Itron, Inc. (NASDAQ:ITRI) Shares Acquired by HighTower Advisors LLC

HighTower Advisors LLC boosted its holdings in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 143.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,355 shares of the scientific and technical instruments company's stock after acquiring an additional 4,331 shares during the period. HighTower Advisors LLC's holdings in Itron were worth $799,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of ITRI. Erste Asset Management GmbH acquired a new position in shares of Itron during the 3rd quarter worth approximately $38,534,000. Franklin Resources Inc. raised its holdings in shares of 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 worth $31,128,000 after acquiring an additional 243,102 shares during the last quarter. Soros Fund Management LLC lifted its position in shares of Itron by 38.9% in the third quarter. Soros Fund Management LLC now owns 275,000 shares of the scientific and technical instruments company's stock valued at $29,373,000 after acquiring an additional 77,050 shares in the last quarter. Edgestream Partners L.P. boosted its stake in shares of Itron by 1,340.9% during the third quarter. Edgestream Partners L.P. now owns 42,161 shares of the scientific and technical instruments company's stock valued at $4,503,000 after acquiring an additional 39,235 shares during the last quarter. Finally, Vontobel Holding Ltd. increased its position in 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 worth $50,467,000 after purchasing an additional 34,842 shares in the last quarter. Hedge funds and other institutional investors own 96.19% of the company's stock.

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Insider Activity

In related news, SVP Christopher E. Ware sold 648 shares of the 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 completion of the transaction, the senior vice president now owns 20,326 shares of the company's stock, valued at approximately $1,888,285.40. This represents a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO David Marshall Wright sold 317 shares of Itron stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $29,449.30. Following the sale, the chief accounting officer now owns 8,108 shares in the company, valued at $753,233.20. This represents a 3.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 4,037 shares of company stock worth $385,815. 1.45% of the stock is currently owned by company insiders.

Itron Stock Up 0.9 %

Shares of NASDAQ ITRI traded up $0.94 on Monday, hitting $104.76. The company had a trading volume of 582,136 shares, compared to its average volume of 555,234. 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, Inc. has a 12-month low of $87.91 and a 12-month high of $124.90. The firm has a market capitalization of $4.77 billion, a P/E ratio of 21.47, a PEG ratio of 0.81 and a beta of 1.49. The business has a 50 day moving average of $104.20 and a two-hundred day moving average of $108.05.

Wall Street Analyst Weigh In

Several research firms have issued reports on ITRI. StockNews.com cut shares of Itron from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 1st. Canaccord Genuity Group raised their target price on shares of Itron from $130.00 to $132.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Oppenheimer raised their price target on Itron from $124.00 to $131.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Piper Sandler upped their price objective on shares of Itron from $119.00 to $124.00 and gave the company a "neutral" rating in a research note on Thursday, February 27th. Finally, Guggenheim decreased their target price on shares of Itron from $135.00 to $133.00 and set a "buy" rating on the stock in a research report on Thursday, February 27th. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $127.64.

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.