Quantbot Technologies LP bought a new position in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 8,878 shares of the scientific and technical instruments company's stock, valued at approximately $964,000.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Millstone Evans Group LLC purchased a new position in Itron in the fourth quarter valued at $325,000. Teacher Retirement System of Texas increased its holdings in shares of Itron by 28.8% in the 4th quarter. Teacher Retirement System of Texas now owns 25,822 shares of the scientific and technical instruments company's stock valued at $2,804,000 after acquiring an additional 5,780 shares during the last quarter. Harvest Fund Management Co. Ltd boosted its holdings in Itron by 6,531.6% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 6,300 shares of the scientific and technical instruments company's stock valued at $688,000 after purchasing an additional 6,205 shares in the last quarter. Xponance Inc. raised its holdings in Itron by 11.0% during the fourth quarter. Xponance Inc. now owns 3,341 shares of the scientific and technical instruments company's stock worth $363,000 after purchasing an additional 331 shares in the last quarter. Finally, Intech Investment Management LLC boosted its holdings in shares of Itron by 112.7% in the 4th quarter. Intech Investment Management LLC now owns 41,363 shares of the scientific and technical instruments company's stock valued at $4,491,000 after buying an additional 21,919 shares in the last quarter. 96.19% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
ITRI has been the subject of a number of research reports. Canaccord Genuity Group boosted their price objective on Itron from $130.00 to $132.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Guggenheim lowered their target price on shares of Itron from $135.00 to $133.00 and set a "buy" rating on the stock in a report on Thursday, February 27th. Oppenheimer increased their price target on shares of Itron from $124.00 to $131.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. StockNews.com lowered Itron from a "strong-buy" rating to a "buy" rating in a 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 research note on Thursday, February 27th. Three 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 an average rating of "Moderate Buy" and an average price target of $127.64.
Check Out Our Latest Analysis on Itron
Itron Trading Down 2.0 %
NASDAQ ITRI traded down $2.13 during trading hours on Friday, hitting $103.11. 94,103 shares of the company's stock were exchanged, compared to its average volume of 554,274. Itron, Inc. has a 12-month low of $87.91 and a 12-month high of $124.90. The company has a debt-to-equity ratio of 0.91, a quick ratio of 2.83 and a current ratio of 3.36. The business's 50 day moving average is $104.24 and its 200-day moving average is $107.83. The firm has a market capitalization of $4.70 billion, a P/E ratio of 21.18, a price-to-earnings-growth ratio of 0.81 and a beta of 1.49.
Insider Activity
In other news, SVP Christopher E. Ware sold 648 shares of the business's stock in a transaction 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 transaction, the senior vice president now directly owns 20,326 shares of the company's stock, valued at approximately $1,888,285.40. The trade was a 3.09 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Mary C. Hemmingsen sold 750 shares of Itron stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $107.27, for a total transaction of $80,452.50. Following the sale, 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 position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,037 shares of company stock valued at $385,815. Company insiders own 1.45% of the company's stock.
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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