Vestcor Inc purchased a new stake in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 3,467 shares of the scientific and technical instruments company's stock, valued at approximately $376,000.
Several other large investors have also recently modified their holdings of ITRI. Erste Asset Management GmbH bought a new position in shares of Itron during the third quarter valued at $38,534,000. Franklin Resources Inc. raised its stake in shares of Itron by 611.9% during the third quarter. Franklin Resources Inc. now owns 282,828 shares of the scientific and technical instruments company's stock valued at $31,128,000 after acquiring an additional 243,102 shares during the last quarter. Banco Santander S.A. raised its stake in shares of Itron by 4,133.3% during the third quarter. Banco Santander S.A. now owns 190,500 shares of the scientific and technical instruments company's stock valued at $20,347,000 after acquiring an additional 186,000 shares during the last quarter. Soros Fund Management LLC raised its stake in shares of Itron by 38.9% during the third quarter. Soros Fund Management LLC now owns 275,000 shares of the scientific and technical instruments company's stock valued at $29,373,000 after acquiring an additional 77,050 shares during the last quarter. Finally, Edgestream Partners L.P. raised its stake in shares of Itron by 1,340.9% during the third quarter. Edgestream Partners L.P. now owns 42,161 shares of the scientific and technical instruments company's stock valued at $4,503,000 after acquiring an additional 39,235 shares during the last quarter. Institutional investors own 96.19% of the company's stock.
Analysts Set New Price Targets
Several research firms have recently issued reports on ITRI. Piper Sandler raised their price target on shares of Itron from $119.00 to $124.00 and gave the company a "neutral" rating in a research note on Thursday, February 27th. Oppenheimer lifted their target price on shares of Itron from $124.00 to $131.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Canaccord Genuity Group lifted their target price on shares of Itron from $130.00 to $132.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. StockNews.com downgraded shares of Itron from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 1st. Finally, Guggenheim lowered their target price on shares of Itron from $135.00 to $133.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $127.64.
View Our Latest Stock Analysis on Itron
Itron Price Performance
ITRI stock traded up $2.60 during mid-day trading on Wednesday, hitting $108.09. 187,847 shares of the stock were exchanged, compared to its average volume of 523,289. The stock has a market capitalization of $4.88 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 0.81 and a beta of 1.49. The business has a fifty day moving average price of $103.94 and a 200 day moving average price of $107.54. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83. Itron, Inc. has a 12 month low of $86.45 and a 12 month high of $124.90.
Insider Transactions at Itron
In other Itron news, CAO David Marshall Wright sold 317 shares of the business's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $92.90, for a total transaction of $29,449.30. Following the completion of the sale, the chief accounting officer now directly owns 8,108 shares in the company, 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 is accessible through this hyperlink. Also, SVP Christopher E. Ware sold 648 shares of the business's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $92.90, for a total transaction of $60,199.20. Following the sale, the senior vice president now owns 20,326 shares of the company's stock, valued at approximately $1,888,285.40. This represents a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,037 shares of company stock worth $385,815. Company insiders own 1.45% of the company's stock.
About Itron
(
Free Report)
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.
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