Cramer Rosenthal Mcglynn LLC Reduces Stock Holdings in Itron, Inc. (NASDAQ:ITRI)

Cramer Rosenthal Mcglynn LLC reduced its position in Itron, Inc. (NASDAQ:ITRI - Free Report) by 30.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 172,729 shares of the scientific and technical instruments company's stock after selling 75,278 shares during the quarter. Cramer Rosenthal Mcglynn LLC owned 0.38% of Itron worth $18,755,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in Itron in the 4th quarter worth approximately $64,615,000. Vontobel Holding Ltd. grew its position in shares of 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 buying an additional 34,842 shares during the period. Arrowstreet Capital Limited Partnership lifted its position in Itron by 85.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 425,484 shares of the scientific and technical instruments company's stock valued at $46,199,000 after acquiring an additional 196,396 shares during the period. Renaissance Technologies LLC boosted its stake in 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 worth $38,053,000 after acquiring an additional 10,400 shares in the last quarter. Finally, Franklin Resources Inc. increased its stake 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 purchasing an additional 64,375 shares in the last quarter. 96.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. Guggenheim reaffirmed a "buy" rating and set a $133.00 price objective on shares of Itron in a research report on Thursday. Canaccord Genuity Group increased their price objective on shares of Itron from $130.00 to $132.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. Piper Sandler boosted their price objective on shares of Itron from $119.00 to $124.00 and gave the stock a "neutral" rating in a report on Thursday, February 27th. Oppenheimer upped their target price on shares of Itron from $124.00 to $131.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Finally, StockNews.com downgraded Itron from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 1st. Three investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $127.64.

Insider Activity

In related news, CFO Joan S. Hooper sold 2,322 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 $215,713.80. Following the completion of the sale, the chief financial officer now directly owns 92,076 shares in the company, valued at approximately $8,553,860.40. The trade was a 2.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Mary C. Hemmingsen sold 750 shares of the firm's 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 sale, the director now directly owns 5,630 shares of the company's stock, 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 90 days, insiders have sold 4,037 shares of company stock valued at $385,815. 1.45% of the stock is currently owned by insiders.

Itron Price Performance

Shares of NASDAQ ITRI traded down $1.78 during mid-day trading on Monday, reaching $101.48. The company's stock had a trading volume of 352,984 shares, compared to its average volume of 570,819. The firm has a market capitalization of $4.62 billion, a PE ratio of 20.80, a P/E/G ratio of 0.81 and a beta of 1.39. The stock has a fifty day moving average of $102.33 and a two-hundred day moving average of $107.42. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83. Itron, Inc. has a 52 week low of $89.66 and a 52 week high of $124.90.

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.