Banco Santander S.A. Acquires 7,500 Shares of Itron, Inc. (NASDAQ:ITRI)

Banco Santander S.A. grew its holdings in Itron, Inc. (NASDAQ:ITRI - Free Report) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 198,000 shares of the scientific and technical instruments company's stock after purchasing an additional 7,500 shares during the period. Banco Santander S.A. owned approximately 0.44% of Itron worth $21,499,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Proficio Capital Partners LLC purchased a new position in Itron during the fourth quarter valued at approximately $30,000. Continuum Advisory LLC boosted its stake in shares of Itron by 42.1% during 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 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 valued at $48,000 after acquiring an additional 102 shares in the last quarter. Covestor Ltd increased its stake 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 acquiring an additional 111 shares during the last quarter. Finally, Hager Investment Management Services LLC purchased a new stake in shares of Itron during the fourth quarter worth $67,000. Hedge funds and other institutional investors own 96.19% of the company's stock.

Insider Activity at Itron

In other news, Director Mary C. Hemmingsen sold 750 shares of the company's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $107.27, for a total transaction of $80,452.50. Following the completion of the transaction, the director now owns 5,630 shares of the company's stock, valued at approximately $603,930.10. This represents a 11.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Christopher E. Ware sold 648 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 value of $60,199.20. Following the sale, the senior vice president now directly owns 20,326 shares in the company, valued at approximately $1,888,285.40. This trade represents a 3.09 % decrease in their ownership of the stock. 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 ninety days. 1.45% of the stock is currently owned by insiders.

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Wall Street Analyst Weigh In

Several brokerages have weighed in on ITRI. Piper Sandler upped their target price on 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. Oppenheimer boosted their target price on shares of Itron from $124.00 to $131.00 and gave the stock 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 company a "buy" rating in a report on Wednesday, February 26th. Finally, Guggenheim reduced their price objective 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 investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Itron presently has a consensus rating of "Moderate Buy" and a consensus price target of $127.64.

Itron Stock Performance

NASDAQ ITRI traded down $0.18 during trading on Wednesday, hitting $103.13. The company's stock had a trading volume of 433,627 shares, compared to its average volume of 526,618. Itron, Inc. has a 52 week low of $86.13 and a 52 week high of $124.90. The firm has a market cap of $4.66 billion, a P/E ratio of 21.13, a price-to-earnings-growth ratio of 0.81 and a beta of 1.49. The firm has a 50 day moving average price of $104.38 and a 200 day moving average price of $107.42. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91.

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.