Itron, Inc. (NASDAQ:ITRI) Stock Position Reduced by IQ EQ FUND MANAGEMENT IRELAND Ltd

IQ EQ FUND MANAGEMENT IRELAND Ltd decreased its stake in Itron, Inc. (NASDAQ:ITRI) by 60.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,886 shares of the scientific and technical instruments company’s stock after selling 11,844 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Itron were worth $856,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Proficio Capital Partners LLC purchased a new stake in shares of Itron during the fourth quarter worth $30,000. Continuum Advisory LLC increased its position in Itron by 42.1% in the 3rd quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company’s stock worth $40,000 after purchasing an additional 102 shares during the last quarter. Quarry LP raised its stake in shares of Itron by 29.0% during the 3rd quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company’s stock worth $48,000 after purchasing an additional 102 shares in the last quarter. Hager Investment Management Services LLC acquired a new stake in shares of Itron during the 4th quarter valued at about $67,000. Finally, Contravisory Investment Management Inc. grew its stake in shares of Itron by 154.9% in the 4th quarter. Contravisory Investment Management Inc. now owns 864 shares of the scientific and technical instruments company’s stock valued at $94,000 after buying an additional 525 shares in the last quarter. Institutional investors and hedge funds own 96.19% of the company’s stock.

Insider Transactions at Itron

In other 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 sale, the senior vice president now directly owns 20,326 shares in the company, valued at approximately $1,888,285.40. The trade was a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO David Marshall Wright sold 317 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 8,108 shares of the company’s stock, valued at approximately $753,233.20. This trade represents a 3.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,037 shares of company stock worth $385,815. 1.45% of the stock is currently owned by company insiders.

Itron Trading Down 2.0 %

Shares of ITRI stock opened at $105.24 on Friday. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91. Itron, Inc. has a 1 year low of $87.91 and a 1 year high of $124.90. The firm’s fifty day simple moving average is $104.24 and its 200 day simple moving average is $107.83. The firm has a market capitalization of $4.80 billion, a P/E ratio of 21.57, a price-to-earnings-growth ratio of 0.81 and a beta of 1.49.

Wall Street Analysts Forecast Growth

ITRI has been the subject of a number of analyst reports. Guggenheim reduced 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. Canaccord Genuity Group lifted their price objective 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 increased their target price on shares of 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 research report on Saturday, March 1st. Finally, Oppenheimer increased their price objective on Itron from $124.00 to $131.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $127.64.

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.