KLP Kapitalforvaltning AS Invests $1.02 Million in Itron, Inc. (NASDAQ:ITRI)

KLP Kapitalforvaltning AS acquired a new position in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 9,400 shares of the scientific and technical instruments company's stock, valued at approximately $1,021,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Louisiana State Employees Retirement System raised its holdings in Itron by 0.5% in the fourth quarter. Louisiana State Employees Retirement System now owns 21,800 shares of the scientific and technical instruments company's stock worth $2,367,000 after purchasing an additional 100 shares during the period. Quarry LP raised its stake in Itron by 29.0% during the 3rd quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company's stock worth $48,000 after buying an additional 102 shares during the period. Continuum Advisory LLC raised its stake 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 worth $40,000 after buying an additional 102 shares during the period. Stifel Financial Corp lifted its holdings in Itron by 2.2% during the third quarter. Stifel Financial Corp now owns 4,921 shares of the scientific and technical instruments company's stock worth $526,000 after acquiring an additional 108 shares in the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC grew its stake in Itron by 6.1% in the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,185 shares of the scientific and technical instruments company's stock valued at $237,000 after acquiring an additional 125 shares during the period. Institutional investors own 96.19% of the company's stock.

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Itron Stock Down 6.1 %

Shares of NASDAQ ITRI traded down $6.52 during mid-day trading on Thursday, hitting $100.84. The company had a trading volume of 685,462 shares, compared to its average volume of 557,062. 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 firm has a 50-day simple moving average of $104.06 and a two-hundred day simple moving average of $108.02. The company has a market capitalization of $4.60 billion, a PE ratio of 20.66, a price-to-earnings-growth ratio of 0.81 and a beta of 1.39. Itron, Inc. has a one year low of $88.87 and a one year high of $124.90.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at Itron

In other Itron news, SVP Christopher E. Ware sold 648 shares of the business'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 transaction of $60,199.20. Following the transaction, the senior vice president now owns 20,326 shares of the company's stock, valued at $1,888,285.40. The trade was a 3.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Mary C. Hemmingsen sold 750 shares of the firm's 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 completion of the sale, the director now directly owns 5,630 shares of the company's stock, valued at approximately $603,930.10. The trade was a 11.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,037 shares of company stock worth $385,815 over the last ninety days. 1.51% of the stock is currently owned by corporate insiders.

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.