Itron, Inc. (NASDAQ:ITRI) Shares Sold by Sei Investments Co.

Sei Investments Co. cut its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 9.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 143,839 shares of the scientific and technical instruments company’s stock after selling 14,292 shares during the quarter. Sei Investments Co. owned approximately 0.32% of Itron worth $15,618,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ITRI. Cerity Partners LLC acquired a new position in Itron during the 3rd quarter worth approximately $454,000. Daiwa Securities Group Inc. increased its holdings in Itron by 69.2% in the third quarter. Daiwa Securities Group Inc. now owns 2,200 shares of the scientific and technical instruments company’s stock valued at $235,000 after buying an additional 900 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Itron by 2.2% in the third quarter. The Manufacturers Life Insurance Company now owns 26,231 shares of the scientific and technical instruments company’s stock valued at $2,802,000 after buying an additional 571 shares in the last quarter. Glenmede Trust Co. NA lifted its holdings in Itron by 2.2% during the 3rd quarter. Glenmede Trust Co. NA now owns 6,220 shares of the scientific and technical instruments company’s stock worth $664,000 after buying an additional 134 shares during the last quarter. Finally, Blueshift Asset Management LLC acquired a new position in shares of Itron during the 3rd quarter worth about $448,000. 96.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on ITRI. Guggenheim decreased their target price on Itron from $135.00 to $133.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Piper Sandler upped their target price on shares of Itron from $119.00 to $124.00 and gave the company a “neutral” rating in a report on Thursday, February 27th. Canaccord Genuity Group lifted their price target 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 upped their price objective 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. Finally, StockNews.com cut Itron from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 1st. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $127.64.

Insider Buying and Selling at Itron

In other Itron news, CAO David Marshall Wright sold 317 shares of Itron 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 sale, the chief accounting officer now owns 8,108 shares of the company’s stock, valued at approximately $753,233.20. The trade was a 3.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joan S. Hooper sold 2,322 shares of the 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 $215,713.80. Following the transaction, the chief financial officer now directly owns 92,076 shares of the company’s stock, valued at approximately $8,553,860.40. This trade represents a 2.46 % 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 valued at $385,815. 1.45% of the stock is owned by company insiders.

Itron Trading Down 1.3 %

NASDAQ:ITRI opened at $103.82 on Friday. Itron, Inc. has a 12-month low of $87.91 and a 12-month 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’s 50 day simple moving average is $104.21 and its 200-day simple moving average is $107.88. The firm has a market cap of $4.73 billion, a P/E ratio of 21.27, a PEG ratio of 0.81 and a beta of 1.49.

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.