Invesco Ltd. lowered its holdings in Itron, Inc. (NASDAQ:ITRI - Free Report) by 9.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,250,807 shares of the scientific and technical instruments company's stock after selling 246,425 shares during the quarter. Invesco Ltd. owned 4.99% of Itron worth $244,393,000 as of its most recent filing with the SEC.
Other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Itron in the fourth quarter valued at about $64,615,000. Bowen Hanes & Co. Inc. purchased a new position in Itron in the fourth quarter valued at about $27,486,000. Franklin Resources Inc. lifted its position in shares of Itron by 611.9% during the 3rd quarter. Franklin Resources Inc. now owns 282,828 shares of the scientific and technical instruments company's stock valued at $31,128,000 after acquiring an additional 243,102 shares during the period. Wellington Management Group LLP boosted its stake in shares of Itron by 180.7% during the 4th quarter. Wellington Management Group LLP now owns 333,363 shares of the scientific and technical instruments company's stock worth $36,197,000 after acquiring an additional 214,600 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in shares of Itron by 85.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 425,484 shares of the scientific and technical instruments company's stock worth $46,199,000 after acquiring an additional 196,396 shares during the period. 96.19% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of analysts have commented on the company. Guggenheim decreased their target price on Itron from $135.00 to $133.00 and set a "buy" rating on the stock in a research report 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. Canaccord Genuity Group upped their target price on shares of Itron from $130.00 to $132.00 and gave the company a "buy" rating in a report on Wednesday, February 26th. Oppenheimer boosted their price objective on shares of Itron from $124.00 to $131.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Finally, Piper Sandler boosted their price target on Itron from $119.00 to $124.00 and gave the company a "neutral" rating in a 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 stock. Based on data from MarketBeat.com, Itron currently has an average rating of "Moderate Buy" and an average price target of $127.64.
Check Out Our Latest Report on Itron
Itron Stock Down 0.7 %
NASDAQ ITRI traded down $0.71 on Wednesday, reaching $101.38. The company had a trading volume of 63,459 shares, compared to its average volume of 566,981. The firm has a market capitalization of $4.62 billion, a PE ratio of 20.77, a P/E/G ratio of 0.81 and a beta of 1.39. The firm has a 50-day moving average of $102.28 and a 200-day moving average of $107.48. Itron, Inc. has a 1 year low of $88.87 and a 1 year high of $124.90. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83.
Insider Activity at Itron
In other news, SVP Christopher E. Ware sold 648 shares of the firm'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 completion of the sale, the senior vice president now owns 20,326 shares of the company's stock, valued at approximately $1,888,285.40. This trade represents a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mary C. Hemmingsen sold 750 shares of the company's stock in a transaction 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 sale, the director now directly owns 5,630 shares in the company, valued at $603,930.10. This represents a 11.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, 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.
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