Harvest Fund Management Co. Ltd Buys 6,205 Shares of Itron, Inc. (NASDAQ:ITRI)

Harvest Fund Management Co. Ltd boosted its holdings in Itron, Inc. (NASDAQ:ITRI - Free Report) by 6,531.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 6,300 shares of the scientific and technical instruments company's stock after buying an additional 6,205 shares during the quarter. Harvest Fund Management Co. Ltd's holdings in Itron were worth $688,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Quest Partners LLC boosted its position in shares of Itron by 35.9% in the third quarter. Quest Partners LLC now owns 9,386 shares of the scientific and technical instruments company's stock worth $1,003,000 after buying an additional 2,481 shares during the period. Jennison Associates LLC lifted its stake in Itron by 5.2% in the 3rd quarter. Jennison Associates LLC now owns 13,650 shares of the scientific and technical instruments company's stock worth $1,458,000 after acquiring an additional 673 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Itron by 67.7% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 40,742 shares of the scientific and technical instruments company's stock worth $4,352,000 after acquiring an additional 16,447 shares during the period. Intech Investment Management LLC grew its stake in Itron by 105.9% during the 3rd quarter. Intech Investment Management LLC now owns 19,444 shares of the scientific and technical instruments company's stock valued at $2,077,000 after acquiring an additional 10,001 shares in the last quarter. Finally, Banco Santander S.A. increased its holdings in shares of Itron by 4,133.3% in the 3rd quarter. Banco Santander S.A. now owns 190,500 shares of the scientific and technical instruments company's stock valued at $20,347,000 after purchasing an additional 186,000 shares during the period. 96.19% of the stock is currently owned by institutional investors and hedge funds.

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Itron Price Performance

Shares of Itron stock traded down $0.33 during mid-day trading on Tuesday, reaching $108.23. 344,560 shares of the stock were exchanged, compared to its average volume of 527,107. Itron, Inc. has a fifty-two week low of $87.91 and a fifty-two week high of $124.90. The company has a market cap of $4.93 billion, a price-to-earnings ratio of 22.18, a price-to-earnings-growth ratio of 0.81 and a beta of 1.49. The firm has a 50-day simple moving average of $104.11 and a 200 day simple moving average of $107.77. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91.

Insiders Place Their Bets

In other Itron 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 transaction 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 approximately $753,233.20. The trade was a 3.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Joan S. Hooper sold 2,322 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.90, for a total transaction of $215,713.80. Following the transaction, the chief financial officer now owns 92,076 shares in the company, valued at approximately $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. Over the last ninety days, insiders have sold 4,037 shares of company stock valued at $385,815. 1.45% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ITRI shares. Oppenheimer upped their price target on shares of Itron from $124.00 to $131.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. StockNews.com lowered Itron from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 1st. Piper Sandler lifted their price objective on Itron from $119.00 to $124.00 and gave the stock a "neutral" rating in a research note on Thursday, February 27th. Guggenheim dropped their price objective 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. Finally, Canaccord Genuity Group raised their target price on Itron from $130.00 to $132.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $127.64.

Itron 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.