Connor Clark & Lunn Investment Management Ltd. reduced its position in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 53.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,810 shares of the scientific and technical instruments company's stock after selling 21,932 shares during the period. Connor Clark & Lunn Investment Management Ltd.'s holdings in Itron were worth $2,042,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Proficio Capital Partners LLC acquired a new position in Itron during the fourth quarter valued at approximately $30,000. Continuum Advisory LLC boosted its position in Itron by 42.1% during the third 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 last quarter. Quarry LP boosted its position in Itron by 29.0% during the third quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company's stock valued at $48,000 after purchasing an additional 102 shares during the last quarter. Hager Investment Management Services LLC acquired a new position in Itron during the fourth quarter valued at approximately $67,000. Finally, Contravisory Investment Management Inc. boosted its position in 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 purchasing an additional 525 shares during the last quarter. 96.19% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several research analysts recently commented on the company. Piper Sandler increased their price target on Itron from $119.00 to $124.00 and gave the company a "neutral" rating in a research report on Thursday, February 27th. Oppenheimer upped their price objective on Itron from $124.00 to $131.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. StockNews.com lowered Itron from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 1st. Canaccord Genuity Group upped their price objective on Itron from $130.00 to $132.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Finally, Guggenheim dropped their price objective on Itron from $135.00 to $133.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, Itron presently has a consensus rating of "Moderate Buy" and a consensus target price of $127.64.
Read Our Latest Stock Analysis on Itron
Itron Stock Performance
NASDAQ:ITRI traded down $1.03 during mid-day trading on Friday, hitting $105.76. 857,147 shares of the stock were exchanged, compared to its average volume of 526,697. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 21.67, a price-to-earnings-growth ratio of 0.81 and a beta of 1.49. The firm's 50-day simple moving average is $104.00 and its 200 day simple moving average is $107.56. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36. Itron, Inc. has a fifty-two week low of $87.91 and a fifty-two week high of $124.90.
Insider Buying and Selling
In other Itron news, Director Mary C. Hemmingsen sold 750 shares of Itron 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 completion of the transaction, the director now directly owns 5,630 shares of the company's stock, valued at $603,930.10. The trade was a 11.76 % 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, CAO David Marshall Wright sold 317 shares of Itron stock in a transaction on Monday, February 24th. The shares were sold at an average price of $92.90, for a total value of $29,449.30. Following the completion of the transaction, 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 valued at $385,815. Insiders own 1.45% of the company's stock.
About Itron
(
Free Report)
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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