Neuberger Berman Group LLC Has $43.43 Million Holdings in Itron, Inc. (NASDAQ:ITRI)

Neuberger Berman Group LLC reduced its position in Itron, Inc. (NASDAQ:ITRI - Free Report) by 2.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 399,899 shares of the scientific and technical instruments company's stock after selling 12,107 shares during the quarter. Neuberger Berman Group LLC owned about 0.89% of Itron worth $43,432,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Proficio Capital Partners LLC bought a new position in Itron in the fourth quarter valued at $30,000. Continuum Advisory LLC grew its holdings in Itron by 42.1% in the 3rd quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company's stock worth $40,000 after acquiring an additional 102 shares during the last quarter. Hager Investment Management Services LLC purchased a new position in Itron during the 4th quarter valued at about $67,000. Contravisory Investment Management Inc. lifted its stake 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 worth $94,000 after acquiring an additional 525 shares during the period. Finally, Smartleaf Asset Management LLC boosted 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 purchasing an additional 688 shares in the last quarter. 96.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Mary C. Hemmingsen sold 750 shares of Itron stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $107.27, for a total value of $80,452.50. Following the transaction, the director now owns 5,630 shares of the company's stock, valued at $603,930.10. The trade was a 11.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Christopher E. Ware sold 648 shares of the stock in a transaction on Monday, February 24th. The shares were sold at an average price of $92.90, for a total value of $60,199.20. Following the completion of the transaction, the senior vice president now owns 20,326 shares of the company's stock, valued at $1,888,285.40. This trade represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,037 shares of company stock worth $385,815. Corporate insiders own 1.45% of the company's stock.

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Itron Stock Down 1.3 %

NASDAQ:ITRI traded down $1.33 during mid-day trading on Wednesday, hitting $100.75. The company had a trading volume of 98,910 shares, compared to its average volume of 608,996. The firm has a market capitalization of $4.59 billion, a price-to-earnings ratio of 20.65, a PEG ratio of 0.81 and a beta of 1.39. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91. Itron, Inc. has a 1 year low of $88.92 and a 1 year high of $124.90. The business has a fifty day simple moving average of $102.28 and a 200-day simple moving average of $107.48.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ITRI shares. Oppenheimer lifted their price objective on Itron from $124.00 to $131.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. StockNews.com lowered Itron from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 1st. Canaccord Genuity Group boosted their price objective on Itron from $130.00 to $132.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Guggenheim dropped their price target on shares of Itron from $135.00 to $133.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Finally, Piper Sandler upped their price target 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 assigned a buy rating to the company. According to MarketBeat, Itron has an average rating of "Moderate Buy" and a consensus price target of $127.64.

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.