Itron, Inc. (NASDAQ:ITRI) Shares Purchased by Renaissance Technologies LLC

Renaissance Technologies LLC increased its stake in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 3.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 350,461 shares of the scientific and technical instruments company's stock after buying an additional 10,400 shares during the period. Renaissance Technologies LLC owned 0.78% of Itron worth $38,053,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of ITRI. Proficio Capital Partners LLC acquired a new stake in shares of Itron during the fourth quarter worth $30,000. Continuum Advisory LLC grew its position in shares of 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 in the last quarter. Hager Investment Management Services LLC bought a new stake in shares of Itron during the 4th quarter worth $67,000. Contravisory Investment Management Inc. lifted its stake in Itron by 154.9% in the fourth quarter. Contravisory Investment Management Inc. now owns 864 shares of the scientific and technical instruments company's stock worth $94,000 after purchasing an additional 525 shares during the last quarter. Finally, Smartleaf Asset Management LLC raised its position in Itron by 347.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 886 shares of the scientific and technical instruments company's stock valued at $97,000 after purchasing an additional 688 shares during the last quarter. Institutional investors and hedge funds own 96.19% of the company's stock.

Remove Ads

Itron Stock Down 0.9 %

ITRI traded down $0.90 during trading on Wednesday, reaching $101.18. The company had a trading volume of 71,494 shares, compared to its average volume of 567,017. 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 company has a market cap of $4.61 billion, a P/E ratio of 20.73, a PEG ratio of 0.81 and a beta of 1.39. Itron, Inc. has a 12 month low of $88.87 and a 12 month high of $124.90. The business's fifty day moving average price is $102.28 and its 200 day moving average price is $107.48.

Analysts Set New Price Targets

ITRI has been the subject of a number of recent research reports. StockNews.com downgraded Itron from a "strong-buy" rating to a "buy" rating in a research note on Saturday, March 1st. Piper Sandler upped 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. Canaccord Genuity Group raised their target price on shares of Itron from $130.00 to $132.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Guggenheim reduced their target price on shares of Itron from $135.00 to $133.00 and set a "buy" rating for the company in a report on Thursday, February 27th. Finally, Oppenheimer lifted their price objective on Itron from $124.00 to $131.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Itron currently has a consensus rating of "Moderate Buy" and a consensus target price of $127.64.

Insider Activity

In other Itron news, 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 completion of the transaction, the director now owns 5,630 shares of the company's stock, valued at $603,930.10. The trade was a 11.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Joan S. Hooper sold 2,322 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 $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. The trade was a 2.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 4,037 shares of company stock worth $385,815. Corporate insiders own 1.45% of the company's stock.

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.