Proficio Capital Partners LLC Takes Position in Itron, Inc. (NASDAQ:ITRI)

Proficio Capital Partners LLC acquired a new position in Itron, Inc. (NASDAQ:ITRI) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 30,185 shares of the scientific and technical instruments company’s stock, valued at approximately $30,000.

Other large investors have also added to or reduced their stakes in the company. Continuum Advisory LLC boosted 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 acquiring an additional 102 shares during the last quarter. Quarry LP lifted its holdings in shares of Itron by 29.0% in the third quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company’s stock worth $48,000 after buying an additional 102 shares in the last quarter. Hager Investment Management Services LLC bought a new position in shares of Itron during the fourth quarter worth $67,000. Contravisory Investment Management Inc. grew its stake in Itron by 154.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 864 shares of the scientific and technical instruments company’s stock valued at $94,000 after acquiring an additional 525 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in shares of Itron by 347.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 886 shares of the scientific and technical instruments company’s stock worth $97,000 after buying an additional 688 shares in the last quarter. Institutional investors own 96.19% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ITRI. Piper Sandler boosted their price objective on Itron from $119.00 to $124.00 and gave the stock a “neutral” rating in a research note on Thursday, February 27th. Guggenheim lowered their target price on Itron from $135.00 to $133.00 and set a “buy” rating for the company in a report on Thursday, February 27th. Oppenheimer upped their price objective on Itron from $124.00 to $131.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. StockNews.com downgraded Itron from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 1st. Finally, Canaccord Genuity Group boosted their price target on Itron from $130.00 to $132.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. 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.com, the company has a consensus rating of “Moderate Buy” and an average target price of $127.64.

Itron Stock Down 1.3 %

ITRI opened at $103.82 on Friday. The company has a market cap of $4.73 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 0.81 and a beta of 1.49. Itron, Inc. has a twelve month low of $87.91 and a twelve month high of $124.90. The company has a 50-day moving average price of $104.21 and a 200 day moving average price of $107.88. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91.

Insiders Place Their Bets

In other news, SVP Christopher E. Ware sold 648 shares of the stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $92.90, for a total value of $60,199.20. Following the completion of the sale, the senior vice president now owns 20,326 shares of the company’s stock, valued at $1,888,285.40. This represents a 3.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Joan S. Hooper sold 2,322 shares of the company’s stock in a transaction on Monday, February 24th. The shares were sold at an average price of $92.90, for a total value of $215,713.80. Following the completion of the transaction, the chief financial officer now directly owns 92,076 shares in the company, valued at approximately $8,553,860.40. This trade represents a 2.46 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 4,037 shares of company stock worth $385,815. Corporate 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.