Intech Investment Management LLC Acquires 21,919 Shares of Itron, Inc. (NASDAQ:ITRI)

Intech Investment Management LLC raised its holdings in shares of Itron, Inc. (NASDAQ:ITRI) by 112.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 41,363 shares of the scientific and technical instruments company’s stock after acquiring an additional 21,919 shares during the period. Intech Investment Management LLC owned about 0.09% of Itron worth $4,491,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Advisors Asset Management Inc. grew its position in Itron by 5.3% during the fourth quarter. Advisors Asset Management Inc. now owns 29,084 shares of the scientific and technical instruments company’s stock valued at $3,158,000 after acquiring an additional 1,465 shares during the last quarter. Counterpoint Mutual Funds LLC boosted its stake in shares of Itron by 37.6% during the fourth quarter. Counterpoint Mutual Funds LLC now owns 3,621 shares of the scientific and technical instruments company’s stock valued at $393,000 after purchasing an additional 989 shares during the period. Cibc World Markets Corp purchased a new stake in shares of Itron during the fourth quarter valued at approximately $459,000. Corient Private Wealth LLC boosted its stake in shares of Itron by 12.9% during the fourth quarter. Corient Private Wealth LLC now owns 4,263 shares of the scientific and technical instruments company’s stock valued at $463,000 after purchasing an additional 488 shares during the period. Finally, Bowen Hanes & Co. Inc. purchased a new stake in shares of Itron during the fourth quarter valued at approximately $27,486,000. 96.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ITRI has been the subject of a number of analyst reports. Piper Sandler increased their price objective on Itron from $119.00 to $124.00 and gave the company a “neutral” rating in a research note on Thursday, February 27th. Guggenheim dropped their price target on Itron from $135.00 to $133.00 and set a “buy” rating for the company in a research note on Thursday, February 27th. Oppenheimer raised their price target on Itron from $124.00 to $131.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Canaccord Genuity Group raised their price target on Itron from $130.00 to $132.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Finally, StockNews.com lowered Itron from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 1st. Three investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $127.64.

Insider Buying and Selling

In related news, SVP Christopher E. Ware sold 648 shares of Itron stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $92.90, for a total value of $60,199.20. Following the completion of the sale, the senior vice president now directly owns 20,326 shares in the company, valued at approximately $1,888,285.40. This trade represents a 3.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Joan S. Hooper sold 2,322 shares of the business’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 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 4,037 shares of company stock worth $385,815. 1.45% of the stock is owned by corporate insiders.

Itron Price Performance

Shares of NASDAQ:ITRI opened at $105.49 on Wednesday. Itron, Inc. has a 1-year low of $86.45 and a 1-year high of $124.90. The business has a fifty day moving average price of $103.94 and a 200-day moving average price of $107.54. The company has a market capitalization of $4.77 billion, a PE ratio of 21.62, a PEG ratio of 0.81 and a beta of 1.49. The company has a debt-to-equity ratio of 0.91, a current ratio of 3.36 and a quick ratio of 2.83.

About Itron

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.