Zurcher Kantonalbank Zurich Cantonalbank Has $17.85 Million Holdings in Itron, Inc. (NASDAQ:ITRI)

Zurcher Kantonalbank Zurich Cantonalbank lessened its position in shares of Itron, Inc. (NASDAQ:ITRI) by 12.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 164,353 shares of the scientific and technical instruments company’s stock after selling 22,866 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.36% of Itron worth $17,845,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Geode Capital Management LLC grew its holdings in shares of Itron by 0.5% during the third 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 buying an additional 5,630 shares in the last quarter. Vontobel Holding Ltd. boosted its position in Itron by 8.1% during the 4th quarter. Vontobel Holding Ltd. now owns 464,787 shares of the scientific and technical instruments company’s stock worth $50,467,000 after acquiring an additional 34,842 shares during the last quarter. Erste Asset Management GmbH bought a new position in shares of Itron during the 3rd quarter worth approximately $38,534,000. Victory Capital Management Inc. raised its holdings in shares of Itron by 41.6% in the third quarter. Victory Capital Management Inc. now owns 283,728 shares of the scientific and technical instruments company’s stock valued at $30,305,000 after purchasing an additional 83,328 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Itron by 611.9% in the third quarter. Franklin Resources Inc. now owns 282,828 shares of the scientific and technical instruments company’s stock worth $31,128,000 after purchasing an additional 243,102 shares in the last quarter. Institutional investors and hedge funds own 96.19% of the company’s stock.

Itron Trading Down 0.4 %

ITRI stock opened at $103.31 on Wednesday. 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 $4.67 billion, a price-to-earnings ratio of 21.17, a price-to-earnings-growth ratio of 0.81 and a beta of 1.49. The company has a fifty day moving average price of $104.48 and a two-hundred day moving average price of $107.41. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Piper Sandler raised their target price on shares of Itron from $119.00 to $124.00 and gave the company a “neutral” rating in a research report on Thursday, February 27th. StockNews.com downgraded Itron from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 1st. Oppenheimer increased their price target on Itron from $124.00 to $131.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Canaccord Genuity Group boosted 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, Guggenheim cut their price objective on Itron from $135.00 to $133.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the 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 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 $215,713.80. Following the transaction, the chief financial officer now owns 92,076 shares of the company’s stock, valued at approximately $8,553,860.40. This represents a 2.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary C. Hemmingsen sold 750 shares of Itron stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $107.27, for a total value of $80,452.50. Following the sale, the director now directly owns 5,630 shares of the company’s stock, valued at approximately $603,930.10. The trade was a 11.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,037 shares of company stock worth $385,815. 1.45% of the stock is owned by insiders.

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.