Zurcher Kantonalbank Zurich Cantonalbank Sells 22,866 Shares of Itron, Inc. (NASDAQ:ITRI)

Zurcher Kantonalbank Zurich Cantonalbank cut its holdings in shares of Itron, Inc. (NASDAQ:ITRI) by 12.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 164,353 shares of the scientific and technical instruments company’s stock after selling 22,866 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Itron were worth $17,845,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in ITRI. Continuum Advisory LLC boosted its stake in shares of Itron by 42.1% in the third quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company’s stock valued at $40,000 after buying an additional 102 shares during the period. Quarry LP grew its holdings in shares of Itron by 29.0% during the 3rd quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company’s stock worth $48,000 after purchasing an additional 102 shares in the last quarter. Covestor Ltd increased its position in shares of Itron by 26.1% in the third quarter. Covestor Ltd now owns 536 shares of the scientific and technical instruments company’s stock worth $57,000 after purchasing an additional 111 shares during the period. Hager Investment Management Services LLC acquired a new position in Itron in the fourth quarter valued at about $67,000. Finally, Farther Finance Advisors LLC lifted its position in Itron by 21.7% during the third quarter. Farther Finance Advisors LLC now owns 724 shares of the scientific and technical instruments company’s stock worth $77,000 after purchasing an additional 129 shares during the period. 96.19% of the stock is owned by institutional investors.

Itron Price Performance

Itron stock opened at $103.31 on Wednesday. The company has a market capitalization of $4.67 billion, a PE ratio of 21.17, a P/E/G ratio of 0.81 and a beta of 1.49. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91. The stock has a 50-day moving average price of $104.48 and a two-hundred day moving average price of $107.41. Itron, Inc. has a 12 month low of $86.13 and a 12 month high of $124.90.

Insider Activity at Itron

In other Itron news, CAO David Marshall Wright sold 317 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 transaction of $29,449.30. Following the transaction, the chief accounting officer now directly owns 8,108 shares of the company’s stock, valued at approximately $753,233.20. The trade was a 3.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Mary C. Hemmingsen sold 750 shares of the stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $107.27, for a total value of $80,452.50. Following the completion of the sale, the director now directly owns 5,630 shares of the company’s stock, valued at approximately $603,930.10. The trade was a 11.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,037 shares of company stock worth $385,815 in the last quarter. 1.45% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

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.