Victory Capital Management Inc. Has $21.63 Million Stock Holdings in Itron, Inc. (NASDAQ:ITRI)

Victory Capital Management Inc. reduced its stake in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 29.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 199,216 shares of the scientific and technical instruments company's stock after selling 84,512 shares during the quarter. Victory Capital Management Inc. owned 0.44% of Itron worth $21,631,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Geode Capital Management LLC lifted its stake in Itron by 0.5% during 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 purchasing an additional 5,630 shares during the last quarter. Vontobel Holding Ltd. lifted its position in shares of Itron by 8.1% during the 4th quarter. Vontobel Holding Ltd. now owns 464,787 shares of the scientific and technical instruments company's stock worth $50,467,000 after buying an additional 34,842 shares during the last quarter. Erste Asset Management GmbH acquired a new stake in Itron in the third quarter valued at about $38,534,000. Franklin Resources Inc. grew its position in Itron by 611.9% in the third quarter. Franklin Resources Inc. now owns 282,828 shares of the scientific and technical instruments company's stock valued at $31,128,000 after acquiring an additional 243,102 shares during the last quarter. Finally, Soros Fund Management LLC raised its stake in Itron by 38.9% during the third quarter. Soros Fund Management LLC now owns 275,000 shares of the scientific and technical instruments company's stock worth $29,373,000 after acquiring an additional 77,050 shares in the last quarter. Institutional investors and hedge funds own 96.19% of the company's stock.

Wall Street Analysts Forecast Growth

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

Remove Ads

Insider Buying and Selling at Itron

In related news, SVP Christopher E. Ware sold 648 shares of the company's stock in a transaction dated Monday, February 24th. The stock was 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 in the company, valued at $1,888,285.40. This represents a 3.09 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mary C. Hemmingsen sold 750 shares of Itron 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 completion of the sale, the director now 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. In the last 90 days, insiders sold 4,037 shares of company stock valued at $385,815. 1.45% of the stock is currently owned by company insiders.

Itron Trading Down 0.4 %

Shares of ITRI stock opened at $103.31 on Wednesday. Itron, Inc. has a 1-year low of $86.13 and a 1-year high of $124.90. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91. The stock has a market cap of $4.67 billion, a price-to-earnings ratio of 21.17, a PEG ratio of 0.81 and a beta of 1.49. The stock has a 50-day moving average of $104.48 and a 200-day moving average of $107.41.

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.

Want to see what other hedge funds are holding ITRI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Itron, Inc. (NASDAQ:ITRI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.