NEOS Investment Management LLC Takes $554,000 Position in Itron, Inc. (NASDAQ:ITRI)

NEOS Investment Management LLC purchased a new position in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 5,100 shares of the scientific and technical instruments company's stock, valued at approximately $554,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Proficio Capital Partners LLC acquired a new stake in shares of Itron during the 4th quarter worth about $30,000. Continuum Advisory LLC raised its holdings in Itron by 42.1% in the 3rd quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company's stock valued at $40,000 after acquiring an additional 102 shares during the period. Quarry LP raised its holdings in Itron by 29.0% in the 3rd quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company's stock valued at $48,000 after acquiring an additional 102 shares during the period. Hager Investment Management Services LLC acquired a new stake in Itron during the fourth quarter worth approximately $67,000. Finally, Contravisory Investment Management Inc. boosted its holdings in shares of Itron by 154.9% during the fourth quarter. Contravisory Investment Management Inc. now owns 864 shares of the scientific and technical instruments company's stock worth $94,000 after acquiring an additional 525 shares during the period. Institutional investors own 96.19% of the company's stock.

Wall Street Analysts Forecast Growth

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

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Itron Price Performance

Shares of Itron stock traded down $6.05 during midday trading on Friday, hitting $94.79. 905,076 shares of the company traded hands, compared to its average volume of 558,170. The firm's fifty day moving average price is $103.81 and its 200-day moving average price is $107.96. The stock has a market cap of $4.32 billion, a price-to-earnings ratio of 19.42, a PEG ratio of 0.81 and a beta of 1.39. Itron, Inc. has a 12 month low of $88.87 and a 12 month high of $124.90. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36.

Insider Activity at Itron

In related news, CAO David Marshall Wright sold 317 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $92.90, for a total value of $29,449.30. Following the completion of the transaction, the chief accounting officer now owns 8,108 shares in the company, valued at $753,233.20. This trade represents a 3.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Joan S. Hooper sold 2,322 shares of the business's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $92.90, for a total transaction of $215,713.80. Following the sale, the chief financial officer now directly owns 92,076 shares in the company, valued at $8,553,860.40. The trade was a 2.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 4,037 shares of company stock valued at $385,815 in the last 90 days. 1.51% of the stock is owned by corporate insiders.

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.