Bowen Hanes & Co. Inc. Takes $27.49 Million Position in Itron, Inc. (NASDAQ:ITRI)

Bowen Hanes & Co. Inc. bought a new position in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 253,140 shares of the scientific and technical instruments company's stock, valued at approximately $27,486,000. Bowen Hanes & Co. Inc. owned 0.56% of Itron at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Geode Capital Management LLC grew its holdings in Itron by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 1,074,940 shares of the scientific and technical instruments company's stock worth $114,835,000 after acquiring an additional 5,630 shares during the period. Vontobel Holding Ltd. boosted its position in shares of Itron by 8.1% during the 4th quarter. Vontobel Holding Ltd. now owns 464,787 shares of the scientific and technical instruments company's stock valued at $50,467,000 after purchasing an additional 34,842 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in Itron during the third quarter worth approximately $38,534,000. Victory Capital Management Inc. increased its holdings in Itron by 41.6% in the third quarter. Victory Capital Management Inc. now owns 283,728 shares of the scientific and technical instruments company's stock worth $30,305,000 after purchasing an additional 83,328 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in Itron by 611.9% in 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 buying an additional 243,102 shares during the period. Institutional investors own 96.19% of the company's stock.

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Insider Activity at Itron

In other news, SVP Christopher E. Ware sold 648 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 $60,199.20. Following the completion of the sale, the senior vice president now owns 20,326 shares in the company, valued at $1,888,285.40. This trade represents a 3.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mary C. Hemmingsen sold 750 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $107.27, for a total value of $80,452.50. Following the completion of the transaction, the director now owns 5,630 shares in the company, valued at approximately $603,930.10. The trade was a 11.76 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,037 shares of company stock valued at $385,815. 1.45% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on ITRI. Oppenheimer raised their price objective 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. 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. Canaccord Genuity Group boosted their target price on Itron from $130.00 to $132.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. StockNews.com lowered 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 on the stock in a report on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $127.64.

Itron Stock Performance

Shares of Itron stock traded up $1.98 during mid-day trading on Monday, hitting $106.55. 554,539 shares of the stock were exchanged, compared to its average volume of 524,279. Itron, Inc. has a 12 month low of $86.45 and a 12 month high of $124.90. The company has a 50-day simple moving average of $104.06 and a 200 day simple moving average of $107.48. The company has a market capitalization of $4.81 billion, a P/E ratio of 21.83, a P/E/G ratio of 0.81 and a beta of 1.49. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36.

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.