Sequoia Financial Advisors LLC Acquires 1,268 Shares of Itron, Inc. (NASDAQ:ITRI)

Sequoia Financial Advisors LLC raised its holdings in Itron, Inc. (NASDAQ:ITRI) by 5.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,394 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,268 shares during the period. Sequoia Financial Advisors LLC’s holdings in Itron were worth $2,757,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Intech Investment Management LLC grew its position in Itron by 105.9% in the third quarter. Intech Investment Management LLC now owns 19,444 shares of the scientific and technical instruments company’s stock valued at $2,077,000 after acquiring an additional 10,001 shares during the last quarter. Geode Capital Management LLC grew its position in Itron by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,074,940 shares of the scientific and technical instruments company’s stock valued at $114,835,000 after acquiring an additional 5,630 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its position in Itron by 78.3% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 6,083 shares of the scientific and technical instruments company’s stock valued at $660,000 after acquiring an additional 2,671 shares during the last quarter. Systematic Financial Management LP grew its position in Itron by 12.2% in the third quarter. Systematic Financial Management LP now owns 134,362 shares of the scientific and technical instruments company’s stock valued at $14,351,000 after acquiring an additional 14,590 shares during the last quarter. Finally, Merit Financial Group LLC bought a new position in Itron in the fourth quarter valued at about $301,000. Institutional investors own 96.19% of the company’s stock.

Itron Stock Performance

Shares of ITRI stock opened at $104.57 on Friday. The business’s 50 day simple moving average is $104.18 and its 200 day simple moving average is $107.37. Itron, Inc. has a one year low of $86.13 and a one year high of $124.90. The stock has a market capitalization of $4.72 billion, a PE ratio of 21.43, a PEG 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.

Insider Activity at Itron

In other news, CFO Joan S. Hooper sold 2,322 shares of the company’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 $215,713.80. Following the transaction, the chief financial officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO David Marshall Wright sold 317 shares of the company’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 value of $29,449.30. Following the transaction, the chief accounting officer now directly owns 8,108 shares in the company, valued at $753,233.20. The trade was a 3.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,037 shares of company stock worth $385,815 over the last ninety days. Insiders own 1.45% of the company’s stock.

Wall Street Analyst Weigh In

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

Itron Company 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.