Corebridge Financial Inc. Cuts Stock Position in Itron, Inc. (NASDAQ:ITRI)

Corebridge Financial Inc. cut its holdings in shares of Itron, Inc. (NASDAQ:ITRI) by 8.6% in the 4th quarter, HoldingsChannel reports. The firm owned 24,051 shares of the scientific and technical instruments company’s stock after selling 2,275 shares during the quarter. Corebridge Financial Inc.’s holdings in Itron were worth $2,611,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in 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 during the last quarter. Hennion & Walsh Asset Management Inc. increased its stake in shares of 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 during the last quarter. Intech Investment Management LLC raised its holdings in shares of Itron by 112.7% in the 4th quarter. Intech Investment Management LLC now owns 41,363 shares of the scientific and technical instruments company’s stock worth $4,491,000 after purchasing an additional 21,919 shares during the period. Systematic Financial Management LP lifted its stake 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 purchasing an additional 14,590 shares during the last quarter. Finally, Merit Financial Group LLC bought a new position in Itron during the fourth quarter valued at $301,000. 96.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on ITRI. Oppenheimer boosted their target price on Itron from $124.00 to $131.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Guggenheim dropped their price objective on shares of Itron from $135.00 to $133.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Piper Sandler lifted their target price on shares of Itron from $119.00 to $124.00 and gave the stock a “neutral” rating in a research note on Thursday, February 27th. Canaccord Genuity Group upped their price target 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. Finally, StockNews.com lowered shares of Itron from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 1st. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $127.64.

Itron Trading Up 0.9 %

Shares of ITRI stock opened at $104.76 on Tuesday. The company has a market capitalization of $4.77 billion, a PE ratio of 21.47, a price-to-earnings-growth ratio of 0.81 and a beta of 1.49. Itron, Inc. has a 52-week low of $87.91 and a 52-week high of $124.90. The business’s fifty day moving average is $104.20 and its 200 day moving average is $108.05. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36.

Insiders Place Their Bets

In related news, Director Mary C. Hemmingsen sold 750 shares of the stock in a transaction 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 transaction, the director now owns 5,630 shares of the company’s stock, valued at $603,930.10. This represents a 11.76 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Christopher E. Ware sold 648 shares of Itron stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $60,199.20. Following the sale, the senior vice president now directly owns 20,326 shares of the company’s stock, valued at approximately $1,888,285.40. This trade represents a 3.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,037 shares of company stock worth $385,815 in the last ninety days. 1.45% of the stock is currently owned by insiders.

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.