Nicola Wealth Management LTD. reduced its position in Itron, Inc. (NASDAQ:ITRI - Free Report) by 16.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 30,000 shares of the scientific and technical instruments company's stock after selling 6,000 shares during the quarter. Nicola Wealth Management LTD. owned about 0.07% of Itron worth $3,257,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ITRI. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Itron during the third quarter valued at about $223,000. Farther Finance Advisors LLC raised its holdings in shares of Itron by 21.7% in the third quarter. Farther Finance Advisors LLC now owns 724 shares of the scientific and technical instruments company's stock worth $77,000 after buying an additional 129 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Itron by 1.7% in the third quarter. Janney Montgomery Scott LLC now owns 11,425 shares of the scientific and technical instruments company's stock worth $1,220,000 after buying an additional 190 shares during the last quarter. Robeco Institutional Asset Management B.V. acquired a new stake in shares of Itron during the third quarter worth $473,000. Finally, Hanseatic Management Services Inc. increased its position in shares of Itron by 4.4% in the 3rd quarter. Hanseatic Management Services Inc. now owns 7,522 shares of the scientific and technical instruments company's stock valued at $803,000 after acquiring an additional 318 shares during the period. 96.19% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
ITRI has been the subject of several research analyst reports. Oppenheimer raised their price objective on Itron from $124.00 to $131.00 and gave the stock an "outperform" rating in a research note on Wednesday, February 26th. Guggenheim dropped their price target 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. Canaccord Genuity Group upped 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 Itron from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 1st. Finally, Piper Sandler lifted their price target on Itron from $119.00 to $124.00 and gave the company 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 given a buy rating to the company's stock. According to MarketBeat.com, Itron presently has a consensus rating of "Moderate Buy" and a consensus price target of $127.64.
Get Our Latest Stock Analysis on Itron
Itron Price Performance
NASDAQ ITRI traded down $0.37 during mid-day trading on Friday, hitting $105.82. The stock had a trading volume of 531,125 shares, compared to its average volume of 635,301. The firm's 50 day moving average is $104.66 and its 200 day moving average is $107.21. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83. The stock has a market capitalization of $4.78 billion, a price-to-earnings ratio of 21.68, a PEG ratio of 0.81 and a beta of 1.46. Itron, Inc. has a twelve month low of $86.13 and a twelve month high of $124.90.
Insider Transactions at Itron
In related news, CFO Joan S. Hooper sold 2,322 shares of the company's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $92.90, for a total value of $215,713.80. Following the completion of the sale, the chief financial officer now owns 92,076 shares of the company's stock, valued at approximately $8,553,860.40. This represents a 2.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Mary C. Hemmingsen sold 750 shares of Itron stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $107.27, for a total transaction of $80,452.50. Following the transaction, the director now directly owns 5,630 shares in the company, valued at $603,930.10. This trade represents a 11.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,037 shares of company stock valued at $385,815 over the last 90 days. 1.45% of the stock is currently owned by corporate insiders.
Itron Company Profile
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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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