IQ EQ FUND MANAGEMENT IRELAND Ltd Reduces Stake in Itron, Inc. (NASDAQ:ITRI)

IQ EQ FUND MANAGEMENT IRELAND Ltd reduced its position in Itron, Inc. (NASDAQ:ITRI - Free Report) by 60.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,886 shares of the scientific and technical instruments company's stock after selling 11,844 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd's holdings in Itron were worth $856,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Proficio Capital Partners LLC acquired a new position in Itron during the 4th quarter valued at about $30,000. Continuum Advisory LLC increased its holdings in shares of 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 acquiring an additional 102 shares in the last quarter. Quarry LP raised its position in shares of 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 purchasing an additional 102 shares during the last quarter. Hager Investment Management Services LLC acquired a new stake in Itron in the 4th quarter worth approximately $67,000. Finally, Contravisory Investment Management Inc. grew its position in 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. Hedge funds and other institutional investors own 96.19% of the company's stock.

Insider Buying and Selling at Itron

In other news, SVP Christopher E. Ware sold 648 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 value 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 $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 Securities & Exchange Commission, which is available through this link. Also, Director Mary C. Hemmingsen sold 750 shares of the company's stock in a transaction that occurred 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 transaction, the director now directly owns 5,630 shares of the company's stock, valued at approximately $603,930.10. The trade was a 11.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 4,037 shares of company stock valued at $385,815. Corporate insiders own 1.45% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Piper Sandler boosted their price objective 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 report on Saturday, March 1st. Canaccord Genuity Group lifted their target price on Itron from $130.00 to $132.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Guggenheim dropped their target price on Itron from $135.00 to $133.00 and set a "buy" rating on the stock in a research 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 research report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $127.64.

Itron Stock Performance

Shares of NASDAQ:ITRI traded up $0.76 during trading on Tuesday, hitting $105.52. 79,311 shares of the stock traded hands, compared to its average volume of 553,367. The company has a fifty day moving average price of $104.20 and a two-hundred day moving average price of $108.05. Itron, Inc. has a 52-week low of $87.91 and a 52-week high of $124.90. The company has a market cap of $4.81 billion, a price-to-earnings ratio of 21.65, a P/E/G ratio of 0.81 and a beta of 1.49. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91.

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.