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

Proficio Capital Partners LLC purchased a new position in Itron, Inc. (NASDAQ:ITRI - Free Report) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 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.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Intech Investment Management LLC raised its position in shares of Itron by 105.9% during the 3rd quarter. Intech Investment Management LLC now owns 19,444 shares of the scientific and technical instruments company's stock worth $2,077,000 after purchasing an additional 10,001 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Itron by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,074,940 shares of the scientific and technical instruments company's stock valued at $114,835,000 after buying an additional 5,630 shares in the last quarter. Hennion & Walsh Asset Management Inc. lifted its stake in Itron by 78.3% in 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 buying an additional 2,671 shares during the last quarter. Systematic Financial Management LP raised its stake in shares of Itron by 12.2% during the 3rd quarter. Systematic Financial Management LP now owns 134,362 shares of the scientific and technical instruments company's stock worth $14,351,000 after buying an additional 14,590 shares in the last quarter. Finally, Merit Financial Group LLC acquired a new stake in shares of Itron in the 4th quarter worth approximately $301,000. 96.19% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Itron

In other Itron 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 transaction of $60,199.20. Following the transaction, the senior vice president now owns 20,326 shares of the company's stock, valued at $1,888,285.40. The trade was a 3.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO David Marshall Wright sold 317 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 $29,449.30. Following the transaction, the chief accounting officer now directly owns 8,108 shares in the company, valued at approximately $753,233.20. This trade represents a 3.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,037 shares of company stock valued at $385,815 over the last three months. Company insiders own 1.45% of the company's stock.

Itron Price Performance

ITRI opened at $103.91 on Friday. The company has a fifty day simple moving average of $104.27 and a 200 day simple moving average of $107.39. Itron, Inc. has a 12 month low of $86.13 and a 12 month high of $124.90. The stock has a market cap of $4.69 billion, a P/E ratio of 21.29, 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.

Analyst Upgrades and Downgrades

Several research firms have commented on ITRI. Guggenheim lowered their target price 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. StockNews.com downgraded shares of 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 company an "outperform" rating in a research note on Wednesday, February 26th. Piper Sandler upped their target price on Itron from $119.00 to $124.00 and gave the company a "neutral" rating in a report on Thursday, February 27th. Finally, Canaccord Genuity Group boosted their price target on Itron from $130.00 to $132.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $127.64.

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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.

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