Proficio Capital Partners LLC Purchases New Holdings in Itron, Inc. (NASDAQ:ITRI)

Proficio Capital Partners LLC bought a new position in shares of Itron, Inc. (NASDAQ:ITRI) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 30,185 shares of the scientific and technical instruments company’s stock, valued at approximately $30,000. Proficio Capital Partners LLC owned 0.07% of Itron as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Geode Capital Management LLC grew its stake in shares of Itron by 0.5% during the 3rd 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 in the last quarter. Hennion & Walsh Asset Management Inc. raised its holdings in Itron by 78.3% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 6,083 shares of the scientific and technical instruments company’s stock valued at $660,000 after acquiring an additional 2,671 shares during the period. Systematic Financial Management LP lifted its position in Itron by 12.2% during the third quarter. Systematic Financial Management LP now owns 134,362 shares of the scientific and technical instruments company’s stock worth $14,351,000 after acquiring an additional 14,590 shares during the last quarter. Merit Financial Group LLC bought a new stake in Itron in the 4th quarter valued at $301,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Itron in the third quarter valued at about $671,000. Institutional investors and hedge funds own 96.19% of the company’s stock.

Insider Buying and Selling

In related news, SVP Christopher E. Ware sold 648 shares of the company’s stock in a transaction on 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 $1,888,285.40. This represents a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Mary C. Hemmingsen sold 750 shares of the stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $107.27, for a total transaction of $80,452.50. Following the completion of the transaction, the director now 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. Insiders sold 4,037 shares of company stock valued at $385,815 over the last quarter. 1.45% of the stock is owned by company insiders.

Itron Trading Down 1.3 %

NASDAQ ITRI opened at $103.82 on Friday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36. Itron, Inc. has a fifty-two week low of $87.91 and a fifty-two week high of $124.90. The stock has a market cap of $4.73 billion, a P/E ratio of 21.27, a price-to-earnings-growth ratio of 0.81 and a beta of 1.49. The stock has a 50 day simple moving average of $104.21 and a two-hundred day simple moving average of $107.88.

Wall Street Analysts Forecast Growth

ITRI has been the subject of a number of recent research reports. Piper Sandler boosted their price objective on shares of Itron from $119.00 to $124.00 and gave the company a “neutral” rating in a report on Thursday, February 27th. StockNews.com cut Itron from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 1st. Canaccord Genuity Group lifted 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. Oppenheimer increased their price objective on Itron from $124.00 to $131.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Finally, Guggenheim reduced their target price on Itron from $135.00 to $133.00 and set a “buy” rating on the stock in a report on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Itron has an average 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.