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

Sequoia Financial Advisors LLC grew its stake in Itron, Inc. (NASDAQ:ITRI) by 5.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,394 shares of the scientific and technical instruments company’s stock after acquiring an additional 1,268 shares during the quarter. Sequoia Financial Advisors LLC owned 0.06% of Itron worth $2,757,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Intech Investment Management LLC increased its stake in Itron by 105.9% during the 3rd quarter. Intech Investment Management LLC now owns 19,444 shares of the scientific and technical instruments company’s stock worth $2,077,000 after purchasing an additional 10,001 shares in the last quarter. Geode Capital Management LLC increased its stake in Itron by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,074,940 shares of the scientific and technical instruments company’s stock worth $114,835,000 after purchasing an additional 5,630 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in Itron by 78.3% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 6,083 shares of the scientific and technical instruments company’s stock worth $660,000 after purchasing an additional 2,671 shares in the last quarter. Systematic Financial Management LP increased its stake in Itron by 12.2% during the 3rd quarter. Systematic Financial Management LP now owns 134,362 shares of the scientific and technical instruments company’s stock worth $14,351,000 after purchasing an additional 14,590 shares in the last quarter. Finally, Merit Financial Group LLC bought a new stake in Itron during the 4th quarter worth approximately $301,000. 96.19% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Oppenheimer increased their target price on Itron from $124.00 to $131.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Guggenheim reduced their price target on Itron from $135.00 to $133.00 and set a “buy” rating for the company in a research report on Thursday, February 27th. Piper Sandler upped their price target on Itron from $119.00 to $124.00 and gave the stock a “neutral” rating in a research report on Thursday, February 27th. Canaccord Genuity Group upped their price target on Itron from $130.00 to $132.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Finally, StockNews.com downgraded Itron from a “strong-buy” rating to a “buy” rating in a 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $127.64.

Insider Transactions at Itron

In other news, 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 completion of the sale, the director now owns 5,630 shares of the company’s stock, valued at approximately $603,930.10. This trade represents a 11.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Joan S. Hooper sold 2,322 shares of Itron stock in a transaction 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 sale, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,037 shares of company stock valued at $385,815. 1.45% of the stock is currently owned by corporate insiders.

Itron Trading Up 0.6 %

ITRI stock opened at $104.57 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83. The company has a fifty day moving average price of $104.18 and a two-hundred day moving average price of $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 cap of $4.72 billion, a price-to-earnings ratio of 21.43, a price-to-earnings-growth ratio of 0.81 and a beta of 1.49.

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.