CIBC Private Wealth Group LLC raised its holdings in Itron, Inc. (NASDAQ:ITRI - Free Report) by 3,119.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,410 shares of the scientific and technical instruments company's stock after acquiring an additional 4,273 shares during the period. CIBC Private Wealth Group LLC's holdings in Itron were worth $471,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ITRI. Proficio Capital Partners LLC acquired a new position in shares of Itron during the fourth quarter worth about $30,000. Continuum Advisory LLC raised its stake in Itron by 42.1% in the third 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 increased its stake in shares of Itron by 29.0% during the third quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company's stock worth $48,000 after purchasing an additional 102 shares during the period. Hager Investment Management Services LLC bought a new position in shares of Itron during the fourth quarter worth approximately $67,000. Finally, Contravisory Investment Management Inc. grew its position in 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 buying an additional 525 shares in the last quarter. 96.19% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages recently issued reports on ITRI. StockNews.com downgraded Itron from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 1st. Guggenheim reduced their target price on Itron from $135.00 to $133.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Oppenheimer raised their target price on Itron from $124.00 to $131.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. Canaccord Genuity Group raised their price objective on Itron from $130.00 to $132.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Finally, Piper Sandler raised their price objective on Itron from $119.00 to $124.00 and gave the company a "neutral" rating in a report on Thursday, February 27th. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Itron presently has a consensus rating of "Moderate Buy" and an average target price of $127.64.
Get Our Latest Stock Analysis on ITRI
Itron Trading Down 2.8 %
Shares of ITRI stock traded down $2.80 during mid-day trading on Thursday, hitting $96.73. The company's stock had a trading volume of 50,184 shares, compared to its average volume of 563,393. The company's fifty day simple moving average is $102.73 and its 200-day simple moving average is $107.61. Itron, Inc. has a 52 week low of $88.87 and a 52 week 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. The company has a market cap of $4.41 billion, a PE ratio of 19.96, a P/E/G ratio of 0.81 and a beta of 1.39.
Insider Transactions at Itron
In related news, CAO David Marshall Wright sold 317 shares of the business's stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.90, for a total value 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 filing with the SEC, which is available at the SEC website. Also, SVP Christopher E. Ware sold 648 shares of the business's stock in a transaction dated Monday, February 24th. The shares were 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 directly owns 20,326 shares of the company's stock, valued at $1,888,285.40. The trade was a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,037 shares of company stock valued at $385,815. Corporate insiders own 1.45% of the company's stock.
About Itron
(
Free Report)
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.
See Also
Before you consider Itron, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Itron wasn't on the list.
While Itron currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven best retirement stocks and why they should be in your portfolio.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
