Integrated Quantitative Investments LLC Takes $1.31 Million Position in Itron, Inc. (NASDAQ:ITRI)

Integrated Quantitative Investments LLC purchased a new stake in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 12,026 shares of the scientific and technical instruments company's stock, valued at approximately $1,306,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Proficio Capital Partners LLC purchased a new position in shares of Itron during the fourth quarter valued at approximately $30,000. Continuum Advisory LLC increased its position in Itron by 42.1% during the 3rd quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company's stock valued at $40,000 after purchasing an additional 102 shares during the period. Quarry LP raised its holdings in Itron by 29.0% in the 3rd 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 in the last quarter. Hager Investment Management Services LLC purchased a new stake in shares of Itron in the 4th quarter worth about $67,000. Finally, Contravisory Investment Management Inc. boosted its stake in shares of Itron by 154.9% during the 4th quarter. Contravisory Investment Management Inc. now owns 864 shares of the scientific and technical instruments company's stock valued at $94,000 after purchasing an additional 525 shares in the last quarter. Institutional investors own 96.19% of the company's stock.

Insiders Place Their Bets

In other news, Director Mary C. Hemmingsen sold 750 shares of the 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 transaction, the director now owns 5,630 shares in the company, valued at $603,930.10. This represents a 11.76 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Christopher E. Ware sold 648 shares of the business'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 sale, the senior vice president now owns 20,326 shares of the company's stock, valued at $1,888,285.40. This trade represents a 3.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,037 shares of company stock valued at $385,815. 1.45% of the stock is owned by insiders.

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Itron Stock Up 1.4 %

Shares of Itron stock traded up $1.30 on Wednesday, reaching $93.34. The company's stock had a trading volume of 189,563 shares, compared to its average volume of 604,894. The company has a market capitalization of $4.25 billion, a price-to-earnings ratio of 19.13, a P/E/G ratio of 0.81 and a beta of 1.39. 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 52 week low of $88.87 and a 52 week high of $124.90. The firm's fifty day simple moving average is $103.04 and its two-hundred day simple moving average is $107.72.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Oppenheimer lifted their price objective on Itron from $124.00 to $131.00 and gave the company an "outperform" rating in a research 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 research report on Wednesday, February 26th. StockNews.com cut shares of Itron from a "strong-buy" rating to a "buy" rating in a report on Saturday, March 1st. Guggenheim lowered their price target on shares of Itron from $135.00 to $133.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Finally, Piper Sandler boosted their price objective on shares of Itron from $119.00 to $124.00 and gave the stock a "neutral" rating in a research note on Thursday, February 27th. Three equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $127.64.

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.