an additional 10,400 shares during the period. Finally, Franklin Resources Inc. boosted its position in shares of Itron by 22.8% during the fourth quarter. Franklin Resources Inc. now owns 347,203 shares of the scientific and technical instruments company's stock valued at $37,699,000 after buying an additional 64,375 shares during the period. 96.19% of the stock is currently owned by institutional investors.

Itron Stock Performance

Shares of ITRI opened at $104.11 on Wednesday. Itron, Inc. has a 12 month low of $90.03 and a 12 month high of $124.90. The stock has a fifty day moving average price of $102.44 and a 200-day moving average price of $107.39. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91. The firm has a market cap of $4.74 billion, a PE ratio of 21.33, a P/E/G ratio of 0.81 and a beta of 1.39.

Wall Street Analysts Forecast Growth

ITRI has been the subject of a number of recent analyst reports. Piper Sandler boosted their price objective on Itron from $119.00 to $124.00 and gave the company a "neutral" rating in a report on Thursday, February 27th. StockNews.com lowered shares of Itron from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 1st. Oppenheimer raised 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. Canaccord Genuity Group upped 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. Finally, Guggenheim reaffirmed a "buy" rating and set a $133.00 target price on shares of Itron in a research report on Thursday, April 17th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $127.64.

Insider Buying and Selling at Itron

In other Itron news, SVP Christopher E. Ware sold 648 shares of the firm's stock in a transaction on Monday, February 24th. The shares were 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 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Mary C. Hemmingsen sold 750 shares of the business's stock in a transaction 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 sale, the director now directly owns 5,630 shares in the company, valued at $603,930.10. This trade represents a 11.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,037 shares of company stock worth $385,815. 1.51% of the stock is owned by insiders.

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.

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