Cibc World Markets Corp Buys Shares of 4,227 Itron, Inc. (NASDAQ:ITRI)

Cibc World Markets Corp purchased a new stake in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 4,227 shares of the scientific and technical instruments company's stock, valued at approximately $459,000.

Other large investors have also made changes to their positions in the company. Jennison Associates LLC lifted its holdings in shares of Itron by 5.2% in the third quarter. Jennison Associates LLC now owns 13,650 shares of the scientific and technical instruments company's stock worth $1,458,000 after buying an additional 673 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its stake in Itron by 67.7% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 40,742 shares of the scientific and technical instruments company's stock worth $4,352,000 after purchasing an additional 16,447 shares in the last quarter. Intech Investment Management LLC grew its position in shares of Itron by 105.9% during the third quarter. Intech Investment Management LLC now owns 19,444 shares of the scientific and technical instruments company's stock valued at $2,077,000 after purchasing an additional 10,001 shares in the last quarter. Cerity Partners LLC purchased a new position in shares of Itron during the third quarter valued at about $454,000. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Itron by 69.2% in the third quarter. Daiwa Securities Group Inc. now owns 2,200 shares of the scientific and technical instruments company's stock worth $235,000 after purchasing an additional 900 shares during the last quarter. 96.19% of the stock is currently owned by hedge funds and other institutional investors.

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Insider Activity at Itron

In other Itron news, CAO David Marshall Wright sold 317 shares of Itron stock in a transaction on Monday, February 24th. The stock was 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 of the company's stock, valued at $753,233.20. The trade was a 3.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 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 disclosure for this sale can be found here. Insiders sold 4,037 shares of company stock worth $385,815 in the last 90 days. 1.45% of the stock is owned by corporate insiders.

Itron Trading Down 2.0 %

ITRI stock traded down $2.12 during midday trading on Thursday, reaching $105.24. The company's stock had a trading volume of 276,547 shares, compared to its average volume of 526,794. Itron, Inc. has a 1 year low of $87.91 and a 1 year high of $124.90. The firm has a market capitalization of $4.80 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 0.81 and a beta of 1.49. The stock has a fifty day simple moving average of $104.23 and a two-hundred day simple moving average of $107.85. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Oppenheimer increased their price target on Itron from $124.00 to $131.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Guggenheim cut their target price on shares of Itron from $135.00 to $133.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Piper Sandler boosted their price target on shares of Itron from $119.00 to $124.00 and gave the stock a "neutral" rating in a research report on Thursday, February 27th. StockNews.com lowered shares of Itron from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 1st. Finally, Canaccord Genuity Group boosted their target price on shares of Itron from $130.00 to $132.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $127.64.

About Itron

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.