Edgestream Partners L.P. Decreases Position in Itron, Inc. (NASDAQ:ITRI)

Edgestream Partners L.P. lowered its stake in shares of Itron, Inc. (NASDAQ:ITRI) by 45.3% in the 4th quarter, HoldingsChannel reports. The firm owned 23,043 shares of the scientific and technical instruments company’s stock after selling 19,118 shares during the quarter. Edgestream Partners L.P.’s holdings in Itron were worth $2,502,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently modified their holdings of the company. Proficio Capital Partners LLC purchased a new stake in shares of Itron during the 4th quarter worth approximately $30,000. Continuum Advisory LLC increased its stake in shares of Itron by 42.1% during 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 increased 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 during the last quarter. Covestor Ltd increased its stake in shares of Itron by 26.1% during the 3rd quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock worth $57,000 after purchasing an additional 111 shares during the last quarter. Finally, Hager Investment Management Services LLC purchased a new stake in shares of Itron during the 4th quarter worth approximately $67,000. Hedge funds and other institutional investors own 96.19% of the company’s stock.

Itron Stock Down 0.3 %

ITRI opened at $105.82 on Monday. The company has a fifty day moving average price of $104.60 and a 200-day moving average price of $107.39. The firm has a market capitalization of $4.78 billion, a P/E ratio of 21.68, a price-to-earnings-growth ratio of 0.81 and a beta of 1.49. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83. Itron, Inc. has a one year low of $86.13 and a one year high of $124.90.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on ITRI shares. Piper Sandler raised their price target on shares of Itron from $119.00 to $124.00 and gave the stock a “neutral” rating in a research note on Thursday, February 27th. Guggenheim reduced their price objective 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. Oppenheimer lifted 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. 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. Finally, StockNews.com lowered shares of Itron from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 1st. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $127.64.

Insider Transactions at Itron

In other news, CFO Joan S. Hooper sold 2,322 shares of Itron stock in a transaction on Monday, February 24th. The shares were sold at an average price of $92.90, for a total transaction of $215,713.80. Following the completion of the sale, the chief financial officer now directly owns 92,076 shares of the company’s stock, valued at approximately $8,553,860.40. The trade was a 2.46 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Mary C. Hemmingsen sold 750 shares of Itron stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $107.27, for a total transaction of $80,452.50. Following the sale, the director now directly owns 5,630 shares of the company’s stock, valued at $603,930.10. This represents a 11.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,037 shares of company stock valued at $385,815. Insiders own 1.45% of the company’s stock.

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.