Loomis Sayles & Co. L P Cuts Position in Itron, Inc. (NASDAQ:ITRI)

Loomis Sayles & Co. L P trimmed its holdings in shares of Itron, Inc. (NASDAQ:ITRI) by 13.4% in the 4th quarter, Holdings Channel.com reports. The firm owned 471,026 shares of the scientific and technical instruments company’s stock after selling 72,859 shares during the period. Loomis Sayles & Co. L P’s holdings in Itron were worth $51,144,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the stock. Cerity Partners LLC purchased a new stake in Itron during the 3rd quarter valued at about $454,000. Daiwa Securities Group Inc. lifted its stake in shares of 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 worth $235,000 after buying an additional 900 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Itron by 2.2% during 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 during the last quarter. Freedom Investment Management Inc. increased its position in shares of Itron by 2.7% during the third quarter. Freedom Investment Management Inc. now owns 12,649 shares of the scientific and technical instruments company’s stock valued at $1,351,000 after acquiring an additional 337 shares in the last quarter. Finally, Glenmede Trust Co. NA raised its holdings in Itron by 2.2% in 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 acquiring an additional 134 shares during the last quarter. 96.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have commented on the company. Piper Sandler increased their target price on Itron from $119.00 to $124.00 and gave the company a “neutral” rating in a research note on Thursday, February 27th. StockNews.com downgraded Itron from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 1st. Canaccord Genuity Group upped their target price 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. Guggenheim reduced their price target 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. Finally, Oppenheimer boosted their price objective on shares of Itron from $124.00 to $131.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $127.64.

Insider Transactions at Itron

In other Itron news, CFO Joan S. Hooper sold 2,322 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $215,713.80. Following the completion of the sale, the chief financial officer now owns 92,076 shares in the company, valued at $8,553,860.40. This represents a 2.46 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO David Marshall Wright sold 317 shares of the firm’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $29,449.30. Following the completion of the transaction, the chief accounting officer now directly owns 8,108 shares in the company, valued at $753,233.20. This trade represents a 3.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,037 shares of company stock worth $385,815 in the last three months. Corporate insiders own 1.45% of the company’s stock.

Itron Stock Down 2.0 %

Shares of ITRI stock opened at $105.24 on Friday. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91. Itron, Inc. has a 12 month low of $87.91 and a 12 month high of $124.90. The stock has a market cap of $4.80 billion, a P/E ratio of 21.57, a P/E/G ratio of 0.81 and a beta of 1.49. The company has a 50 day simple moving average of $104.24 and a two-hundred day simple moving average of $107.83.

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.