Clearbridge Investments LLC Cuts Stock Position in Itron, Inc. (NASDAQ:ITRI)

Clearbridge Investments LLC trimmed its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 19.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 101,300 shares of the scientific and technical instruments company’s stock after selling 24,750 shares during the period. Clearbridge Investments LLC’s holdings in Itron were worth $10,999,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of ITRI. CIBC Private Wealth Group LLC raised its position in shares of Itron by 3,119.0% during the 4th quarter. CIBC Private Wealth Group LLC now owns 4,410 shares of the scientific and technical instruments company’s stock worth $471,000 after purchasing an additional 4,273 shares during the last quarter. Schroder Investment Management Group lifted its position in shares of Itron by 42.1% in the fourth quarter. Schroder Investment Management Group now owns 253,526 shares of the scientific and technical instruments company’s stock valued at $27,528,000 after acquiring an additional 75,166 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in shares of Itron by 85.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 425,484 shares of the scientific and technical instruments company’s stock worth $46,199,000 after acquiring an additional 196,396 shares during the last quarter. Pictet Asset Management Holding SA grew its holdings in shares of Itron by 24.1% during the fourth quarter. Pictet Asset Management Holding SA now owns 7,434 shares of the scientific and technical instruments company’s stock worth $807,000 after buying an additional 1,445 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new stake in shares of Itron in the fourth quarter valued at about $552,000. Institutional investors and hedge funds own 96.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ITRI shares. StockNews.com cut shares of Itron from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 1st. Oppenheimer increased 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. Piper Sandler lifted their price objective on Itron from $119.00 to $124.00 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. Guggenheim dropped 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. Finally, Canaccord Genuity Group lifted their price target on Itron from $130.00 to $132.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, Itron presently has an average rating of “Moderate Buy” and an average price target of $127.64.

Itron Trading Up 1.4 %

NASDAQ ITRI opened at $107.36 on Thursday. Itron, Inc. has a 12 month low of $88.87 and a 12 month high of $124.90. The stock 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’s 50-day moving average is $104.20 and its two-hundred day moving average is $108.07. 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 Transactions 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 transaction, the chief accounting officer now owns 8,108 shares of the company’s stock, valued at approximately $753,233.20. This represents a 3.76 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Christopher E. Ware sold 648 shares of Itron stock in a transaction dated 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 directly owns 20,326 shares of the company’s stock, valued at approximately $1,888,285.40. This represents a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,037 shares of company stock worth $385,815. 1.51% of the stock is currently owned by insiders.

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.