Sei Investments Co. Cuts Position in Itron, Inc. (NASDAQ:ITRI)

Sei Investments Co. cut its stake in Itron, Inc. (NASDAQ:ITRI - Free Report) by 9.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 143,839 shares of the scientific and technical instruments company's stock after selling 14,292 shares during the quarter. Sei Investments Co. owned approximately 0.32% of Itron worth $15,618,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Proficio Capital Partners LLC acquired a new stake in shares of Itron in the fourth quarter valued at about $30,000. Continuum Advisory LLC grew 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 acquiring an additional 102 shares in the last quarter. Quarry LP raised its holdings in Itron by 29.0% in the 3rd quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company's stock valued at $48,000 after acquiring an additional 102 shares during the last quarter. Hager Investment Management Services LLC purchased a new position in Itron in the 4th quarter worth approximately $67,000. Finally, Contravisory Investment Management Inc. boosted its holdings in shares of Itron by 154.9% during the 4th quarter. Contravisory Investment Management Inc. now owns 864 shares of the scientific and technical instruments company's stock worth $94,000 after purchasing an additional 525 shares during the last quarter. 96.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Itron

In related news, CFO Joan S. Hooper sold 2,322 shares of Itron stock in a transaction that occurred on Monday, February 24th. The shares were 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 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 SEC, which is accessible through this hyperlink. Also, SVP Christopher E. Ware sold 648 shares of the company'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 $60,199.20. Following the sale, the senior vice president now directly owns 20,326 shares in the company, valued at approximately $1,888,285.40. The trade was a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,037 shares of company stock worth $385,815. 1.45% of the stock is currently owned by company insiders.

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Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Canaccord Genuity Group lifted their price objective on Itron from $130.00 to $132.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. StockNews.com lowered shares of Itron from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 1st. Piper Sandler lifted their target price on shares of Itron from $119.00 to $124.00 and gave the stock a "neutral" rating in a research note on Thursday, February 27th. Guggenheim decreased their target price on shares of Itron from $135.00 to $133.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Finally, Oppenheimer raised their price target on shares of Itron from $124.00 to $131.00 and gave the stock an "outperform" 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. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $127.64.

Itron Trading Up 0.9 %

NASDAQ ITRI traded up $0.94 on Monday, reaching $104.76. The stock had a trading volume of 582,136 shares, compared to its average volume of 555,234. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. The stock has a fifty day moving average price of $104.21 and a two-hundred day moving average price of $108.01. Itron, Inc. has a 12-month low of $87.91 and a 12-month high of $124.90. The firm has a market capitalization of $4.77 billion, a price-to-earnings ratio of 21.47, a P/E/G ratio of 0.81 and a beta of 1.49.

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.