Intech Investment Management LLC grew its holdings in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 112.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 41,363 shares of the scientific and technical instruments company's stock after buying an additional 21,919 shares during the period. Intech Investment Management LLC owned 0.09% of Itron worth $4,491,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently made changes to their positions in the business. Erste Asset Management GmbH bought a new stake in shares of Itron during the 3rd quarter worth about $38,534,000. Bowen Hanes & Co. Inc. bought a new stake in Itron during the fourth quarter worth approximately $27,486,000. Franklin Resources Inc. raised its holdings in Itron by 611.9% during 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 purchasing an additional 243,102 shares in the last quarter. Banco Santander S.A. raised its holdings in Itron by 4,133.3% during the third quarter. Banco Santander S.A. now owns 190,500 shares of the scientific and technical instruments company's stock worth $20,347,000 after purchasing an additional 186,000 shares in the last quarter. Finally, Soros Fund Management LLC raised its holdings in Itron by 38.9% during the third quarter. Soros Fund Management LLC now owns 275,000 shares of the scientific and technical instruments company's stock worth $29,373,000 after purchasing an additional 77,050 shares in the last quarter. Institutional investors own 96.19% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts recently weighed in on the company. Guggenheim decreased their target price on Itron from $135.00 to $133.00 and set a "buy" rating for the company in a research note on Thursday, February 27th. StockNews.com lowered Itron from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 1st. Piper Sandler boosted 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. Canaccord Genuity Group boosted 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. Finally, Oppenheimer boosted their target price on Itron from $124.00 to $131.00 and gave the stock an "outperform" 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.com, Itron currently has an average rating of "Moderate Buy" and a consensus price target of $127.64.
View Our Latest Research Report on Itron
Insider Transactions at Itron
In related news, CFO Joan S. Hooper sold 2,322 shares of the firm's 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 $215,713.80. Following the transaction, the chief financial officer now directly owns 92,076 shares of the company's stock, valued at approximately $8,553,860.40. This trade represents a 2.46 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Mary C. Hemmingsen sold 750 shares of Itron stock in a transaction that occurred on 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 directly owns 5,630 shares in the company, valued at approximately $603,930.10. This represents a 11.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,037 shares of company stock valued at $385,815 in the last three months. Corporate insiders own 1.45% of the company's stock.
Itron Stock Down 1.0 %
ITRI stock traded down $1.03 during midday trading on Friday, reaching $105.76. The company had a trading volume of 857,147 shares, compared to its average volume of 527,811. Itron, Inc. has a 1 year low of $87.91 and a 1 year high of $124.90. The company has a current ratio of 3.36, a quick ratio of 2.83 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $4.82 billion, a P/E ratio of 21.67, a PEG ratio of 0.81 and a beta of 1.49. The company has a 50 day moving average of $104.00 and a two-hundred day moving average of $107.63.
Itron Company Profile
(
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.
Read More
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
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
