Arrowstreet Capital Limited Partnership Has $46.20 Million Holdings in Itron, Inc. (NASDAQ:ITRI)

Arrowstreet Capital Limited Partnership lifted its holdings in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 85.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 425,484 shares of the scientific and technical instruments company's stock after buying an additional 196,396 shares during the period. Arrowstreet Capital Limited Partnership owned approximately 0.94% of Itron worth $46,199,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Proficio Capital Partners LLC acquired a new position in Itron during the 4th quarter worth $30,000. Continuum Advisory LLC grew its position 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 buying an additional 102 shares in the last quarter. Quarry LP increased its stake in Itron by 29.0% during the 3rd quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company's stock valued at $48,000 after buying an additional 102 shares during the period. Hager Investment Management Services LLC acquired a new position in Itron during the 4th quarter valued at about $67,000. Finally, Contravisory Investment Management Inc. raised its position in shares of Itron by 154.9% during the 4th quarter. Contravisory Investment Management Inc. now owns 864 shares of the scientific and technical instruments company's stock worth $94,000 after buying an additional 525 shares in the last quarter. 96.19% of the stock is owned by institutional investors.

Remove Ads

Analysts Set New Price Targets

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

Insider Buying and Selling at Itron

In related news, CFO Joan S. Hooper sold 2,322 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 transaction of $215,713.80. Following the completion of the sale, the chief financial officer now directly owns 92,076 shares in the company, valued at approximately $8,553,860.40. This trade represents a 2.46 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO David Marshall Wright sold 317 shares of the business'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 transaction of $29,449.30. Following the transaction, the chief accounting officer now directly owns 8,108 shares in the company, valued at $753,233.20. The trade was a 3.76 % 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 three months. 1.51% of the stock is currently owned by company insiders.

Itron Trading Down 6.0 %

Shares of ITRI traded down $6.05 during midday trading on Friday, hitting $94.79. The stock had a trading volume of 905,076 shares, compared to its average volume of 558,798. Itron, Inc. has a fifty-two week low of $88.87 and a fifty-two week high of $124.90. The business has a 50-day simple moving average of $103.81 and a two-hundred day simple moving average of $108.02. 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 firm has a market cap of $4.32 billion, a P/E ratio of 19.42, a price-to-earnings-growth ratio of 0.81 and a beta of 1.39.

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.