Erste Asset Management GmbH Sells 15,085 Shares of Itron, Inc. (NASDAQ:ITRI)

Erste Asset Management GmbH trimmed its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 4.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 344,144 shares of the scientific and technical instruments company’s stock after selling 15,085 shares during the quarter. Erste Asset Management GmbH owned 0.76% of Itron worth $37,578,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Proficio Capital Partners LLC bought a new stake in shares of Itron during the 4th quarter valued at $30,000. Continuum Advisory LLC grew its position in Itron by 42.1% during the third quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company’s stock worth $40,000 after buying an additional 102 shares in the last quarter. Quarry LP grew its position in Itron by 29.0% during the third quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company’s stock worth $48,000 after buying an additional 102 shares in the last quarter. Covestor Ltd grew its position in Itron by 26.1% during the third quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock worth $57,000 after buying an additional 111 shares in the last quarter. Finally, Hager Investment Management Services LLC purchased a new position in Itron during the fourth quarter worth about $67,000. 96.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ITRI has been the subject of several recent analyst reports. Canaccord Genuity Group boosted their target price on Itron from $130.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Piper Sandler boosted their target price on Itron from $119.00 to $124.00 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. StockNews.com cut Itron from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 1st. Oppenheimer upped their price objective on Itron from $124.00 to $131.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Finally, Guggenheim cut their price objective on Itron from $135.00 to $133.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Itron currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.64.

Itron Trading Down 0.2 %

Shares of ITRI stock opened at $103.13 on Thursday. The stock has a market capitalization of $4.66 billion, a PE ratio of 21.13, a P/E/G ratio of 0.81 and a beta of 1.49. Itron, Inc. has a 1-year low of $86.13 and a 1-year high of $124.90. The business has a 50-day moving average of $104.38 and a 200 day moving average of $107.42. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83.

Insider Activity at Itron

In related news, CAO David Marshall Wright sold 317 shares of the stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.90, for a total transaction of $29,449.30. Following the completion of the sale, the chief accounting officer now directly owns 8,108 shares in the company, valued at $753,233.20. This represents a 3.76 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Joan S. Hooper sold 2,322 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.90, for a total value of $215,713.80. Following the sale, the chief financial officer now owns 92,076 shares of the company’s stock, valued at $8,553,860.40. This represents a 2.46 % 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 ninety days. 1.45% of the stock is owned by company insiders.

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.