Charles Schwab Investment Management Inc. Decreases Position in Itron, Inc. (NASDAQ:ITRI)

Charles Schwab Investment Management Inc. trimmed its position in shares of Itron, Inc. (NASDAQ:ITRI) by 1.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 556,917 shares of the scientific and technical instruments company’s stock after selling 5,632 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 1.24% of Itron worth $60,470,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ITRI. Geode Capital Management LLC raised its holdings in shares of Itron by 0.5% in 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 acquiring an additional 5,630 shares during the last quarter. Vontobel Holding Ltd. raised its holdings in shares of Itron by 8.1% in the fourth 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 acquired a new position in shares of Itron in the third quarter worth $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 worth $30,305,000 after acquiring an additional 83,328 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings 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 acquiring an additional 243,102 shares during the last quarter. 96.19% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Christopher E. Ware sold 648 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 $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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 directly owns 92,076 shares of the company’s stock, valued at $8,553,860.40. The trade was a 2.46 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,037 shares of company stock worth $385,815 over the last three months. 1.45% of the stock is owned by insiders.

Itron Stock Performance

Shares of NASDAQ:ITRI opened at $103.13 on Thursday. The firm has a market capitalization of $4.66 billion, a PE ratio of 21.13, a P/E/G ratio of 0.81 and a beta of 1.49. 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 business has a 50-day moving average of $104.38 and a two-hundred day moving average of $107.42. Itron, Inc. has a 12 month low of $86.13 and a 12 month high of $124.90.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ITRI shares. StockNews.com cut Itron from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 1st. Oppenheimer upped 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. Canaccord Genuity Group upped their target price on Itron from $130.00 to $132.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Guggenheim dropped their target price on Itron from $135.00 to $133.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Finally, Piper Sandler upped 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. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, Itron has a consensus rating of “Moderate Buy” and a consensus price target of $127.64.

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.