Proficio Capital Partners LLC Takes $30,000 Position in Itron, Inc. (NASDAQ:ITRI)

Proficio Capital Partners LLC bought a new position in Itron, Inc. (NASDAQ:ITRI - Free Report) in the 4th quarter, according to its most recent disclosure with the SEC. The firm bought 30,185 shares of the scientific and technical instruments company's stock, valued at approximately $30,000. Proficio Capital Partners LLC owned 0.07% of Itron at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Geode Capital Management LLC lifted its holdings in Itron by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,074,940 shares of the scientific and technical instruments company's stock worth $114,835,000 after buying an additional 5,630 shares during the period. Hennion & Walsh Asset Management Inc. boosted its position in shares of Itron by 78.3% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 6,083 shares of the scientific and technical instruments company's stock valued at $660,000 after purchasing an additional 2,671 shares in the last quarter. Systematic Financial Management LP boosted its position in shares of Itron by 12.2% during the third quarter. Systematic Financial Management LP now owns 134,362 shares of the scientific and technical instruments company's stock valued at $14,351,000 after purchasing an additional 14,590 shares in the last quarter. Merit Financial Group LLC purchased a new stake in Itron in the fourth quarter worth $301,000. Finally, Point72 Asset Management L.P. purchased a new position in Itron during the third quarter valued at $671,000. Institutional investors own 96.19% of the company's stock.

Analyst Upgrades and Downgrades

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

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Itron Stock Performance

Shares of NASDAQ ITRI traded up $1.44 during midday trading on Wednesday, hitting $107.36. 400,889 shares of the stock traded hands, compared to its average volume of 555,359. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36. Itron, Inc. has a one year low of $88.87 and a one year high of $124.90. The firm has a market capitalization of $4.89 billion, a P/E ratio of 22.00, a PEG ratio of 0.81 and a beta of 1.39. The firm has a 50-day moving average of $104.20 and a two-hundred day moving average of $108.07.

Insider Buying and Selling at Itron

In other news, CFO Joan S. Hooper sold 2,322 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 $215,713.80. Following the transaction, the chief financial officer now owns 92,076 shares in the company, valued at $8,553,860.40. This trade represents a 2.46 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Mary C. Hemmingsen sold 750 shares of the firm's stock in a transaction 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 completion of the transaction, the director now directly owns 5,630 shares in the company, valued at approximately $603,930.10. This represents a 11.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,037 shares of company stock worth $385,815 in the last three months. 1.51% of the stock is currently owned by company insiders.

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.