Trexquant Investment LP lessened its position in shares of Itron, Inc. (NASDAQ:ITRI - Free Report) by 20.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 75,762 shares of the scientific and technical instruments company's stock after selling 19,081 shares during the period. Trexquant Investment LP owned 0.17% of Itron worth $8,226,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new stake in shares of Itron during the 4th quarter valued at approximately $30,000. Continuum Advisory LLC boosted its holdings in shares of Itron by 42.1% in the third quarter. Continuum Advisory LLC now owns 344 shares of the scientific and technical instruments company's stock worth $40,000 after acquiring an additional 102 shares during the period. Quarry LP grew its position in shares of Itron by 29.0% in the third quarter. Quarry LP now owns 454 shares of the scientific and technical instruments company's stock valued at $48,000 after purchasing an additional 102 shares in the last quarter. Hager Investment Management Services LLC purchased a new position in shares of Itron in the fourth quarter valued at $67,000. Finally, Contravisory Investment Management Inc. raised its stake in shares of Itron by 154.9% during the 4th quarter. Contravisory Investment Management Inc. now owns 864 shares of the scientific and technical instruments company's stock valued at $94,000 after purchasing an additional 525 shares during the period. 96.19% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts have weighed in on the company. Canaccord Genuity Group lifted their target price on 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 Itron from $124.00 to $131.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. StockNews.com downgraded Itron from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 1st. Piper Sandler increased their price objective on Itron from $119.00 to $124.00 and gave the company a "neutral" rating in a research report on Thursday, February 27th. Finally, Guggenheim dropped their target price on Itron from $135.00 to $133.00 and set a "buy" rating for the company in a research report on Thursday, February 27th. Three equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Itron presently has a consensus rating of "Moderate Buy" and a consensus price target of $127.64.
Get Our Latest Stock Report on ITRI
Itron Stock Up 8.1 %
Shares of NASDAQ:ITRI traded up $7.49 during trading on Wednesday, hitting $99.53. The stock had a trading volume of 956,142 shares, compared to its average volume of 565,387. The company has a quick ratio of 2.83, a current ratio of 3.36 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $4.54 billion, a PE ratio of 20.40, a PEG ratio of 0.81 and a beta of 1.39. The firm's fifty day moving average is $102.73 and its 200 day moving average is $107.61. Itron, Inc. has a 12 month low of $88.87 and a 12 month high of $124.90.
Insider Activity at Itron
In other Itron news, 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 value of $80,452.50. Following the completion of the sale, the director now owns 5,630 shares of the company's stock, valued at approximately $603,930.10. This trade represents a 11.76 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Christopher E. Ware sold 648 shares of Itron 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 completion of the sale, the senior vice president now owns 20,326 shares of the company's stock, valued at $1,888,285.40. This represents a 3.09 % 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 valued at $385,815 in the last three months. Company 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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