Clearbridge Investments LLC Has $11 Million Stock Holdings in Itron, Inc. (NASDAQ:ITRI)

Clearbridge Investments LLC lessened its stake in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 19.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 101,300 shares of the scientific and technical instruments company's stock after selling 24,750 shares during the period. Clearbridge Investments LLC owned about 0.22% of Itron worth $10,999,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC increased its position in shares of Itron by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,074,940 shares of the scientific and technical instruments company's stock worth $114,835,000 after purchasing an additional 5,630 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in Itron by 78.3% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 6,083 shares of the scientific and technical instruments company's stock worth $660,000 after buying an additional 2,671 shares during the last quarter. Intech Investment Management LLC raised its position in Itron by 112.7% during the fourth quarter. Intech Investment Management LLC now owns 41,363 shares of the scientific and technical instruments company's stock worth $4,491,000 after acquiring an additional 21,919 shares in the last quarter. Systematic Financial Management LP lifted its stake in Itron by 12.2% in the third quarter. Systematic Financial Management LP now owns 134,362 shares of the scientific and technical instruments company's stock valued at $14,351,000 after acquiring an additional 14,590 shares during the last quarter. Finally, Merit Financial Group LLC acquired a new stake in Itron in the fourth quarter valued at $301,000. Institutional investors own 96.19% of the company's stock.

Remove Ads

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ITRI shares. Piper Sandler upped their target price on shares of Itron from $119.00 to $124.00 and gave the company a "neutral" rating in a report on Thursday, February 27th. StockNews.com lowered Itron from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 1st. Guggenheim reduced their target price on Itron from $135.00 to $133.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Oppenheimer increased their price target on Itron from $124.00 to $131.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Finally, Canaccord Genuity Group raised their price target on Itron from $130.00 to $132.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $127.64.

Itron Stock Performance

Shares of Itron stock traded down $0.41 during trading on Monday, reaching $94.38. The company's stock had a trading volume of 890,083 shares, compared to its average volume of 560,119. Itron, Inc. has a 52 week low of $88.87 and a 52 week high of $124.90. The firm has a market cap of $4.30 billion, a PE ratio of 19.34, a P/E/G ratio of 0.81 and a beta of 1.39. The business's 50-day moving average price is $103.59 and its 200-day moving average price is $107.94. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91.

Insider Buying and Selling at Itron

In other Itron news, CFO Joan S. Hooper sold 2,322 shares of Itron stock in a transaction on Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $215,713.80. Following the completion of the transaction, the chief financial officer now directly owns 92,076 shares of the company's stock, valued at $8,553,860.40. The trade was a 2.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary C. Hemmingsen sold 750 shares of the stock in a transaction 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 sale, the director now directly owns 5,630 shares in the company, valued at approximately $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. Insiders sold 4,037 shares of company stock valued at $385,815 in the last quarter. Company insiders own 1.45% of the company's stock.

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.