Itron, Inc. (NASDAQ:ITRI) Shares Sold by Zacks Investment Management

Zacks Investment Management lowered its stake in Itron, Inc. (NASDAQ:ITRI - Free Report) by 14.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 159,197 shares of the scientific and technical instruments company's stock after selling 25,980 shares during the period. Zacks Investment Management owned 0.35% of Itron worth $17,286,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ITRI. Proficio Capital Partners LLC bought a new stake in shares of Itron during the fourth quarter valued at approximately $30,000. Hager Investment Management Services LLC purchased a new position in Itron during the fourth quarter valued at $67,000. 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 valued at $94,000 after buying an additional 525 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in shares of Itron by 347.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 886 shares of the scientific and technical instruments company's stock worth $97,000 after acquiring an additional 688 shares in the last quarter. Finally, GAMMA Investing LLC lifted its position in Itron by 15.6% during the 4th quarter. GAMMA Investing LLC now owns 1,177 shares of the scientific and technical instruments company's stock valued at $128,000 after acquiring an additional 159 shares during the period. 96.19% of the stock is owned by hedge funds and other institutional investors.

Itron Stock Up 3.0 %

ITRI stock traded up $3.03 on Tuesday, hitting $104.51. 359,614 shares of the company's stock were exchanged, compared to its average volume of 570,018. The firm has a 50 day moving average price of $102.33 and a two-hundred day moving average price of $107.42. Itron, Inc. has a 12-month low of $89.66 and a 12-month high of $124.90. The stock has a market cap of $4.76 billion, a P/E ratio of 21.48, a price-to-earnings-growth ratio of 0.81 and a beta of 1.39. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36.

Insider Transactions at Itron

In other news, SVP Christopher E. Ware sold 648 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 transaction of $60,199.20. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Joan S. Hooper sold 2,322 shares of Itron stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $215,713.80. Following the sale, the chief financial officer now directly owns 92,076 shares of the company's stock, valued at approximately $8,553,860.40. This represents a 2.46 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,037 shares of company stock worth $385,815. Insiders own 1.45% of the company's stock.

Analysts Set New Price Targets

ITRI has been the subject of a number of analyst reports. StockNews.com lowered Itron from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 1st. Oppenheimer raised their target price on shares of Itron from $124.00 to $131.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Guggenheim restated a "buy" rating and set a $133.00 price target on shares of Itron in a research note on Thursday, April 17th. Canaccord Genuity Group boosted their target price on shares of Itron from $130.00 to $132.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Finally, Piper Sandler boosted their target price on shares of Itron from $119.00 to $124.00 and gave the stock a "neutral" rating in a report on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, Itron currently has an average rating of "Moderate Buy" and an average target price of $127.64.

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.