Legal & General Group Plc Cuts Stock Position in Itron, Inc. (NASDAQ:ITRI)

Legal & General Group Plc lowered its position in Itron, Inc. (NASDAQ:ITRI - Free Report) by 2.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 218,595 shares of the scientific and technical instruments company's stock after selling 4,716 shares during the period. Legal & General Group Plc owned approximately 0.48% of Itron worth $23,735,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Proficio Capital Partners LLC purchased a new stake in shares of Itron in the 4th quarter valued at $30,000. Hager Investment Management Services LLC acquired a new position in Itron during the fourth quarter valued at $67,000. Contravisory Investment Management Inc. boosted its holdings in Itron by 154.9% in 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. Smartleaf Asset Management LLC raised its stake in shares of Itron by 347.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 886 shares of the scientific and technical instruments company's stock valued at $97,000 after buying an additional 688 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of Itron by 15.6% in 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 buying an additional 159 shares during the period. Institutional investors and hedge funds own 96.19% of the company's stock.

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Itron Trading Down 0.4 %

Shares of ITRI traded down $0.43 during midday trading on Wednesday, reaching $101.65. The company had a trading volume of 454,977 shares, compared to its average volume of 568,523. 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 firm has a 50 day simple moving average of $102.21 and a 200-day simple moving average of $107.44. Itron, Inc. has a 1-year low of $88.87 and a 1-year high of $124.90. The stock has a market cap of $4.63 billion, a PE ratio of 20.83, a price-to-earnings-growth ratio of 0.81 and a beta of 1.39.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ITRI. Guggenheim cut their price objective on shares of Itron from $135.00 to $133.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Canaccord Genuity Group upped their price objective on shares of Itron from $130.00 to $132.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Oppenheimer lifted their target price on shares of Itron from $124.00 to $131.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. StockNews.com downgraded shares of Itron from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 1st. Finally, Piper Sandler lifted their price objective on Itron from $119.00 to $124.00 and gave the stock a "neutral" rating in a report on Thursday, February 27th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Itron currently has an average rating of "Moderate Buy" and a consensus target price of $127.64.

Insider Transactions at Itron

In other Itron news, Director Mary C. Hemmingsen sold 750 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $107.27, for a total transaction of $80,452.50. Following the completion of the transaction, the director now 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Christopher E. Ware sold 648 shares of Itron stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.90, for a total transaction of $60,199.20. Following the sale, the senior vice president now owns 20,326 shares of the company's stock, valued at approximately $1,888,285.40. This represents a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,037 shares of company stock worth $385,815 in the last 90 days. Insiders own 1.45% of the company's stock.

Itron Company 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.